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FINANCIAL STATEMENT There will be a minimal increase to the budget for the maintenance of public improvements. Tax revenue generally covers the increased cost to provide services and maintain infrastructure. BACKGROUND On April 23, 2014, the Planning Commission recommended City Council approval of PUD-104 and PUD-81-22-14M, a PUD application by Workday to (1) construct a six- story office building, parking garage, and related site improvements located at 6110 Stoneridge Mall Road; and (2) to construct a parking garage, surface parking modifications, and a private landscaped area between the existing office buildings at 6120-6160 Stoneridge Mall Road; and (3) enter into a development agreement to vest the entitlements; and (4) approve a mitigated negative declaration in accordance with the California Environmental Quality Act (CEQA). On June 3, 2014, City Council adopted Ordinance No. 2100 approving PUD-104 and PUD-81-22-14M, and Ordinance No. 2101 approving a development agreement with Workday, Inc. to implement the PUD approvals. On June 7, 2016, City Council adopted Ordinance No. 2146 approving PUD-104-1M and PUD-81-22-15M, which modified the earlier approval to slightly decrease the size of the six-story building and to build one parking garage instead of two. On April 26, 2016, the City entered into a public improvement agreement for the public utility relocation of 6110 Stoneridge Mall Road with Workday. Said agreement addressed the relocation of public and private utilities within the Workday property. On May 2, 2017, City Council ordered the summary vacation of public service easements related to the Workday property. On July 18, 2018, a first amendment to the public improvement agreement was executed between the City and Workday. This amendment addressed the installation of roadway improvements on Stoneridge Mall Road and the adjoining Bay Area Rapid Transit District's property, as well as the installation of new traffic signals on Stoneridge Mall Road at Workday Way and at Rising Road/BART Garage. On November 12, 2018, a second amendment to the public improvement agreement was executed. This amendment addressed parking lot improvements on Nordstrom property at 1600 through 1690 Stoneridge Mall Road (opposite Workday Way), as well as roadway improvements to Stoneridge Mall Road along the Workday and BART frontages. On February 25, 2019, a third amendment to the public improvement agreement was executed. This amendment addressed the widening of Canyon Way east of Foothill Drive, the widening of Foothill Road south of Dublin Canyon Road, and the widening of Stoneridge Mall Road north of Stoneridge Drive. Page 2 of 3