(A) Parkland Code. Land shall be dedicated, or park infrastructure shall be constructed as subdivision improvements, in all proprietor’s plats in accordance with the provisions of Chapter 156 of the Municipal Code, known as and referred to as the “Parkland Code.”
(B) Reservations of land. In addition to land and park infrastructure that is provided by the developer as subdivision improvements to comply with the city’s Parkland Code and this Code, a developer may be required to reserve additional land for public acquisition and use for public purposes, including, but not limited to, streets; parks and open space; preservation of sites of historic or environmental value; school sites; and water or sewage storage, conveyance or treatment facilities, and whether such acquisition is by fee simple title, easement or other instrument. Any such reservations shall be acquired within a reasonable period of time, generally not to exceed five years after the date upon which the City Council approved and established such reservation, and with the payment of interest or such other provisions and stipulations as may be necessary to prevent a takings or undue burden upon the developer.