(A) As a condition of approval of a tentative map, a subdivider shall dedicate, or make an irrevocable offer of dedication, of land within the subdivision for local transit facilities such as shelters, benches, bus turnouts, landing pads, park-and-ride facilities and similar items which directly benefit the residents of the subdivision, if the Planning Commission finds the following:
(1) That the subdivision as shown on the tentative map has the potential for 200 dwelling units or more if developed to the maximum density shown on the general plan or contains 100 acres or more; and
(2) That transit services are or will, within a reasonable time period, be made available to the subdivision.
(B) The provisions of this section do not apply to condominium projects or stock cooperatives which consist of the subdivision of airspace in an existing apartment building which is more than five years old when no new dwelling units are added.
(1966 Code, § 17-55) (Ord. 617, § 2(part))