In many cases, this would mean adding at least one story to the building. The resulting expenses would drive out small, local businesses. Only the big, national chains could afford to carry that financial burden, but given the overall expensive, anti-retail policies of the City combined with the relatively small consumer community, it is unlikely that national chains will be willing to take the bit. Some people, no doubt, feel that they should, but those aren't the folks who are earning their livelihoods along 9th Street or trying to establish a healthy business and retail area along South 3rd Street. These areas provide services that downtown will never provide, and especially in the cases of 9th and 3rd Streets, are the only areas where certain types of retail and business development can realistically happen.
Bankers are in the business of loaning, so they'll find a way to do it.
The above statement was one City Councilor's response to a letter from Bill Humphreys of Citizens Bank. It will simply be harder for small business to get financing for building, for equipment, or for property renovation, because the financing risk levels are elevated. Yes, Councilor, bankers may be in the business of loaning and developers may be in the business of building, but if Corvallis is no longer a viable market in which to engage in these economic activities, bankers and developers won't be doing their business here. If bankers and developers don't do their business here, it won't matter how wonderful the Code might make Corvallis, because the ideal development that the Code is supposed to facilitate will never happen. It is not true that if you make rules, they will come.