All persons, firms or corporations subdividing land under provisions of the Code of
the City for residential purposes within the boundaries of said City shall, prior
to the recording of their respective final plat, and subject to the other provisions
hereinafter following: (1) Dedicate land to be used solely and exclusively for public
park and recreation purposes or (2) Make an equivalent monetary contribution based
upon a value of the land required to be dedicated, in lieu of the actual transfer
of land; or (3) Dedicate land to a mandatory property owners association (P.O.A.)
for private recreation purposes.
Whether or not land or money or credit shall be accepted by the City shall be at the
sole option of the City Council. However, such option shall be available to the Council
only if the total population for the pertinent preliminary plat, as projected under
the provisions of this article, is less than two thousand five hundred (2,500) persons.
