Unless otherwise provided for in an annexation agreement with the village, as a condition of approval of a final plat of subdivision or of a final plat of a planned unit development, each subdivider or developer shall be required to dedicate land and/or make cash contributions in lieu of land for acquisition of park and school sites; and cash donations for school construction and recreation to serve the immediate and future needs of the residents of the subdivision or planned unit development as hereinafter set forth. (Ord. 04-32, 1-24-2005)