Pursuant to § 277 of the Town Law, before the approval of a plat by the Planning Board, such plat shall show in proper cases, and when required by the Planning Board, a park or parks suitably located for playground or other recreational purposes. Reservation of land for road purposes, drainageways, and easements also may be required by the Planning Board and by county or state agencies having jurisdiction. Any land offered for dedication or reserved by the owner for a particular purpose, and all easements, shall be shown and appropriately marked on the plat.
A.
Finding by Planning Board. Pursuant to Town Law § 277, land for park, playground, or other recreational purposes may not be required unless the Planning Board has made a finding that a proper case exists for requiring that a park or parks be suitably located for playgrounds or other recreational purposes within the Town. Such findings shall include an evaluation of the present and anticipated future needs for park and recreational facilities in the Town based on projected population growth to which the particular subdivision plat will contribute. If the Planning Board makes such finding, the portion of land to be set aside for such a park or parks shall not be more than 5% to 10% of the tract proposed for development, unless land in excess of such amount is offered to be set aside by the applicant.
B.
Fee in lieu of land. In the event the Planning Board makes a finding pursuant to Subsection A of this section that the proposed subdivision plat presents a proper case for requiring a park or parks suitably located for playgrounds or other recreational purposes, but that a suitable park or parks of adequate size to meet the requirement cannot be properly located on such subdivision plat, the Planning Board may require a sum of money in lieu thereof, in an amount to be established by the Town Board (pursuant to a fee schedule adopted by the Town Board). In making such determination of suitability, the Planning Board shall assess the size and suitability of lands shown on the subdivision plat which could be possible locations for parks or recreational facilities. The Planning Board shall also examine practical factors, including whether there is a need for additional facilities in the immediate neighborhood. Any monies required by the Planning Board in lieu of land for park, playground, or other recreational purposes, pursuant to the provisions of this section, shall be deposited into a trust fund to be used by the Town exclusively for park, playground, or other recreational purposes, including the acquisition of property.