[Adopted 2-5-1987 by Res. No. 2-87]
[Amended 7-2-1987 by Res. No. 43-87; 8-27-2008 by Res. No. 179-08]
When the Philipstown Planning Board determines that a suitable park or parks of adequate size cannot be properly located in a plat or are otherwise impractical and that payment shall be made to the Town, such payment shall consist of the sum of $5,000 for the second and each additional lot subdivided from a tract and required to be shown on a plat approved by the Planning Board when such lot is located in a residential zone or is intended to be used for residential purposes and does not contain an existing dwelling (e.g., if a single tract is divided into two lots, a recreation fee of $5,000 shall be payable for the one new lot).
The required payment shall be made to the Town prior to endorsement of the Planning Board approval on the plat, and the sum received by the Town shall be placed in a trust fund to be used by the Town, as authorized by the Town Board, exclusively for neighborhood park, playground or recreation purposes, namely for acquisition of property and/or development of park, playground or recreation facilities (this expressly excludes any use for current operating expenses of recreation programs) located either outside the Villages of Cold Spring and Nelsonville or within such villages when the property is to be owned by and/or the facilities are to be owned by the Town of Philipstown.
This article may be modified from time to time by the Town Board in accordance with § 227, Subdivision 1, of the Town Law, as the same may be amended from time to time.