§ 22-146. Required land dedication or payments in lieu thereof.

(a)

General requirement. As a condition of approval of a final plat of subdivision, a planned development final plan or a other development containing residential units, the developer shall be required to dedicate land for park and recreational purposes and for school sites to serve the immediate and future needs of the residents of the subdivision or planned development, or to provide a cash contribution in lieu of actual land dedication, or to provide a combination of land and cash contributions, at the option of the village, in accordance with this article. No occupancy permit shall be issued until such conveyance and contribution has been acknowledged and received by the village. The school site land dedication or cash contribution in lieu thereof shall not apply to the development of senior citizen housing, as that term is defined in the Village of Libertyville Zoning Code. In the event that a senior citizen housing facility is converted to a multiple family dwelling facility, as defined by the Village of Libertyville Zoning Code, no occupancy permit shall be issued for such converted facility until the school site land dedication or cash contribution in lieu thereof has been made, in accordance with the formula set forth in this Code.

(b)

Density formula. The Table Of Estimated Ultimate Population Per Dwelling Unit, included in this article as Figure 8-1, shall be used as provided in this article to calculate the required dedication of land for park and recreational or school site purposes or the cash contribution in lieu thereof, unless a written objection thereto is filed by the developer with the plat officer. If the developer files such an objection, then the developer shall submit a thorough, comprehensive demographic study showing the estimated population to be generated by the subdivision or planned development or other development containing residential dwelling units. The board of trustees shall make a determination as to the density formula which shall be applied to the subdivision or planned development, which decision shall be based on the demographic study submitted by the developer and all other facts and circumstances relevant to the issue.

(Ord. No. 96-0-14, § 2(22-800), 3-14-96; Ord. No. 02-O-96, § 2, 8-13-02)