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The properties surrounding the mall are located between Stoneridge Mall Road and the 1-580 freeway, 1-680 freeway, Stoneridge Drive, and Foothill Road are developed with a variety of office, hotel, medical, restaurant, and retail uses. PROJECT DESCRIPTION AND ANALYSIS The applicant requests the expiration date of the Development Agreement for the Stoneridge Shopping Center be extended again for another five years, to December 2022. The proposed amended Development Agreement and the existing agreements are attached as Exhibit A and Exhibit B, respectively. Development agreements are public/private contracts specifically authorized by California State law with the purpose of providing to property owners more certainty about the entitlements and exactions that will apply to their property. The local government gets a legally binding promise the developer will provide infrastructure and/or pay fees required by a new project. The developer gets a legally binding promise it can build a project. The Development Agreement sets forth the rights and responsibilities between the City and the property owner/developer. Development agreements are primarily utilized on large, master planned developments constructed in a phased manner over a relatively long period of time, and often require significant investments in public infrastructure in the part of the private developer. They therefore encourage private investment, including the provision of public facilities that could not normally be required under a typical development plan review. The proposed modification to the Development Agreement does not allow for any additional development beyond that identified in the existing agreement and continues to require all new commercial projects be subject to Planning Commission Design Review approval administered at a public hearing. The Development Agreement process requires the Planning Commission provide a recommendation to the City Council for action. PUBLIC NOTICE Notice of this workshop was sent to all property owners and tenants/occupants within 1,000 feet of the subject properties as shown in Exhibit D, was published in The Valley Times, and was noted in the Pleasanton Weekly as an upcoming agenda item for the November 8, 2017, Planning Commission meeting. Staff has not received any verbal or written communications about the proposal as of the publication of this 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 CEQA. The Initial Study that accompanied the Mitigated Negative Declaration included traffic analyses which determined 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 the traffic resulting from the remaining permitted floor area of 362,790 square feet was also addressed in the General Plan EIR and Housing Element and Climate Action Plan General Plan Amendment and Rezonings Supplemental EIR, confirming the conclusions of the original analysis. P17-0904, 1008-1700 Stoneridge Mall Road Planning Commission 4 of 5