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Guiding Principles The Framework Components includes the Guiding Principles provided by the three ownership entities (and as summarized above). These reflect Guiding Principles 1 through 10 as proposed by the three owners, with an additional three Guiding Principles (11-13) recommended for inclusion by staff to ensure the City's interests will be well-represented in future planning, as follows: • Development of new commercial uses occurs in a manner that provides a neutral or positive fiscal balance for the City; • The Framework Plan's aggregate quantities of land uses of all types, including any housing beyond that already zoned, contemplated in the 6th Cycle Housing Element or otherwise allowable through State housing density bonuses, shall be established in consideration of traffic and other environmental impacts; and • Development is governed by the Objective Design Standards for Housing Sites, the Framework document, and the Pleasanton Municipal Code, until such time a more tailored set of standards is established through future work on the Framework. Allocation of Housing Units Upon further review of the existing and future capacity at Stoneridge Mall, staff is recommending adjustment of the density range in the 2023-2031 Housing Element to be between 50 and 65 du/ac. Accordingly, each of the six legal parcels would be allocated between 150 and 195 du/ac, exclusive of any State Density Bonus units, resulting in an overall range of 900 to 1,170 units. This would equate to between 1,350 and 1,755 units if all projects qualified for a 50 percent Density Bonus —the actual maximum would depend on specific project applications, which may or may not seek density bonuses at the maximum allowed. The Framework Components document attached as Attachment 1 reflects this revised density and housing unit range. A key basis for the adjustment of the proposed density range to 65 du/acre, versus the 80 du/ac originally considered, was concerns about traffic congestion, particularly in light of the ability of projects to seek Density Bonuses. For the December 15, 2022 joint City Council and Planning Commission meeting, Fehr and Peers Transportation Consultants (Fehr & Peers) completed modeling evaluating up to 1,440 residential units, with alternatives that also looked at different amounts of commercial use. All alternatives showed similar levels of service (LOS) impacts, with the existing congested intersections continuing to experience congestion with the additional housing. After the December 15, 2022 meeting, staff asked Fehr and Peers to complete an additional model run evaluating the impacts of a residential development of up to 1,755 units, which as noted above is representative of the proposed 65 unit/acre density plus an estimated 50 percent density bonus. The number of new vehicle trips that would be generated by the 1,755 units were estimated using trip generation rates from the city's travel demand model. These rates are based on data from the Institute of Transportation Engineer's Trip Generation Manual. This manual is a national compilation of trip generation statistics for land-uses of various sizes and types. The analysis focuses on the PM peak hour of travel as traffic Page 6 of 11