In the event the Planning Board makes a finding pursuant to the preceding subsection that the proposed site plan presents a proper case for requiring a park or parks suitably located for playgrounds or other recreational purpose, but that a suitable park or parks of adequate size to meet the requirement cannot be properly located on such site plan, the Planning Board may require a sum of money in lieu thereof, in the amount established in the current schedule of fees adopted from time to time by the Town Board. In making such determination of suitability, the Board shall assess the size and suitability of lands shown in the site plan that 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 monies required by the Planning Board in lieu of land for park, playground or other recreational purposes, pursuant to the provisions of this section, shall be deposited in the Town of Hyde Park Recreation Trust Fund to be used by the Town exclusively for park, playground or other recreational purposes, including the acquisition of property. In the event the Planning Board makes a finding pursuant to the preceding subsection that the proposed site plan presents a proper case for requiring a park or parks suitably located for playgrounds or other recreational purpose, but that a suitable park or parks of adequate size to meet the requirement cannot be properly located on such site plan, the Planning Board may require a sum of money in lieu thereof, in the amount established in the current schedule of fees adopted from time to time by the Town Board. In making such determination of suitability, the Board shall assess the size and suitability of lands shown in the site plan that 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 monies required by the Planning Board in lieu of land for park, playground or other recreational purposes, pursuant to the provisions of this section, shall be deposited in the Town of Hyde Park Recreation Trust Fund to be used by the Town exclusively for park, playground or other recreational purposes, including the acquisition of property.