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ATTY/ORD.0010/CC ORD AMENDING MUNI CODE CH.18, 27A, 30 – EXHIBIT C REV: 09-17-24 VR Page 56 of 65 improvement is included on the Impact Fee Project List and (ii) that the grant of the credit, in lieu of the fee, will not cause the City to delay the implementation of park improvements that are of higher priority, in the judgment of the City Council, than the land or improvements to be dedicated. At the time the City Council makes these determinations, it must also make a determination of the maximum credit that will be allowed for the dedication, which maximum credit shall not exceed the City Council's reasonable estimate of the fair market value of the park improvement and/or land. The amount of any credit granted pursuant to this subsection shall not exceed the lesser of (i) the actual documented construction costs for the dedicated improvement plus the value of any dedicated land as supported by a professional appraisal or (ii) the maximum credit approved by the City Council pursuant to this subsection. No credit shall be given pursuant to this subsection for any dedication required by or made pursuant to Section 30.70, as the value of such dedications are already reflected in the calculation made pursuant to subsection A, above. D. Beginning July 1, 2023, and on each July 1 thereafter, each dollar amount set forth in this Article shall increase without further action by the City according to the following formula: City Council-Approved Rate * (Most Recent ENR/ENR at City Council-Approval Where the "City Council-Approved Rate" is the rate set forth in this Article, "Most Recent ENR" is the most recently published Construction Cost Index for the San Francisco Bay Area in the Engineering News Record when the calculation is made and "ENR at Council- Approval" is the Construction Cost Index published for the month in which the Council adopted the "Council-Approved Rate." The Administrator shall calculate the increased fee annually and give notice of that calculation in the manner required by law for the publication of ordinance of the City Council. Sec. 30.71. – MISCELLANEOUS CREDITS: A. If a subdivider dedicates land for park purposes pursuant to Section 30.70(A) then, in lieu of any credit available pursuant to Section 30.71(C) and only to the extent required by Section 66477 of the California Government Code, the subdivider may elect to have the value of park and recreational improvements provided by the subdivider to the dedicated land credited against the dedication requirement set forth in Section 30.70(A). B. Common interest developments, as defined in Section 1351 of the California Civil Code, shall be eligible to receive a credit against the amount of land required to be dedicated, or the amount of the fee imposed, pursuant to this Section, for the value of open space within the development, which is usable for active recreational uses. For purposes of this subsection, open space shall be deemed "useable for active recreational uses" only if, in the judgment of the City Council, that space meets the following criteria: