The city council directs that the fee levels established by Section 3.26.050 shall be reviewed prior to January 1st of each year by the director. The fee levels shall be compared to the Engineering News Record (“ENR”) Construction Cost Index. The fee levels may be changed in accordance with the percentage change in the ENR index from November 1st to November 1st of each preceding year, but in no case shall the indexing percentage increase or decrease in fees allowed by this section exceed that shown in the ENR index. When calculating the fee level to be charged for the coming calendar year, increments of less than one dollar shall be rounded to the nearest dollar. Before January 1st of each year, the director shall prepare an informational report to the city council containing the calculations required by this section. If any index adjustments and fee changes are appropriate, the same shall be effective on January 1st. (Ord. 2007-10 § 2, 2007)