The committee will discuss a by-law change that would require payday loan outlets be licensed.Įxisting stores would be grandfathered in, but staff suggest the number of stores will, over time, go down. That matter will be discussed in a separate debate at the Community and Protective Services Committee next week. The by-law would also prevent payday loan shops from being within 500 meters of a casino or racetrack and 300 meters of a school.Ĭity Staff say one of the issues with this by-law, however, is the fact payday loan businesses don’t require any development applications, so the City can’t keep track of when a new store is opening up. The committee approved a zoning by-law change that would prevent a payday loan store from being within one kilometer of another one. The City’s Planning Committee is moving forward with a plan to create a buffer zone around payday loan outlets.
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