PC 01/11/1995 - Laserfiche WebLink

do RZ-94-08. Citv of Pleasanton To consider amendments to the Pleasauton Municipal Code, the Downtown Specific Plan, and an established City policy regarding criteria for establishing and locating rmancial institutions including banks, savings and loan associations, finance companies, credit unions, and related services. Mr. Swift presented the staff report on the application by the City of Pleasanton to make amendments to the Downtown Pleasanton Specific Plan, the Pleasanton Municipal Code, and to establish criteria for establishing and locating financial institutions in the City of Pleasanton. The current policy is to require at least eight financial institutions be located downtown before a bank can locate in the outlying neighborhood shopping centers, with the exception that a downtown bank can have a branch in a commercial zone and the area around the Mall is exempt. There are currently five financial institutions downtown. Staff has worked with the Chamber of Commerce and the Downtown Association and has proposed to amend the code to reduce the number from eight to four financial institutions. Mr. Swift noted the language of the Specific Plan has also been made more generic. A modification was made to the Zoning Ordinance to eliminate the requirement for a full conditional use permit for financial institutions. In response to Commissioner McGuirk, Mr. Swift advised that larger banks do not prefer to be downtown. A market study indicated that eight financial institutions downtown is too many. It would be better to replace some banks with retail stores. Chairman Wright inquired if the Commission would see each application on a site-by-site basis if they are now permitted uses. Mr. Swift stated that drive-throughs, etc., would be presented to the Commission as a design review, not as a conditional use permit application. PUBLIC HEARING WAS OPENED No one spoke on this application. PUBLIC HEARING WAS CLOSED Commissioner Dove proposed eliminating credit unions from the list of financial institutions because they have restricted memberships. He advised there are five banks downtown and nine branches in the outlying neighborhoods (the four at the Mall are excluded). Commissioner Dove proposed that the code should be written stating that 25 % of the total banks in town have to be located downtown. He also proposed adding a caveat stating this guidance is null if the City offices move out of the Downtown area. In response to Commissioner Hovingh, Mr. Swift advised that the Wells Fargo Bank in the Safeway center is the bank that caused the policy to be drafted in the '70's. Commissioner Hovingh also commented that he feels that the banks that have "played fair" by going by the guidelines are now being penalized. He feels that the number should be reduced from eight to zero and let the free market take over. Planning Commission Minutes Page 11 January 11, 1995