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use any appropriate official index published by the Bureau of Labor Statistics, or similar agency as may then exist or may then be most nearly equivalent thereto." Section 4. Section 3.54 of the Redlands Municipal Code, entitled "Transportation Improvement Fees," is hereby amended to read as follows: "3.54.040: COLLECTION OF TRANSPORTATION IMPROVEMENT FEES: Transportation improvement fees shall be collected from applicants for development projects as provided in this chapter and approved by the City Council implementing this chapter. No building permit shall be issued unless the fees required by this chapter are first paid and the development project is consistent with the city's general plan. Fees collected pursuant to this chapter shall be deposited in a special fund established for the purpose of constructing the transportation improvements provided for in the city's general plan and approved capital improvement programs. The fees required by this chapter are in addition to any other means of financing facilities or improvements identified in the city's general plan which may be imposed on the development of property under the provisions of state law, this code or city policy. 3.54.080: ESTABLISHMENT OF FEE: In accordance with the city's general plan, the transportation improvement fees shall cover one hundred percent (100%) of the city's estimated costs for transportation improvements required by new development projects. The transportation improvement fees to be paid by a development project shall be based upon a determination of the number of vehicle trips generated by the development project, and the specific transportation improvement fee per trip generated shall be approved by the City Council. The transportation improvement fees collected shall be allocated to various transportation improvements comprising the city's street system, traffic signal system and freeway interchanges in percentages established by resolution of the city council. 3.54.090: ADJUSTMENT OF FEE: On July 1 of each fiscal year, beginning in July 2007, the director of finance shall make annual adjustments to the specific amounts of fees approved by the City Council by a percentage equal to the percentage chain (in the construction cost index of the "Engineering News -Record" - 20 cities annual average) for the preceding twelve (12) month period. This adjustment will offset the effects of inflation related construction cost increase (or any deflation related decreases). If this index should cease publication, the director of finance shall use any appropriate official index published by the bureau of labor statistics, or similar agency as may then exist or may then be most nearly equivalent thereto. Land costs may be evaluated annually and adjusted as necessary based on the current market conditions at the time." Section 5. Section 3.56 of the Redlands Municipal Code, entitled "Storm Drain Facilities Fees," is hereby amended to read as follows: "3.56.020: DEFINITIONS: Whenever the following terms are used in this chapter, they shall have the meanings established by this section: 3 I:\Ordinances\Nos 2900-2999 in Word\2962 Amending RMC Relating to Open Space and Park Fees Sewer Captital Improvement Fund (Adoption).docx-ms