CITY COUNCIL REGULAR MEETING AGENDA PACKET

Ordinance No. 2282 Page 2 of 9 SECTION 1. Finds that the 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 2. Finds that the Sixth Amendment is consistent with the objectives, policies, general land uses and programs specified in the vested General Plan; is compatible with the uses authorized in and the vested regulations prescribed for the land use district (C- R (Regional Commercial) and PUD-MU (Planned Unit Development – Mixed Use)) in which the property is located; is in conformity with public convenience, general welfare and good land use practices; will not be detrimental to the health, safety and general welfare of the City or the region surrounding the City; will not adversely affect the orderly development of property or the preservation of property values within the City; and will promote and encourage the development of the project by providing a greater degree of certainty with respect thereto. SECTION 3. Approves the Sixth Amendment to the Development Agreement with Stoneridge Properties, LLC, which includes a six-month extension and a $50,000 contribution by Developer towards the Stoneridge Mall Framework and directs the City Manager to execute, as generally shown in the attached Exhibit A, which may be modified as determined by the City Manager and the City Attorney for consistency with this City Council action prior to execution. SECTION 4. A summary of this ordinance shall be published once within fifteen (15) days after its adoption in “The Valley Times,” a newspaper of general circulation published in the City of Pleasanton, and the complete ordinance shall be posted for fifteen (15) days in the City Clerk’s office within fifteen (15) days after its adoption. SECTION 5. This ordinance shall be effective thirty (30) days after its passage and adoption. The foregoing Ordinance was introduced at a regular meeting of the City Council of the City of Pleasanton on June 4, 2024, and adopted on June 18, 2024, by the following vote: Ayes: Noes: Absent: Abstain: Page 23 of 248