Common property in a Planned Development District is a parcel or parcels of land, together with the improvements thereon, the use and enjoyment of which are shared by the owner and the occupants of the individual building sites or the public in general. Where common property exists, the ownership of such property shall be either public or private. Where such property exists in private ownership, the applicant must address the issue of ownership and maintenance of such permanent open space lands. The Town Board may establish such conditions on ownership and maintenance, as it deems necessary, to assure the preservation of such lands for their intended purpose. A percentage of the acreage of any Planned Development District shall include land for recreational purposes and/or preserved as natural open space. Such areas shall encompass land having meaningful ecological, aesthetic and recreational characteristics, with access, shape, dimensions, location, topography and nature and extent of improvements suitable in the opinion of the Town Board for the intended purposes. Minimum percentages of common property shall be afforded each Planned Development District classification as follows: