A. The city's neighborhood open space plan, as amended, divides the city into neighborhood open space districts. All payments in lieu of dedication shall be deposited in a special neighborhood open space account designated by the name of the contributing development. All payments will be used to acquire or develop open spaces, parks, recreation facilities and greenways/trails that are located within the neighborhood open space district containing the subject subdivision or planned development and will benefit the residents of the subdivision or planned development for which payment has been made.
B. The city must use the payment in lieu of dedication within five (5) years from the date received. This period will be automatically extended an additional five (5) years if the subdivider/developer has not constructed at least fifty percent (50%) of the units within the subdivision or planned development for which payment in lieu of dedication has been made.
C. If the city has not spent the funds by the last day of the five (5) year period or, if extended, by the last day of an additional five (5) years, the city shall, within ninety (90) days thereafter, mail to the property owner, at the address on file with the Johnson County treasurer's office, a proportional refund based on the percentage of the platted lots they own of the total platted lots in the subdivision or planned development. The subdivider's agreement/development agreement for each subdivision/planned development for which the subdivider/developer has made payments in lieu of dedication shall inform all property owners and successors in interest to properties in the subdivision/planned development of the right to a refund as provided for herein. (Ord. 05-4186, 12-15-2005)