§ 22-151. Reservation of additional land.

When the village's official comprehensive plan or other applicable standard of the village requires a larger amount of park and recreational land or a larger school site in a particular subdivision, planned development or other development containing residential dwelling units than the developer is required to dedicate, then the land needed in excess of the required dedication shall be reserved by the developer for subsequent purchase by the village or other public body designated by the village, provided that such acquisition is started within one year after the date of approval of the final plat of subdivision or the planned development final plan or the issuance of a building permit.

(Ord. No. 96-0-14, § 2(22-805), 3-14-96; Ord. No. 02-O-96, § 2, 8-13-02)