CCMIN020387 - Laserfiche WebLink

401 the Downtown Association originally approved the concept but later rescinded their position. Mr. Ron Lymph, 4626 Willow Road, representing Security Pacific Bank, stated that Security Pacific Bank originally was a Southern California banking concern but moved to the Bay Area in early 1980. He stated their Northern Headquarters have been in San Francisco but they have been looking for a new location and selected Pleasanton because of its opportunities and ideal situa- tion for their offices. He advised there are approximatly 57 employees in the banking office and there would be an additional 50-60 people in the training center. He stated there currently are eight banks and savings and loan con- cerns in the downtown area, therefore he did not feel there was need of an- other financial institution in downtown. He stated the majority of growth is taking place in North Pleasanton and he felt this is where new banking firms will be needed. He advised that in order to increase their share of marketing it is very difficult for them to go into a community with more than one site, particularly if one site from an economic point of view would be the thing to do. He stated that one banking site in North Pleasanton for their head- quarters and bank would be appropriate and in their best interests. Mr. Levine stated there seems to be a strong fear about the issue of changing the bank location policy, feeling that financial institutions might leave the downtown area if the policy is changed. He stated the case by case method will allow Council to go slowly on decisions and see what happens. He advised his client would prefer not to wait until after the feasibility study presently being conducted, as he needs to get approval now. He stated he did not feel there would be a potential exodus from the downtown area; Stoneridge Shopping Center has been open for seven years and not one bank from downtown has closed its doors and moved out. Mr. Levine stated there are negative im- pacts if the policy is not changed; North Pleasanton will be underbanked, it will increase traffic, and is bad for consumers. He stated the alternatives proposed by City staff make sense but it is his strong feeling that the case by case method would work effectively. He advised that to wait to develop a series of standards to determine when downtown is adequately banked would cre- ate a hardship for Security Pacific Bank as well as Meyer Business Center. He asked that Security Pacific not be viewed as a outsider to change the policy. He requested that business parks be exempted from the banking policy or they be considered on a case by case basis. Mr. Levine stated that a letter had been received this date from Prudential Insurance Company in support of ex- empting banks in the business parks located in the North Pleasanton Improve- ment District. The following persons spoke in opposition to changing the banking location policy: Ms. Julie Strong, representing Capital Federal Savings, Dublin, stated they are concerned about guidelines that would be used on a case by case basis. Mr. Scott Raty, Executive Manager of the Chamber of Commerce, stated the downtown bank policy has worked to the benefit of the entire community for thirteen years and that the Board of Directors of the Pleasanton Chamber of Commerce recommends that no change be made to the policy at this time. However, it light of the dramatic changes occurring in Pleasanton's business environment it is appropriate to review the policy for it future impact. The Board of Directors also recommended that Council broaden the scope of the 6 - 2-3-87