The title of my March 11 post was “Waterloo nears restrictions on payday lenders, pawn shops.” Perhaps that conclusion was premature. Not all Waterloo council members are sold on the restrictions. The latest article from the Waterloo Cedar-Falls Courier is here.
According to this article from the Waterloo-Cedar Falls Courier, the Waterloo Planning and Zoning Commission voted unanimously to adopt zoning revisions that would severely restrict the establishment of new payday lenders and pawn shops. The amendments will go to the city council in April.
Waterloo’s proposed zoning ordinance governing “deferred deposit services” would not allow additional payday lenders or pawn shops to locate in the downtown C-3 zoning district or S-1 shopping center districts. They would only be allowed in the C-2 commercial district or manufacturing zones. In addition, new payday lenders or pawn shops could not open within 600 feet of each other, liquor stores or bars, adult uses or any of a long list of “protected uses” in the city.