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AGFUO - Public comments submitted for the June 1, 2021, City Council Meeting DOWNTOWN ASSOCIATION Page 3 of 3 Very sensibly, the existing AGFUO exempts any "existing, purpose-built building containing a bank orfinancial institution as its primary tenant/occupant." This policy illustrates how difficult it is to reclaim former retail space lost'to non-active uses. Because the AGFUO specifically calls out a "bank" or "financial institution" separately, we rely on the standard industry definition of a financial institution as including "a broad range of business operations within the financial services sector including banks, trust companies, insurance companies, brokerage firms, and Investment dealers" (investopedia.com). Although a broad category, there are only a few such existing purpose-built buildings on Main Street other than banks. The purpose of AGFUO should be primarily to prevent the further loss of existing active retail space to non-active uses on Main Street, not to punish owners of long- established purpose-built structures that never were retail spaces at anytime. CONCLUSION PDA members have interests on all sides of the above Issues. Even so, we are Joined in dedication to preserving downtown by working with the City of Pleasanton to create the most sensible, effective, and consistent policies for advancing economic, social, and civic life on Main Street. We believe the DSP and AGFUO are sound, were created with considerable citizen input, and require only modest revision to work even more effectively. Respectfully, Terri Terry President ac Grant Executive Director 333 Division Street Pleasanton, CA 94566 (925)484-2199 Distributed to City Council for the September 7, 2021, meeting Page 9