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Page 6 of 7 the proposal would be responsible for the payment of current development impact fees and for the costs of any required utility or infrastructure improvements. The project would incrementally increase the demand for City services but would also add sales and property tax revenue. Additionally, the existing agreement already secures additional financial benefits to the City, such as payment of impact fees at current rates. ENVIRONMENTAL ASSESSMENT On January 4, 2012, the City Council certified a Supplemental Environmental Impact Report (SEIR) and adopted the CEQA Findings and a Statement of Overriding Considerations for the Housing Element and Climate Action Plan General Plan Amendment and Rezonings Supplemental EIR. This SEIR was a supplement to the EIR prepared for the Pleasanton 2005- 2025 General Plan which was certified in July 2009. The development contemplated in the DA is consistent with the development density that was evaluated and mitigated as part of these certified CEQA documents which are available upon request as part of Attachment 3. In addition, the City adopted an Addendum dated April 19, 2019, in connection with the Stoneridge Mall Commercial Replacement and Expansion Project, File P18-0340, which concluded the project would not cause any unstudied impacts or impacts peculiar to the parcel. The proposed Fifth Amendment does not result in any effects on the environment that are peculiar to the property or project that were not addressed in these prior CEQA documents, or which substantial new information shows will be more significant than described in these prior CEQA documents. Therefore, no additional environmental review is required pursuant to Public Resources Code section 21083.3 and CEQA Guidelines section 15183. SUMMARY/CONCLUSION This extension will enable Stoneridge Properties LLC (Simon Property Group) to continue to explore commercial expansion of the Stoneridge Shopping Center, broadening the City’s tax base and allowing the continued vitality of the shopping center. This amendment/extension would not alter or modify the obligations and responsibilities described in the original DA or subsequent amendments as they apply to the shopping center, except in ways that are to the benefit of the City, such as requiring the project to pay current development impact fees. With expectations of the completion of the outlined Stoneridge Mall Framework milestones in this amendment, staff believes the shopping center will continue to evolve and remain competitive in both the current development environment; thus, staff supports the request for the amendment/extension and recommends the City Council introduce the ordinance to approve the proposed Fifth Amendment. Prepared by: Submitted by: Approved by: Eric Luchini, Senior Planner Ellen Clark, Director of Community Development Gerry Beaudin, City Manager Attachments: 1. Ordinance to approve Fifth Amendment to the DA (Exhibit A) for the Stoneridge Page 33 of 371