(a) Where a fee is to be contributed in lieu of the set-aside of land for open space, such fee shall be required to be paid for each new lot or dwelling unit created through subdivision or land development.
(b) The amount of the fee shall be as established by resolution of Borough Council and may be adjusted from time to time. Criteria for establishing the fee shall bear a direct relationship to the projected financial need of the Borough for community-serving recreational lands and facilities. Factors shall include:
(1) Plans and associated costs for creating or improving community or neighborhood parks;
(2) The timing, status, and planned dates of accomplishment of park land acquisition or recreational facility improvements in relation to the timing of the subdivision or land development application submission;
(3) The level of future population growth projected for the Borough;
(4) The proportion of funding support for future park land and recreational facilities deemed appropriate for future residents to contribute;
(5) The average cost to purchase an acre of land at the time of contribution, prorated to reflect the proportion established in division (b)(4) above.
(c) Where a fee in lieu of land is to be paid, in accordance with the terms of this section, a note shall be placed on the final plan prepared for recording, stipulating the amount of the fee, as established by Borough Council resolution, and the means and timing of payment, consistent with the terms of this section.
(d) For any major subdivision, the full amount of the fee shall be placed in escrow, or otherwise secured in a manner deemed acceptable under the terms of Section 1286.13, as a condition of final plan approval by Borough Council. Actual payment of the fee for any lot shall be made at one of the following points, whichever shall occur first:
(1) At the time of conveyance of the lot;
(2) At the time of application for a building permit; or
(3) At the time any public improvements are offered for dedication.
(e) For any minor subdivision, the full amount of the fee for any lot shall be paid at the time of conveyance of the lot.
(f) All fees received pursuant to this section shall be placed in a Special Capital Reserve Fund for Open Space, the purposes of which shall be to hold, invest, and disburse such monies. Disbursements from this fund shall be made from time to time as Borough Council shall deem appropriate, only in connection with the planning, purchase, improvement, replacement, maintenance of land and structures and addition to Borough lands for use as open space, conservation, recreation, and education for the benefit of the citizens of the Borough as provided for in the Borough Code, or other applicable rules, regulations, or statutes. All sums received for and deposited in the Open Space Fund shall be held, invested, and reinvested in the same manner as other funds of the Borough, but shall not be considered part of the general revenues of the Borough.
(Ord. 961, § 801. Passed 8-13-01.)