CITY COUNCIL REGULAR MEETING AGENDA PACKET

Ordinance No. 2282 Page 6 of 9 F. The parties entered into the Fifth Amendment to Development Agreement (the “Fifth Amendment”), as approved by the City Council by its Ordinance 2249. The Fifth Amendment was recorded on March 4, 2024, as Instrument No. 2024031835 in the Official Records of Alameda County. It provides that the Agreement shall terminate July 1, 2024. G. The City and Developer desire to extend the term of the Agreement. In order to strengthen the planning process, encourage private participation in comprehensive planning, secure the orderly development of the shopping center expansion and provide greater opportunities for traffic management and cohesive, attractive site design and improvements and related economic benefits to the City, and to facilitate the future development of a comprehensive master plan for the shopping center, the City has determined that this Sixth Amendment is an appropriate supplement to the Agreement. H. The Agreement originally permitted an expansion of 380,000 square feet, which was reduced to 362,790 square feet due to construction of P. F. Chang's and the Cheesecake Factory. The permitted remaining expansion 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. I. On May 8, 2024, after conducting a duly noticed public hearing, the City Planning Commission recommended the City Council approve this Sixth Amendment, based on the following findings and determinations: this 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 districts (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. J. Thereafter, on June 4, 2024, the City Council held a duly noticed public hearing on this Sixth Amendment and made the same findings and determinations as the Planning Commission. On that same date, the City Council introduced the Ordinance. On June 18, 2024, the City Council approved this Sixth Amendment by adopting Ordinance _______. NOW, THEREFORE, pursuant to the authority contained in California Government Code Sections 65864-65869.5, and in consideration of the mutual covenants and promises of the parties herein contained, the parties agree to amend the Agreement as follows: 1. Section 2.2 is hereby amended and restated as follows: Page 27 of 248