A. Where a proposed park, playground, lake, recreation area, or green space/common area included within the comprehensive city plan and shown in the development plans made a part thereof, is located in whole or in part in an area being subdivided, the subdivider shall dedicate such lands to the public as a part of the final subdivision plat. However, in no case shall the amount of these required public areas to be dedicated, in addition to public streets and alleys, exceed ten percent (10%) of the total gross acreage owned or controlled by one developer.
B. Where the area for the proposed park, playground, lake, recreation area, or green space/common area exceeds ten percent (10%) of the total gross area owned or controlled by one developer, that part of the lands in excess of ten percent (10%) of the total area shall also be shown on all subdivision plans and plats, and the acquisition of the additional areas needed for parks, playgrounds, lakes, recreation areas, or green space/common areas, other than public streets and alleys, shall be secured by the city or arrangements made for the acquisition of the area from the subdivider at the cost of the unimproved land within a period not to exceed three (3) years from the date of approval of the preliminary plan.
C. Where less than ten percent (10%) of the total gross area being subdivided is proposed for parks, playgrounds, lakes, recreation areas, or green space/common areas, including public streets and alleys, under the comprehensive city plan, the subdivider shall dedicate the area so required and, in addition, pay to the city clerk a sum of money so that either or both the dedication and the payment equal ten percent (10%) of the appraised value of the land before it is subdivided. Sums so received by the city clerk shall be placed in a special fund to be known as the "subdivision park and recreation site purchase fund" and used by the city solely for the purchase of land for parks or recreation areas in accordance with the comprehensive city plan at the direction of the city council.
D. For the purposes of subsection C of this section, the value of the subject land shall be established by appraisal made by three (3) qualified appraisers, one of whom shall be appointed by the city council, one of whom shall be appointed by the subdivider and one of whom shall be mutually agreed upon by the two (2) appraisers previously named. The subdivider may agree with the city on an installment method of payment based on the sale of lots. (1996 Code § 26-58; amd. 2010 Code)