Whenever the requirements provided by this title, including the official map, shall indicate the necessity for providing a school site, park site, roadway, or street or other public lands within any proposed subdivision for which approval has been requested, and no such provision has been made therefor, the plan commission or the village board may require that lands be designated for such public purpose before approving such plat. Factors that may be reviewed by the plan commission or the village board in determining the need for such public sites in a proposed subdivision shall include the size, scope, population density, or other characteristics of the proposed subdivision. Whenever a final plat of subdivision, or part thereof, has been approved by the village board as complying with the official map and a public site is designated therein, the subdivider shall dedicate the subdivider's proportionate share of the land comprising the public site to the appropriate governmental body. The village board shall determine the subdivider's proportionate share of land to be dedicated under this provision based upon the size and population density of the proposed subdivision. Thereafter, the corporate authorities of the governmental body having jurisdiction over the particular public site shall purchase the remainder of such land comprising the designated public site, at fair market value, within one year from date of approval of such plat, and if it does not do so within such period of one year, the land so designated may then be used by the owners thereof in any other manner consistent with this title, including the official map and the zoning code. (Ord. 2005-09, 12-19-2005)