CITY COUNCIL REGULAR MEETING AGENDA PACKET

Ordinance No. 2282 Page 1 of 9 ORDINANCE NO. 2282 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PLEASANTON APPROVING THE SIXTH AMENDMENT TO THE STONERIDGE SHOPPING CENTER DEVELOPMENT AGREEMENT TO EXTEND THE TERM FOR SIX MONTHS WITH POTENTIAL ADDITIONAL EXTENSIONS OF THE TERM WHEREAS, Stoneridge Properties LLC (Developer) has applied for a Sixth Amendment to the Development Agreement for the properties at 1008 - 1700 Stoneridge Mall Road for a six (6) month extension of the term to December 31, 2024, contingent upon a contribution of $50,000 by Developer towards the Stoneridge Mall Framework planning effort, plus an additional potential further extension of two (2) to four (4) years, contingent upon the deposit of an additional funds and a determination by the City Manager or City Council that Developer has made good faith material progress toward funding a master plan by December 31, 2026, regarding its approximately 362,790-square- foot remaining permitted expansion of the Stoneridge Shopping Center; and WHEREAS, a Supplemental Environmental Impact Report (SEIR) was prepared and certified on January 4, 2012, for the Housing Element update and Climate Action Plan General Plan Amendments and Rezonings that supplemented the Environmental Impact Report (EIR) prepared for the Pleasanton 2005-2025 General Plan, certified in July 2009. This SEIR and the Addendum for the Stoneridge Mall Commercial Replacement and Expansion Project dated April 16, 2019 anticipated completion of the subject 362,790 square foot expansion of the Stoneridge Shopping Center. In addition, the cumulative impacts of the development permitted under the Development Agreement and 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 23-1357. The California Environmental Quality Act (CEQA) specifies that individual development projects that are covered by a previously certified EIR or SEIR are exempt from additional environmental review. Therefore, there is no additional environmental document regarding this Development Agreement extension is required pursuant to Public Resources Code §21083.3 and CEQA Guidelines §15183; and; and WHEREAS, the Planning Commission held a public hearing on May 8, 2024, and adopted Resolution No. PC-2024-09, recommending the City Council approve the Sixth Amendment; and WHEREAS, on June 4, 2024, the City Council held a duly noticed public hearing on this application and considered all public testimony, agenda report, and related materials, including the recommendations of City staff and the Planning Commission; and WHEREAS, the City Council finds that accepting the initial $50,000 contribution and accepting potential additional deposits up to $150,000 will advance planning efforts for the Stoneridge Mall Framework plan, in conjunction with the 6-month to 4.5-year extension of the Development Agreement, is consistent with the City’s General Plan and will advance the master planning anticipated in the Stoneridge Mall Framework components adopted by the City Council on January 26, 2023. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON DOES HEREBY ORDAIN AS FOLLOWS: Page 22 of 248