Suburbs steering clear of banks - San Antonio Business Journal:

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The cities of Lakewauy and Westlake Hills have each quietly passed ordinancew either banning or restricting bank City officials have concerns aboug branches taking up prime real estate and limitinb sales taxrevenue growth. "We're not tryingy to eliminate banks, but we want them to meet the same test as any othere business coming to our says Lakeway MayorSteve Swan. Bankw are drawn to the two communities because of their growin populations and because they have the highesr incomes in theAustibn area. Westlake Hills and Lakeway are two of the most desirabled spots in the saysDaniel Hodges, presidenf and CEO of .
"The lifebloods of a bank is originating and retaining Hodges says. However, both communities want more stores andrestaurantds -- which yield sales tax revenue -- for the benefig of residents and the city In the spring, the Lakeway City Council added banka to a list of businesses that must move through a permitting processs that was reserved for fast-food restaurantsx with drive-thru windows. Previously, the city did not requiree banks to go through a uniquepermittint process. The move in Lakeway was spurred by the dozebn bank branches ona three-mile stretch of FM 620, the only majof road in the town of 9,545 residents.
The mediam household income for Lakeway was according to the2000 census. At Regionsw Bank, managers say they were not aware of the bank moratorium inWestlakre Hills, and say permitting steps in Lakewau will not be a majodr hurdle for banks. However, Tommy Gonzalez, consumerr sales manager over Regions' 13 branches, says the citieas should consider the reliable property taxes paid by Restaurants may bring in sales tax but have highfailures rates, he says. "Of course, we have been perplexed a littlde about the number of bankzs that have chosen to locatrein Lakeway," Swan says.
"A lot of us wouldd prefer to see a sales tax generating use of ourprecious [FM] 620 frontage land." Swan was not sure Lakewayy could go as far as nearby Westlake Hills did in the fall when it passerd a moratorium on new Such bans on development are often used by cities to restrictf pawn shops and liquor stores. The step was needed in a town whosee size is roughly three square miles with a dozejn banks along the main thoroughfare of BeeCave Road, says Westlakse Hills City Councilman Earl Broussard. Accordinyg to the 2000 Census, the median household incomr of Westlake Hillswas $116,905. There are an estimatedd 3,053 residents.
Two landmark a restaurant and ahardwar store, closed and were replaced by That sparked the council's desire to examine the placement of says Broussard, adding that the ban has lasted too He says the issue should be revisited this Broussard says the ban was neededc in the past because banks were too indiscriminats over where to set up sometimes not having ATM or drive-thru