A.
Before the Planning Commission may approve a subdivision plat containing residential units, such subdivision plat shall also show, when required by such Commission, a park or parks suitably located for playground or other recreational purposes. Such park or parks shall contain no less than 10% of the gross land area of the subdivision.
B.
Land for park, playground or other recreational purposes may not be required until the Planning Commission 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 village. Such findings shall include an evaluation of the present and anticipated future needs for park and recreational facilities in the village based on projected population growth to which the particular subdivision plat will contribute.
C.
In the event that the Planning Commission makes a finding pursuant to Subsection B above 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 Commission shall require a sum of money in lieu thereof, in an amount to be established by the Board of Trustees. In making such determination of suitability, the Commission shall assess the size and suitability of land shown on the subdivision plat which could be possible locations for park or recreational facilities, as well as practical factors, including whether there is a need for additional facilities in the immediate neighborhood. Any moneys required by the Planning Commission 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 village exclusively for park, playground or other recreational purposes, including the acquisition of property.
D.
Existing features which would add value to residential development, such as large trees, watercourses, historic spots and similar irreplaceable assets, should be preserved insofar as possible, through harmonious designs of the subdivision.
E.
The layout of the proposed subdivision shall be in general conformity with the features or developments proposed in the Master Plan of the Village of Colonie.
F.
All roads, parks and required easements shall be indicated on the plat. Formal offer of cession to the public of all roads and parks to be offered to the public shall be filed with the Planning Commission prior to approval of the plat by the Planning Commission. The applicant may add, as part of the plat, a notation, if he so desires, to the effect that no offer of decision of such roads and parks or any of them is made to the public.