(A) General. As a condition of approval of a tentative map, a subdivider shall reserve sites within the subdivision, appropriate in area and location, for parks, recreation facilities, fire stations, libraries or other public uses according to the standards and formula contained in this section.
(B) Standards for reservation of land. Where a park, recreational facility, fire station, library or other public use is shown on the general plan or an adopted specific plan, the subdivider may be required by the county to reserve sites as so determined by the county in accordance with the policies and standards contained in the general plan or the adopted specific plan. The reserved area must be of a size and shape as to permit the balance of the property within which the reservation is located to develop in an orderly and efficient manner. The amount of land to be reserved shall not make development of the remaining land held by the subdivider economically infeasible. The reserved area shall be consistent with the general plan or the adopted specific plan and shall be in such multiples of streets and parcels as to permit an efficient division of the reserved area in the event that it is not acquired within the prescribed period.
(C) Procedure. The public agency for whose benefit an area has been reserved, at its discretion, shall, at the time of approval of the final or parcel map, enter into a binding agreement to acquire the reserved area within two years after the completion and acceptance of all improvements, unless the period of time is extended by mutual agreement.
(D) Payment to subdivider. The purchase price for the reserved area shall be the market value thereof at the time of the submittal of the tentative map plus the taxes against the reserved area from the date of the reservation and any other costs incurred by the subdivider in the maintenance of the reserved area, including interest costs incurred on any loan covering the reserved area.
(E) Termination. If the public agency for whose benefit an area has been reserved does not enter into a binding agreement in accordance with this section, the reservation of the area shall automatically terminate.
(1966 Code, § 17-60) (Ord. 617, § 2(part))