Except as provided below, from and after the effective date of this chapter, each subdivider of a subdivision major plat within the village for residential purposes shall dedicate to the village a portion of the land for park purposes. At least 2.5% of land shall be dedicated for each proposed residential dwelling unit within the subdivision. Where a definite commitment is made to the village by the subdivider with respect to the number of dwelling units to be constructed on any parcel of land which has a zoning classification that permits multi-family use, the dedication shall be based on that number. When no such commitment exists, the dedication shall be based upon the maximum number of dwelling units which the zoning classification of the parcel will permit.
(`99 Code, § 8.12) Penalty, see § 153.999