(A) Where a proposed park, playground, school, or other public use area included within the duly adopted official comprehensive village plan for the village and shown on the development plans made a part thereof, is located in whole or in part in an area being subdivided, the subdivider shall dedicate such lands to the proper public agency or agencies as a part of the final subdivision plat, provided, however, that in no case shall the amount of required public areas to be dedicated, in addition to public streets and alleys, exceed 10% of the total gross acreage owned or controlled by one developer. Where such area for park, school, or other public use exceeds 10% of the total gross area owned or controlled by one developer, that part of such lands in excess of 10% of the total gross area shall also be shown on all subdivision plans and plats; and the acquisition of such additional area needed for parks, playgrounds, schools, or other public uses, other than streets and alleys, shall be secured by the proper governing bodies, or arrangements made for the acquisition of the area from the subdivider at the cost of unimproved land, within a period not to exceed three years from the date of approval of the preliminary plan.
(B) Where less than 10% or none of the total gross area being subdivided is proposed for parks, schools, or other public use areas under the official comprehensive village plan, the subdivider shall dedicate such areas as required and, in addition, pay to the proper governing body as determined by the Plan Commission, a sum of money, so that either or both the dedication and the payment equal 10% of the appraised value of the land before it is subdivided. Sums so received by the proper governing body shall be placed in a special fund and used by the governing body solely for purchase of land for parks, schools, and other public uses in accordance with the official comprehensive village plan, and other receipt of the recommendations of the Plan Commission. The value of the subject land shall be established by negotiation, and if negotiations fail, by appraisal made by three qualified appraisers (one of whom shall be appointed by the Plan Commission, one of whom shall be appointed by the subdivider, and one of whom shall be mutually agreed upon by the two appraisers named above). The subdivider may contract with the proper governing body on an installment method of payment based on the sale of lots.
(Ord. 889, passed 8-4-2005)