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Mr. Roush said so long as the proper findings are made, the City has the right to impose <br />the moratorium. The Council might also look at other zoning policies in order to reduce density <br />in the North Pleasanton area. <br /> <br /> Mr. Pico said the likelihood of that happening is slim, because most of North Pleasanton <br />is close to being built out. <br /> <br /> Mr. Roush agreed that the amount of vacant land is shrinking. <br /> <br /> Ms. Ayala asked Council if it wanted the Stoneridge Mall to have a competitive edge <br />over other competitors in the area. <br /> <br /> Ms. Dennis felt she did not have enough information to make a decision. She supported <br />the expansion of the Mall, but not knowing what has to be done to accommodate this was <br />unnerving. She felt the West Las Positas study and traffic model validation needed to be done <br />first. <br /> <br /> Ms. Ayala said she was looking for a way to give the Mall the ability to compete in the <br />market while the City is continuing to do its studies. <br /> <br /> Ms. Dennis said it would not be that long before the studies were finished. <br /> <br /> Ms. Ayala asked how long. <br /> <br /> Mr. Swift said staff hoped to have the studies done by April of 1998. <br /> <br /> Mayor Tarver clarified that as of now the improvements that need to be made are the <br />obligation of Wells Fargo. He wanted to know if Wells Fargo was required to do these <br />improvements. <br /> <br /> Mr. Roush said at the time the Wells Fargo Development Agreement was entered into, <br />it was believed Wells Fargo would be developing ahead of Taubman and other developers; at <br />the time Wells Fargo develops the City would be able to call on them to front the money for the <br />improvements, subject to Wells Fargo being reimbursed as other projects developed. Because <br />Wells Fargo has not started development, the City cannot compel Wells Fargo to front that <br />money to do the improvements. Therefore, one of the reasons for this agreement was to move <br />Taubman into the first position, and Taubman would get reimbursed by other development. <br /> <br /> Mayor Tarver understood this, but wanted to know what was in the development <br />agreement for the City, if it was not for advancing the traffic improvements. <br /> <br /> Mr. Roush said the City received approximately $26,000 as part of the consideration and <br />the City hoped to receive a quality office development of approximately 600,000 sq. ft. <br /> <br />Pleasanton City Council 10/21/97 <br />Minutes 15 <br /> <br /> <br />