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65 <br /> <br />12. REPORTS OF THE CITY MANAGER <br />Item 12a <br />Proposed Development Aqreement with Stoneridqe Corporate Plaza II <br />(Wells Farqo Bank) and Proposed Amendment to the Foothi11/SAB <br />Amended Development Deferment Aqreement (Sewer Permits) <br /> <br /> Mr. Bocian presented his report (SR 90:53) regarding the <br />matter. <br /> <br /> Mr. Mark Conroe, Mozart Development, 6140 Stoneridge Mall <br />Road, stated that Mozart Development is proposing to bring Wells <br />Fargo to town and that if this deal is done properly, it will be a <br />benefit to the City. <br /> <br /> Mr. David Nelson, representing Wells Fargo Bank, indicated <br />that the Development Agreement is a very important part of the <br />project being proposed to be built in Stoneridge Mall because it <br />would give the company the ability to plan an orderly, efficient, <br />and effective move to Pleasanton. <br /> <br /> Mr. Brandes stated that he was pleased that Wells Fargo was <br />coming to the community and that he would support anything that <br />would continue the negotiations. <br /> <br /> Mr. Mercer agreed that he would like to see Wells Fargo come <br />to town. However, he would prefer that Wells Fargo first let the <br />Council know what it wants to build, and from there, work on a <br />development agreement based on what the project is, rather than <br />start with a development agreement and then work on the project° <br /> <br /> Mr. Roush stated that the idea was to have both the <br />development plan and development agreement work simultaneously. <br />Clearly, the PUD would have to be considered and acted upon before <br />the development agreement was entered into. It would be the <br />Council's option whether to wait until after the PUD was <br />considered before working on the development agreement or have <br />staff work simultaneously on both. <br /> <br /> Mr. Tarver indicated that he has expressed some concerns in <br />the past regarding development agreements. He pointed out that on <br />page two of the report, staff mentions that in a development <br />agreement, the City Council relinquishes, to a large extent, the <br />ability to exercise future discretionary control over the project. <br />He stated that he did not object to staff looking at the <br />development agreement and project. However, he agreed with Mr. <br />Mercer that the Council needs to know about the project before <br />talking about the development agreement because there would be no <br />point in talking about the agreement if the project is not <br />acceptable or if it does not fit in the site. Moreover, a <br />development agreement should offset to a large extent some of the <br />concerns about the project. <br /> <br /> -23- <br /> 2-6-90 <br /> <br /> <br />