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DISCUSSION Staff has concluded that the City Council's previous approvals of the Development Agreement for the Stoneridge Mall are still advantageous for the City. If the extension is approved by the City Council, the development rights and responsibilities described in the previous Development Agreements for the Mall will remain in effect to December 31, 2017, therefore, enabling Stoneridge Properties to proceed with the development of the Stoneridge Mall as the economic climate improves. More information related to Sewer Use and Capacity for the Stoneridge Mall, the previously approved Nordstrom Expansion, design review for New Projects, and the approved high-density residential uses for the Stoneridge Mall property is addressed in the attached Planning Commission staff report. PUBLIC NOTICE Notice was mailed to all property owners within a 1,000-foot radius of the Stoneridge Shopping Center. Exhibit E is a copy of the noticing area. Staff has not received any verbal or written communications from the noticed property owners as of the writing of the staff report. Any public comments or concerns will be forwarded to the Planning Commission. ENVIRONMENTAL ASSESSMENT The original Development Agreement was the subject of a Mitigated Negative Declaration and Initial Study approved by the City Council on November 1996 in compliance with the California Environmental Quality Act (CEQA). The Initial Study that accompanied the Mitigated Negative Declaration included traffic analyses which determined that the shopping center's traffic with the expansion will occur primarily off-peak and, therefore, would not impact surrounding streets and intersections during the critical a.m./p.m. peak-commute hours. Staff notes that the traffic resulting from the remaining permitted floor area of 362,790 square feet was also addressed in the City's General Plan update EIR, and again in the Housing Element Supplemental EIR, confirming the conclusions of the original analysis. On January 4, 2012, the City Council certified a Supplemental Environmental Impact Report SEIR) and adopted the California Environmental Quality Act (CEQA) Findings and Statements of Overriding Consideration for the Housing Element update and Climate Action Plan General Plan Amendments and Rezonings (Attachment 2). This SEIR was a supplement to the EIR prepared for the Pleasanton 2005-2025 General Plan which was certified in July 2009. The 362,790-square-foot expansion of the Mall was considered and assumed to be completed in these CEQA documents, and, therefore, these previous CEQA analyses adequately evaluated the poi:ential impacts of this extension. CONCLUSION This extension will enable Stoneridge Properties to proceed with its commercial expansion of the Stoneridge Shopping Center. This extension would not alter or modify 2