As a condition of approval of a final plat of a subdivision, or of a final plat of a planned unit development, each subdivider or developer will be required to dedicate land for school sites, to serve the immediate and future needs of the residents of the developments or a cash contribution in lieu of actual land dedication, or a combination of both at the option of the village, in accordance with the following criteria and formula in this subchapter.
(Ord. 73-01, passed 1-9-73)