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Mayor Reid declared the public hearing regarding the appeal of <br /> Citizen's Savings and Loan Association open.' <br /> <br /> Mr. Edgar presented the staff report regarding this matter. <br /> <br /> John Corley, Attorney representing Citizen's Savings and Loan, <br /> stated that since Citizen's Savings and Loan was hnable to locate <br /> in the downtown area, he urged favorable consideration of their <br /> application to locate in a neighborhood shopping center. <br /> <br /> Mr. Cowan, Senior Vice President of Citizen's Savings and Loan, <br /> representing the President, who was unable to be present, stated that <br /> the presence of Franklin Savings and Loan made it impossible for <br /> approval of any other applications in the downtown area for savings <br /> and loan institutions because of Government rules and regulations. <br /> He further stated that although the requirements of State law <br />makes it impossible to locate in the downtown area now, at some <br />future date, the savings and loan Commissioner may allow relocation <br />to the Central Business District. <br /> Mr~ Cowan urged approval of Citizen's Savings and Loan appli- <br />cation, pledging personnel participation in community activities, <br />influence in achieving goals of the City, greater public convenience <br />and financial assistance to downtown investors. <br /> <br /> Mr. Corley suggested that perhaps Citizen's Savings and Loan <br />could be located in the Alpha Beta Shopping Center with a time limit <br />to move downtown when the Central Business District warrants another <br />financial institution. <br /> <br /> Joe Schwab, Attorney representing Franklin Savings and Loan <br />Association read a letter written by Mr. Anthony FrankT, President <br />of Citizen's Savings and Loan to Commissioner McBann regarding the <br />alleged monopolistic practices of Franklin Savings and Loan and <br />Mr. Schwab's apparent support of these alleged practices. <br /> <br /> Mr. Schwab also read his reply to Commissioner McBann in <br />answer to Mr. Frank' s letter which purported to refute the allega- <br />tions in Mr. Frank ' s letter. <br /> <br /> Mr. Ralph Burke, Citizen ' s Savings and Loan Association ,urged <br />approval of the application, after presenting a brief background of <br />the application. <br /> <br /> It was moved by Councilman Mori, and seconded by Councilman <br />Herlihy, that the public hearing be closed. <br />The roll call vote was as follows: <br />AYES: Councilmen Herlihy, Kinney,Mori, Pearson and Mayor Reid <br />NOES: None <br />ABSENT: None <br /> <br /> It was moved by Councilman Pearson and seconded by Councilman <br />Mori, that the appeal of Citizen's Savings and Loan Association to <br />locate in the Alpha Beta Shopping Center, with the condition that <br />the Conditional Use be limited to five (5) years be granted: <br />The roll call vote was as follows: <br />AYES: Councilmen Mori and Pearson <br />NOES: Councilmen IIerlihy, Kinney and Mayor Reid <br />ABSENT: None <br /> <br /> It was understood that as a result of the failure of the above <br />resolution, the appeal was deemed denied. <br /> <br /> -3- 11/27/72 <br /> <br /> <br />