(a)   Dedication Requirement. In order that adequate open spaces and sites for public uses may be properly located and reserved and in order that the cost of providing public areas, such as but not limited to, parks, recreation areas and public schools may be equitably apportioned on the basis of additional need created by the subdivision development, each subdivider shall be required to dedicate land or fees in lieu of land for park or other public uses.
   (b)   General Design. In the design of a subdivision, land division, planned unit development or development project, provision shall be made for suitable sites of adequate area for schools, parks, playgrounds, open spaces, drainage-ways and other public purposes. Such sites are to be shown on the preliminary Plat and Final Plat, and shall comply with the Village Master Plan or component of said Plan. Consideration shall be given to the preservation of scenic and historic sites, stands of trees, marshes, lakes, ponds, streams, watercourses, watersheds, ravines and woodlands, prairie and wetlands, and plant and animal communities.
   (c)    Site Reservations Required.
      (1)    Where the area proposed to be divided contains a park, playground or other public area which is shown upon the master plan of the Village, such area shall either be dedicated to the proper public agency, or it shall be reserved for acquisition thereby within a three (3) year period by purchase or other means. If the land is not acquired during this period, it shall be released to the subdivider.
      (2)   Whenever any river, stream or important surface-drainage course is located in the area being divided, the subdivider of land shall provide an easement along each side of the river, stream or drainage course for the purpose of widening, deepening, relocating, improving or protecting the river, stream or drainage course for drainage or recreational use.
      (3)   Whenever a tract of land to be subdivided embraces all or any part of an arterial street or other public way which has been designated in the comprehensive plan component or on the official map of the Village, such public way shall be made a part of the plat and dedicated or reserved by the subdivider in the locations and dimensions indicated on such plan.