Costs of constructing park facilities, population density, and local conditions change over the years, and, as such, the specified formulas for the calculation and payment of fees for acquisition and development of park sites as stated in this chapter is subject to and shall be periodically reviewed and amended by the City Council. The development portion of the fee shall be adjusted, starting on October 1, 2004, and on each October 1st thereafter, based on the one-year change (from July to July) in the 20-City Construction Cost Index, as published monthly in the Engineering News Record. Adjustments to the fees based upon the Construction Cost Index shall be automatic and shall not require further action by the City Council. The park development component of the fee, as well as the land acquisition component of the fee, may also be reviewed and amended by City Council as necessary to reflect current market conditions, as well as sound engineering, financing, and planning information. Adjustments to the fees resulting from these discretionary reviews may be made by resolution amending the master fee schedule. (Ord. 3303 § 1 (Att. A), 2014; Ord. 2971 § 1, 2004; Ord. 2886 § 1, 2002).