(A) Subject to the other provisions of this section, if any portion of a tract lies within an area designated on any officially adopted town plan as part of a proposed public park, greenway, or bikeway, and before the tract is developed, the owner of the tract, with the concurrence of the town, dedicates to the town that portion of the tract so designated, then, when the remainder of the tract (the remainder) is developed for residential purposes, the permissible density at which the remainder may be developed shall be calculated in accordance with the provisions of this section.
(B) If the proposed use of the remainder is a single-family detached residential subdivision, then the lots in such subdivision may be reduced in accordance with the provisions of §§ 152.286 and 152.287 except that the developer need not set aside usable open space to the extent that an equivalent amount of land has previously been dedicated to the town in accordance with division (A) above.
(C) If the proposed use of the remainder is a two-family or multifamily project, then the permissible density at which the remainder may be developed shall be calculated by regarding the dedicated portion of the original lot as if it were still part of the lot proposed for development.
(D) If the portion of the tract that remains (i.e., the remainder) after dedication as provided in division (A) is divided in such a way that the resultant parcels are intended for future subdivision or development, then each of the resultant parcels shall be entitled to its prorated share of the density bonus provided for in divisions (B) and (C) above.
(Ord. passed 12-20-2001) Penalty, see § 152.999