Cedarhurst City Zoning Code
ARTICLE XA
Use of Space for Banks and Financial Businesses in General Business District
§ 265-96.1 Legislative intent and purpose.
This article is enacted for the purpose of promoting a balance in the uses permitted in the General Business District for the benefit of the businesses and residents of the Village of Cedarhurst and all consumers and others who engage in business in the General Business District in the Village of Cedarhurst. Pursuant to a review of the kinds and types of businesses located in the Village of Cedarhurst by the Board of Trustees, it has become apparent that the number of banks and financial institutions therein has become excessive in relation to the needs of the businesses and residents of the Village of Cedarhurst and all consumers and others who engage in business in the General Business District. In addition, the practice of some banks to transact and conclude long-term leases for space in the General Business District and to maintain such space in a state of vacancy for extended periods of time deprives the use of such space for all other permitted uses, promotes an increase in the vacancy rate and negatively affects the uniqueness of the General Business District in its historic ability to provide a variety of retail goods and services products to the consuming public and negatively affects the financial stability and welfare of the existing businesses therein.
§ 265-96.2 Findings; declaration.
The Board of Trustees finds that by reason of the foregoing, a disparity and imbalance of uses exists in the General Business District, which is deleterious to the financial stability and welfare of the existing business therein, and declares a moratorium on banks and financial institutions as hereinafter set forth.
§ 265-96.3 Restricted and prohibited uses.
The Village prohibits and restricts, in their entirety, on the ground floor of any structure in the General Business District, the following uses:
A.
Banks of all kinds engaged in the usual and customary business and practices of banks, including but not limited to retail banks, commercial banks, savings and loan associations, federal credit unions, mortgage companies, primary and secondary lenders, check cashing businesses, and safe deposit and facilities for the storage of valuables.
B.
Financial and investment businesses, brokerages and agencies of all kinds, including but not limited to those engaged in the purchase, sale and investment of stocks, bonds and securities of all kinds, fund management companies, and companies engaged in futures and options and/or hedge fund transactions.
§ 265-96.4 Existing uses.
A use prohibited in this article, which is existing and permitted prior to the date of its enactment, shall continue to be permitted for the duration of this moratorium.
§ 265-96.5 Severability.
In the event that any portion of this article is found to be invalid, it shall not affect the validity of the remainder thereof.
§ 265-96.6 When effective.
This article shall take effect immediately.