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8.A. - Page 13 of 56 <br />2. Consider limiting new banks on key corner spaces. (Task Force recommendation) <br />Analysis: Retail works best when synergy (interaction) is created by having more retailers close <br />to each other. The reason for not considering banks on key retail corners is that banks or <br />financial services do not create the vibrancy retailers or restaurants provide on a visible, high <br />traffic corner. A vibrant retailer or restaurants on a key corner create interest from other <br />retailers to locate near that intersection and also create customer interest for other retailers on <br />side streets. Banks serve their clients and not the general public which limits potential spin-off <br />business for other merchants and restaurants. In addition, banking customers are diminishing in <br />number due to the use of online banking services and the convenience of ATMs. The lack of <br />pedestrian traffic from bank customers limits synergy with retail nodes. (The City of Redwood <br />City currently restricts financial institutions from opening within 200 feet from one another <br />within the DTPP area.) <br />Bay Area cities such as Burlingame, Morgan Hill, Mountain View, San Jose, and San Rafael have <br />ordinances that limit banks from occupying key retail spaces in their downtowns or requires a <br />special permit such as a conditional use permit. The requirement to secure a conditional use <br />permit allows the opportunity for a public hearing to review the use. Below is information about <br />policies these cities use to review the location of banks and financial services in their <br />downtowns. <br />The City of Burlingame requires a conditional use permit for financial institutions that <br />want to locate in the Burlingame Ave. commercial district. <br />http://gcode.us/codes/burlingame/view.php?topic=25-25 32-25 32 030&frames=on <br />The City of Morgan Hill requires a conditional use permit for locations under the ground <br />floor retail overlay which is along Monterey Road in the downtown; banks are allowed <br />elsewhere in the downtown. (See City of Morgan Hill Municipal Code 18.30.020 - <br />Downtown ground floor overlay zone, and Downtown Specific Plan Figure 8 (Permitted <br />Uses), p. 2-22); <br />https://Iibrary.municode.com/ca/morgan hill/codes/code of ordinances?nodeld=TIT1 <br />8ZO DIVIZOCO CH18.30OVZO0ODI 18.30.020DOGRFLOVZO (Morgan Hill Zoning Code) <br />https://www.morgan-hiI1.ca.gov/DocumentCenter/View/3195/DSP_200911?bidId= <br />(Downtown Specific Plan) <br />• The City of Mountain View requires a Provisional Use Permit. <br />The City of San Rafael restricts ground -floor commercial space to retail, personal service, <br />business service and restaurant uses in the core downtown zoning districts. Office and <br />financial service uses are considered conditional uses that require administrative use <br />permits, unless they are located at the rear ground floor level. <br />The City of San Carlos limits banks and financial institutions in the downtown core area <br />to establishments with a gross floor area of two thousand five hundred square feet or <br />less and to the ground floor of a building located on an interior lot a minimum of five <br />hundred feet from any other financial institution. <br />https://www.codepublishing.com/CA/SanCarlos/#!/SanCarlosl8/SanCarlosl805.html#1 <br />8.05 <br />The City of San Jose requires a special use permit (SUP) for banks to locate in areas of <br />the downtown where there is a ground -floor retail overlay. San Jose is also considering <br />removing the SUP requirement from the overlay, and, instead, adopt a protected corner <br />framework where a few key corners would be reserved for retail. <br />233 <br />