Prior to the acceptance of the final tract map, the Council, upon the advice of and written agreement with the Conejo Recreation and Park District, shall develop a schedule specifying how and when it will use the land or fees, or both, to develop park or recreational facilities. Any fees collected shall be committed within five (5) years after the payment of such fees or the issuance of building permits on one-half (1/2) of the lots created by the subdivision, whichever occurs later. If such fees are not committed, they shall be distributed and paid to the then record owners of the subdivision in the same proportion that the size of their lot bears to the total area of all lots within the subdivision.
(Ord. 744-NS, eff. April 17, 1980)