Where a site for a proposed park, playground, school or other public use as shown on official plans adopted by the Planning Commission for the immediate or future development of the City is located in whole or in part in an area proposed to be subdivided, the Commission may require the subdivider to grant the appropriate public agency an option to purchase or an opportunity to acquire any such area within the proposed subdivision. Acquisition prices as contained in the option shall not exceed the original raw land cost plus fifty percent of the cost to install required improvements across any frontage of such land. The option shall have a five-year term and shall be executed prior to the time the plat is officially signed by the Planning Commission. In consideration of the subdivider granting the above mentioned option, the City or School Board shall pay to the subdivider an amount equal to an estimate (prepared by the City Engineer) of the property tax on the area included in the option over the five-year period. The City or the School Board shall also, upon the request of the subdivider, maintain the area contained in the option for the five-year period.
(a) Acceptance of Public Land by Legislative Authority. If the final plat includes land to be dedicated to public use, the plat shall, before it is recorded, be submitted to Council for acceptance of such land.
(Ord. 1961-3. Passed 7-31-61.)