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Mr. ttoward Arerain, Real Estate Manager, Pacific Territory, J.C. Penny Company, stated his company had been looking at the Stoneridge site for four years, and feel that the site is well situated. He further stated they prefer not to be contiguous to an industrial development. They are pleased with the developers and prefer the Stoneridge site. Mr. Don Beeman, Executive Vice President of Hornart, which is a subsidiary of Sears, stated his company is pleased to be a part of this development team and endorse the Stoneridge site~ Mr. JOe .BUrkhardt stated the undertaking of 'this project has been a long and tedious one, and a great deal of' effort has already gone into the project. He further stated the stores represented here tonight show who is involved and the financial strength of this development. Mr. kv~er Naggar, Project Architect, presented the advantages of the Stoneridge site as follows: traffic patterns and circulation away from public streets; multi-level development; landscaped parking areas; open space areas for pedestrians; community rooms for activities; skat- ing rink; mini-theaters, etc. Mr. Joe Burkhardt stated that all of the men that have spoken in favor of the Stoneridge site have done so after extreme and detailed studies of this and other sites, and chose this particular site because of location and size. Mr. Marty Blackman, Traffic Consultant, stated he had appraised both sites. After the possibility of the Stoneridge Interchange, the first choice is the Stoneridge site. Mr. Ted Fairfield, MacKay and Somps, representing Stoneson Corp., elaborated on several points as follows: (1) with regard to the Cala- veras Fault, very detailed seismic studies have been completed showing no significant effect on the project; (2) with regard to school sites, negotiations and alternate school sites are under consideration with the School District and efforts for a satisfactory settlement are ~eing reached; (3) with respect to the multi-project, the residential develop- ment adjacent to the shopping center is compatible and desirable. He further stated the main three overriding features of the Stoneridge site were: (1) alternate land use, (2) traffice circulation, (3) devel- opment team. Mr. Joe Burkhardt emphasized favorable consideration of the Stone ridge site because the planned development, conforms with the General Plan, the planned residential property is desirable and com- patible, the development team is financially strong and could have the project underway by 1975 and completed by 1977, the support of the department stores, and the initiation of proceedings for the Stone- ridge Interchange. Mr. Jack Corley commented that there were discrepancies in the statements of the developers and that of Mr. Tay!or~ Mr. Alan Hart, retired District Engineer of District 4 of the Division of Highways, stated that he was still working when the matter of the.Stoneridge Interchange came before the Division of Highways, and that at that time there was no strong likelihood that it would be approved, and if it was, it would be at least 10 years before constrUc- tion. Mr. Ron Aguirre, 4531 Sierrawood Lane, member of the Murray School District Board of Trustees, stated he felt the Board was not getting cooperation from MacKay and Somps regarding school sites, and suggested -4- 10/30/72