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BACKGROUND The Stoneridge Shopping Center was constructed in the early 1980s by the Taubman Company. As part of the City's approval of this regional shopping center, the Taubman Company participated in funding portions of the 1-680/Stoneridge Drive freeway interchange, construction of improvements to the nearby City streets and intersections that accessed the shopping center from the 1-580 and 1-680 freeways, and construction of Fire Station No. 2 (6300 Stoneridge Mall Road). Development Agreement In November 1992, the City Council approved the original DA (Attachment 2) for the Stoneridge Shopping Center, which granted rights to expand the shopping center by approximately 178,000 square feet and approved a Sewer Agreement that addressed the allocation of sewer capacity for the uses within the shopping center. On January 6, 1998, the City Council adopted Ordinance No. 1732 approving the first Amendment to the DA, further increasing the Stoneridge Shopping Center by an additional 202,000 square feet, thereby totaling 380,000 square feet of expansion area. An amendment to the Sewer Agreement was also approved at that time which reserved 10,000 gallons of sewer capacity for the shopping center. In summary, the original and amended DA and related Sewer Agreement granted the following entitlements and restrictions to the owners of the shopping center and their successors: • Permitted the expansion of the shopping center floor area by a total of 380,000 square feet (The additional to -be -developed area has been reduced to 362,790 square feet of floor area due to the past construction of the P.F. Chang's and Cheesecake Factory restaurants). Also, Design Review approval was granted in 2019 for the Stoneridge Mall Commercial Replacement and Expansion Project by Planning Commission Resolution PC -2019-10 for net new construction of 79,269 square feet, but none of that square footage has been constructed. Accordingly, the total approved expansion remains at 362,790 square feet). Reserved 10,000 gallons per day of sewer capacity for the entire shopping center (This capacity has been used completely by the present shopping center retail businesses and restaurants). • Referenced the permitted and conditional uses of the CR(m) District of the Pleasanton Municipal Code (PMC) for the shopping center with the applicable City approvals. • Established parking ratios between 3.5 and 4.5 parking spaces per 1,000 square feet of floor area for different categories of shopping center uses (These vested parking ratios exceed the City's current typical retail parking standard of 3.33 parking spaces per 1,000 square feet). 2