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Page 3 of 7 <br />City’s traffic engineer to mitigate the impact of the additional floor area on traffic <br />operations. <br /> <br />The DA was subsequently further amended: in 2013 to extend the term for five years until <br />2017; in 2018 to extend the term for five additional years until 2022; and most recently in 2021 <br />to extend the term for one year until 2023. <br /> <br />Site and Area Description <br />The Stoneridge Shopping Center is located on an oval-shaped property defined entirely by <br />Stoneridge Mall Road. Figure 1, below, shows the Stoneridge Shopping Center and portions <br />of the I-580 and I-680 freeways and Foothill Road. <br /> <br />The properties surrounding the mall are located between Stoneridge Mall Road and the I-580 <br />I-680 freeways, Stoneridge Drive, and Foothill Road and are developed with a variety of office, <br />hotel, medical, restaurant, retail, and residential uses, including the recently constructed <br />building within the 10x Genomics campus. The newly approved 360-unit Stoneridge Mall <br />Apartment project will be located on a site in the southeast quadrant of the mall. <br /> <br />Figure 1: Stoneridge Shopping Center and Surrounding Land Uses <br /> <br /> <br />DISCUSSION <br />PROJECT DESCRIPTION AND DISCUSSION <br />The applicant requests the term of the DA be extended for another year to December 2024, <br />plus a City Manager option to extend the DA for one additional year until December 2025, <br />subject to the completion of performance milestones related to the Stoneridge Mall <br />Framework. The proposed Fifth Amendment and the existing agreement are attached as <br />Attachment 1 and Attachment 2, respectively. The proposed Fifth Amendment does not allow <br />for any additional development beyond that identified in the existing agreement and continues <br />Page 30 of 371