(a) Amount and Character. In support of Section 1145.01 above, it is the intent of this section to encourage aesthetically pleasing open space features with both functionality and which adds unique character to a planned development. To that end, a minimum of ten (10) percent of the total acreage in a proposed development permitted by this Section should be dedicated to public and/or private open space or recreation facilities available to all occupants of the PD. Such open space shall be shown on all required plans and should be physically situated so as to be readily accessible, available to and usable by all residents of the PD. Water retention and detention areas may be included in calculating the open space requirements at the sole discretion of the City, provided those areas serve as more than just the basic storm water management needs of the development. The City may reduce the minimum common open space requirement, or waive it for good cause. However, PDs with a residential component shall be less likely to see a waiver of this requirement than PDs without a residential component.
(b) Conveyance and Maintenance. All common open space, shown on the final development plan and recorded in the office of the Recorder of Miami County, must be conveyed by leasing or conveying title, including beneficial ownership, to a corporation, homeowner's association or other legal entity. The terms of such lease or other instrument of conveyance must include provisions satisfactory to the City for guaranteeing:
1. The continued use of such land for its specified purposes;
2. Continuity of proper maintenance;
3. Availability of funds required for such maintenance;
4. Adequate insurance protection; and
5. Recovery for loss sustained by casualty, condemnation or otherwise.
The developer shall provide to the City at the time the final plan is filed for City review and approval, executed legal documents which create the aforesaid guarantees and, in particular, which will restrict the use of common open space to the specified purposes.