(A) In subdividing land or re-subdividing an existing plat, due consideration shall be given to the subdivider and by the Planning Commission upon review, to the dedication or reservation of suitable sites for schools, parks, playgrounds, conservation areas, or other public or semi-public recreational areas or open spaces. Areas so dedicated or reserved shall conform as nearly as possible to the Comprehensive Plan. Whenever the Comprehensive Plan shows the proposed park or recreational area partially or completely within a proposed subdivision, the preliminary and final plats of said subdivision shall show the proposed site as reserved and the city shall have one year from the date of the approval of the preliminary plat by the Planning Commission in which to purchase said land or to initiate condemnation proceedings with respect thereto.
(B) Where deemed essential by the Planning Commission, upon consideration of the particular type of development proposed in the subdivision, and especially in larger scale neighborhood unit developments not anticipated in the Comprehensive Plan, the Planning Commission may require the dedication or reservation of such other areas or sites of a character, extent, and location suitable to the needs created by such a development for schools, parks, and other neighborhood purposes. When so desired, the Planning Commission may recommend, and the Council rule, that as an alternative, the subdivider may, at his or her option, contribute an equivalent amount in cash. Payments received under such option shall be placed in a special park fund by the city and used only for the acquisition of land for parks and playgrounds in accordance with M.S. § 462.358, subd. 2, as it may be amended from time to time.
(2006 Code, § 12.05)