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Resolution No. 98-161 <br />Page 5 <br /> <br /> C. A property owner that has dedicated land without compensation for the <br /> rights-of-way required for basic infrastructure improvements shall receive a credit <br /> against the Area Development Impact Fee, should such owner decide to develop, <br /> for the value of the right-of-way so dedicated. The credit shall be calculated per <br /> square foot of land dedicated based on an appraised value of $6.00 per square foot <br /> for office and commercial land and $3.94 per square foot for low density <br /> residential land. The dollar amounts shall be adjusted each January 1 based on the <br /> percentage change in the most recent CPI." <br /> <br />Section 5: This resolution shall become effective upon the effective date of Ordinance No. <br /> 1772. <br /> <br /> I HEREBY CERTIFY THAT THE FOREGOING WAS DULY AND <br />REGULARLY ADOPTED BY THE CITY COUNCIL OF THE CITY OF PLEASANTON, AT <br />A MEETING HELD ON DECEMBER 1, 1998 BY THE FOLLOWING VOTE: <br /> <br />AYES: Councilmembers - Ayala, Dennis, Michelotti, and Pico <br />NOES: Mayor Tarver <br />ABSENT: None <br />ABSTAIN: None <br /> <br />Michael H. Roush, City Attorney <br /> <br /> <br />