CITY COUNCIL REGULAR MEETING AGENDA PACKET

Page 6 of 8 the first six months such as developing a more detailed scope, schedule and budget for subsequent phases; and initiating a collaborative process among owners to resolve issues of mutual concern, such as parking; and seeking qualified consultants as needed to support these efforts. If additional funding is received either from the applicant or the other Mall owners, the 18- month or two-year extension would provide additional time for the planning efforts initiated during the first six months to further advance. Thereafter, it would be at the discretion of the City Manager or City Council to grant an additional two-year extension based on material progress demonstrated by the applicant. While the exact tasks and progress steps to take place in the 18-month/2-year period are not called out in the DA, since they are yet to be defined, they conceptually could include conducting further baseline technical studies, developing and refining proposed design concepts, establishing more detailed planning standards, and developing a financial strategy and/or procuring additional resources to support any further planning and CEQA review. See Exhibit A for a complete list of terms of the DA terms, extension timeframes, and milestones. For these reasons, staff supports the DA extension. Staff believes the additional timeframes permitted by the Sixth Amendment would allow the Stoneridge Mall Framework planning efforts to progress and also facilitate the applicant’s participation in the process to secure the orderly development of the shopping center expansion, with greater opportunities to secure effective traffic management, cohesive, attractive site design, public and private improvements, and related economic benefits to the City. The DA process requires the City Council to determine if a DA is consistent with the General Plan. Based on the information in the report, staff finds this Sixth Amendment is consistent with the General Plan and recommends approval by the City Council. Finally, staff notes that although the other Stoneridge property owners are not parties to the DA, it is understood that participation and cooperation among the owners will be extremely beneficial, if not essential, to the success of the planning efforts at the mall. In addition to outreach with Simon Property Group, staff has communicated individually with each of the owners to apprise them of the proposed DA extension, and to encourage participation and collaboration in the planning process as it moves forward. PLANNING COMMISSION ACTION The Planning Commission held a public hearing on May 8, 2024, to review and provide a recommendation to the Council on the proposed extension of the DA (see Attachment 3). No public comment was received. The proposal was placed on the public hearing portion of the agenda, and the Planning Commission (4-0, 1 abstain) recommended approval to the City Council. EQUITY AND SUSTAINABILITY The action directly implements the Housing Element, a key goal of which is to increase housing opportunities, including opportunities for housing affordable to lower- and middle- income residents – both through inclusionary requirements, and creating more opportunities for partnerships with housing developers. The ordinance allowing the DA extension includes performance measures aimed at the completion of the Stoneridge Mall Framework and the shopping center has been identified as a housing opportunity site in the 6th Cycle Housing Element Update. This action also advances the sustainability goals of CAP 2.0, Strategy TLU- Page 320 of 428