(A) Whenever the area being subdivided embraces all or part of any lands shown on the comprehensive plan for a road, school, forest preserve, or other community facility or any public use, all land so designated shall be dedicated or reserved for that proposed use, and it shall be reserved by the subdivider for a period of not more than five years from the date of approval of the final plat, during which time it shall be made available for sale to the public agency concerned. If the sale price cannot be agreed upon, the fair cash market value of the property may be established by an appraiser acceptable to all parties. The sale price shall be based on the fair cash market value of the property as of the date of the filing of the first tentative plat.
(B) If the appropriate public agency having jurisdiction has not, within five years of the approval of the final plat, acquired the site reserved for a public use, the subdivider may use it for any purpose permitted by the applicable regulations then in effect.
(C) The power to accept any dedications, easements, or any other real property or rights for public use and maintenance in accordance with the provisions of this chapter shall be reserved exclusively to the village. The right of refusal of any dedications, easements, reservations, or other rights shall also be reserved to the village.
(Ord. 76-O-10, passed 9-21-76)