(A)   All subdivisions shall be designed so that park and recreational areas are dedicated to the village in a manner and to the extent prescribed, so as to accommodate the open space and recreational needs of those persons living on or who may live within the confines of the subdivisions. The land or any fees received under this chapter by the village shall be used only for the purposes of providing park, open space, or recreational facilities.
   (B)   The owner of a subdivision may be required to dedicate land within a subdivision for part and recreational purposes or may be required to pay a fee in lieu of said dedication, in accordance with the following criteria:
      (1)   For subdivisions where the total area does not exceed three acres, no land dedication or fee payment is required;
      (2)   For subdivisions where the total area is at least three acres but less than ten acres, the owner has the option of dedicating at least 5% of the subdivision area for parks, open spaces, or recreational uses, or paying a fee, to be determined from time to time by resolution of the Board of Trustees; and
      (3)   For subdivisions where the total area is ten acres for more, the owner is required to dedicate at least 5% of the total area for parks, open spaces, or recreational uses.
   (C)   The Comprehensive Land Use Plan shall be used as a guide in locating sites for parks and recreational uses. Generally, a central location which will serve equally the entire subdivision is most desirable. However, lands dedicated for sites should, where possible, be combined with such other park dedications from abutting subdivisions in order to produce usable recreation areas without hardship on the owners. Lands dedicated for sites shall be located adjoining existing or planned streets or parks for access and the maximum utilization of land for park purposes.
   (D)   The size, location, topography, and access to all planned parks, open spaces, and recreational areas shall be part of the preliminary plan approval process and is subject to review and approval by the Board of Trustees.
   (E)   Where a dedication is required, it shall be accomplished in accordance with the ILCS prior to the time the final plat is approved by the Board.
   (F)   If the owner wishes to pay a fee instead of land dedication, the fees shall be paid to the village prior to approval of the final plat. Such fees shall be held in trust by the village solely for the development of parks, open spaces, and recreation areas, which may be made available to serve immediate or future needs of the residents of that subdivision or for the improvement of other existing village parks which already serves such areas.
   (G)   When private open space for park and recreational purposes is proposed within a subdivision and such space is to be owned and maintained by the residents thereof, such private open space may be credited against the requirements for dedication of park and recreation land, provided that the Board finds it in the public interest to do so, and that the following standards are met.
      (1)   The conditions of ownership and maintenance shall be approved by the Plan Commission and the Board of Trustees.
      (2)   The use of such private open space is restricted for park and recreational uses by recorded covenants which run with the land in favor or the future owners of lots within the subdivision and which cannot be defeated or eliminated without consent of the Board.
      (3)   Such private open space is reasonably adaptable for use for park and recreational purposes, taking into consideration the size, shape, topography, access, and location of such open space.
      (4)   Such private open spaces are compatible with the Comprehensive Land Use Plan.
(Ord. 97-7, passed 7-1-1997, § 6.2)