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excellent connection to the station, and seek opportunities to improve the relatively limited pedestrian and bicycle network that exists today. Creating a finer-grained network of streets extending into and connecting through the interior of the mall site, consolidating vehicular entry points, and seeking opportunities to integrate non-vehicular paths and connections through the site, will be important goals. • "Right-Sizing" Parking Supply. The existing mall has over 6,600 parking spaces and offers a very high parking ratio compared to more contemporary retail parking standards. While it will be critical to ensure adequate parking to support all future uses, there is an opportunity to integrate more land-efficient structured parking as part of future plans and consider opportunities for shared parking for uses with different peak demands. • Market-Sustainable Development. The commercial and housing market has evolved since the Stoneridge Mall's original construction and will continue to change into the future. Given that buildout of any redevelopment plans will take place over multiple years, it may be appropriate to consider providing some degree of flexibility to accommodate market-driven changes over time, while ensuring an appropriate balance of retail, housing and other commercial uses. As part of the Framework, consideration should be given as to whether a minimum amount of retail should be required to be retained over time, at what level, and how it should be distributed to ensure it remains viable and successful. • Fiscal Balance. The mall has been a significant contributor to City sales tax revenue over the years but has suffered from the same overall decline in the retail sector seen across the country. It is likely that a future land use plan will include less retail than is in place today (or, at a minimum, provide for a broader array of retail-type offerings, for example, entertainment uses and/or local- serving retail like a grocery). Other uses such as housing, office, or lodging could offer increased property tax or hotel tax revenue. Various development scenarios will offer a different set of fiscal outcomes, in terms of revenue returned to the City, and potential cost of new services. EPS, as part of its professional services contract, will develop a fiscal model that allows for evaluation of different land use scenarios, and their relative fiscal pros and cons. Scope of Work The scope of work outlined for the project is elaborated in more detail in Attachments 2- 4, but includes a relatively streamlined, approximately 6-8 month effort that will result in the development of a Final Framework Concept and supporting documentation by approximately early March 2023. This timing will allow any policies derived from the Framework effort to be integrated into the Housing Element and related General Plan amendments. Key process steps include: • Assembly of background information, basemap creation and existing conditions, opportunities, and constraints analysis. Page C: of