Council may fix the time for which streets, watercourses and public grounds on the Official Map shall be deemed reserved for future taking or acquisition for public use. However, the reservation for public grounds shall lapse and become void one year after an owner of such property has submitted a written notice to Council announcing his or her intention to build, subdivide or otherwise develop the land covered by the reservation, or has made a formal application for an official permit to build a structure for private use, unless Council has acquired the property or begun condemnation proceedings to acquire such property before the end of the year.
(Ord. 3914. Passed 11-30-71.)