(A) When subdividers or developers provide their own open space for recreation areas and facilities, it has the effect of reducing the demand for local public recreational services. Depending on the size of the development, a portion of the park and recreational area in subdivisions or planned unit developments may, at the option of the village's corporate authorities, be provided in the form of "private" open space in lieu of dedicated "public" open space. The extent of such private open space shall be determined by the village's corporate authorities, based upon the needs of the projected residents and in conformance to the total park and recreation land for the general area.
(B) In general, a substitution of private open space for dedicated parks will imply a substantially higher degree of improvement and the installation of recreational facilities, including equipment by the developer as part of his or her obligation. Detailed plans of such areas, including specifications of facilities to be installed, must be approved by the village's corporate authorities, and before any credit is given for private recreation areas, the subdivider or developer must guarantee that these private recreation areas will be permanently maintained for such use by the execution of the appropriate legal documents. (Ord. 04-32, 1-24-2005)