No street improvement reimbursement fee shall be required in any case where the valuation of the proposed new construction, as determined by the building director, pursuant to guidelines set forth in the Uniform Building Code, does not exceed the sum of ten thousand dollars as adjusted by dividing said sum by the February 1982 Building Cost Index of 2200, as published in the “Engineering News Record,” and then multiplying same by the latest building cost index published at the time a building permit is issued. (Ord. 82-3 § 1, 1982)