Naperville may restrict downtown banks

Naperville officials will spend at least another month debating whether banks and other financial institutions should be allowed on the first floor of downtown buildings.

City council members on Tuesday tabled a proposal until at least March that would require downtown banks to seek a conditional use before opening their business at street level.

In the meantime, city staff members will meet with officials from the Downtown Advisory Council, Downtown Naperville Alliance and the Naperville Area Chamber of Commerce to determine whether such restrictions would “encourage commerce and stimulate complimentary retail businesses in the downtown.”

Chamber President and CEO John Schmitt said before Tuesday’s council meeting that the chamber supports the city’s desire to encourage a shopping-friendly downtown. His members, however, strongly disagree with the need to place restrictions on financial institutions.

“The chamber does not believe it is the proper or necessary role of government to pick and choose, on a location by location basis, what businesses can and cannot be permitted in the downtown, Schmitt said. “The proposal to make financial institutions a nonconforming use places an additional barrier to development, job creation and economic activity.”

Some council members agreed during Tuesday night’s meeting and said the city needs to let downtown development be market driven.

“We need to let the market determine who’s going where,” Councilman Dick Furstenau said. “It concerns me when we put in changes that help certain segments of the business community over others. Somebody paying rent downtown is paying with the same green dollars as the next guy.”

Councilmen Kenn Miller and Paul Hinterlong also opposed the measure before voting to table it for a month.

“I don’t think there’s a problem with this yet,” Hinterlong said. “If anything we have too many restaurants and bars.”

The amendment is likely to be brought back to council on March 1.