Where a proposed park, playground or other recreational
facility shown on a Master Plan is located in whole or in part in
a proposed subdivision, the Planning Board may require the subdivider
to reserve such areas for said purpose.
In developments not anticipated in the Master
Plan, the Planning Board may require the reservation of areas or sites
for parks, playgrounds or other recreational purposes, no such areas
or sites, however, to be reserved unless it has an area of at least
three acres or will have at least that size when combined with probable
future reservations of land in adjoining subdivisions.
Where a subdivision is too small to establish
an adequate park, playground or other recreational area or where land
in a subdivision is unsuitable in character or where the Master Plan
or good planning judgment would not locate a recreation area, the
applicant will be required to provide a cash equivalent deposited
to the account of a Recreation Reserve Fund to be used either for
the acquisition of such areas in suitable locations or development
of such existing areas.
The amount of area to be reserved for purposes
contained herein shall be determined by use of the following standards,
which standards shall also be utilized in the calculation of equivalent
cash payments where the reservation of land is not required.
A. Reserved land never to exceed 10% of the entire area
of the proposed plat.
B. No land is to be reserved if it is less than three acres subject to §
162-35.
C. The value of the land per acre as determined by the
City Assessor times the number of acres the subdivider would have
had to reserve for recreational purposes equals the cash equivalent
payment.
When an area for a park, playground or other
recreational purposes shall have been required on the plat, the approval
of such plat shall not constitute an acceptance by the city of such
area.