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<br />Commissioner Barker inquired if the number could remain at eight but would include stand- <br />alone ATM's. <br /> <br />Chairman Wright commented that he likes the idea of the market determining the number of <br />banks downtown, although he would not like to see all of the banks leave the Downtown <br />area. He believes it is an amenity to have a number of banks in the Downtown area. He <br />will follow staff's recommendation of four banks required Downtown. <br /> <br />Commissioner Lutz does not feel this is a market driven item. He believes there may be a <br />loss to Pleasanton because a bank may not want to open up a facility downtown, and citizens <br />who do not work downtown may be losing a convenient bank located in their neighborhood <br />shopping center. Because the downtown is now functioning, Commissioner Lutz feels the <br />policy should be suspended. <br /> <br />Mr. Swift noted that both the Downtown Association and the Chamber of Commerce <br />reviewed the policy. The Downtown Association recommended to reduce the number of <br />banks to four and the Chamber of Commerce recommended to eliminate the policy. <br /> <br />Commissioner McGuirk inquired why have such an ordinance if it can't be regulated. Mr. <br />Swift advised that the City has been enforcing the bank ordinance by disallowing a bank <br />branch to be sold to a different entity, as well as through conditions of approval placed on <br />new banks. <br /> <br />A motion was made by Commissioner Barker, seconded by Chairman Wright, <br />approving Case RZ-94-8 by adopting a resolution recommending (1) elimination of the <br />existing Financial Institution Policy (City Council Resolution 87-541) and (2) approval of <br />the draft amendments to the Pleasanton Municipal Code and Downtown Specific Plan, <br />attached as Exhibit A, and forwarding the draft amendments to the City Council for <br />review, with the following modification to Exhibit A: <br /> <br />18.08.092: "Financial Institution" includes those businesses engaged in deposit <br />banking or closely related functions, and shall include but shall not be limited to <br />the following types of businesses: banks and savings and loan associations. <br />Credit unions, mortgage bankers and brokers, loan companies and other non- <br />depository institutions shall not be considered a financial institution for purposes <br />of this Code. <br /> <br />ROLL CALL VOTE <br />AYES: Commissioner Barker and Chairman Wright <br />NOES: Commissioners McGuirk, Hovingh and Lutz <br />ABSENT: None <br />ABSTAIN: None <br /> <br />The motion failed. <br /> <br />Planning Commission Minutes <br /> <br />Page 12 <br /> <br />J annary 11, 1995 <br />