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Resolution No. PC-2024-09 Page 2 Section 2. Recommends that the City Council find that the approximately 362,790 square-foot expansion of the Stoneridge Shopping Center as set forth in the Development Agreement, as amended by the proposed Sixth Amendment, was covered by the mitigated negative declaration adopted in connection with the original Development Agreement, as well as considered as part of the EIR for the Pleasanton 2005-2025 General Plan certified in July 2009, and the SEIR for the Housing Element Update and Climate Action Plan General Plan Amendments certified in January 2012, and addressed in the Addendum for the Stoneridge Mall Commercial Replacement and Expansion Project dated April 16, 2019. In addition, the cumulative impacts of the development permitted under the Agreement and this Sixth Amendment, plus all development proposed under the City of Pleasanton’s 2023-2031 Housing Element, was studied in the Program Environmental Impact Report (SCH 2022040091) for that Housing Element certified by the City Council on January 26, 2023, by Resolution No. 23-1357. This Sixth Amendment merely extends the term of the previously approved Agreement and is consistent with the General Plan, and there are no impacts peculiar to the parcel or unstudied impacts relevant to this Sixth Amendment. Section 3. Recommends approval by the City Council of the application by Stoneridge Properties, LLC for a Sixth Amendment to the Development Agreement for its property at 1008 - 1700 Stoneridge Mall Road for a contribution of $50,000 towards the Stoneridge Mall Framework planning, an initial six-month (6- month) extension of the term to December 31, 2024; an additional potential further extension by either 18 months, to June 30, 2026, if contributions of $100,000 or $150,000 are received from the Other Mall Owners, or two (2) years, to December 30, 2026 if a contribution of $150,000 is received from Developer; and a further two-year extension to December 30, 2028 upon administrative determination by the City Manager, or by the City Council if so referred by the City Manager, of Developer’s completion of stated milestones related to the Stoneridge Mall Framework, as generally described in the attached Exhibit A. PASSED, APPROVED AND ADOPTED by the Planning Commission of the City of Pleasanton at a regular meeting held on May 8, 2024, by the following vote: AYES: NOES: ABSTAIN: ABSENT: ATTEST: _____________________________ ______________________________ Melinda Denis Matt Gaidos Secretary, Planning Commission Chair