First reading of proposed zoning ordinance to regulate payday lenders set for Tuesday
CHATTANOOGA, TN (WRCB) -
A proposed zoning ordinance that may regulate payday lenders will soon be presented before the Chattanooga City Council.
The city is working to decrease the concentration of payday lenders.
Brainerd road is saturated with payday lenders.
"Pawn companies, pawn shops, check into cash people, lenders, anything that falls under that rubric," said Councilwoman Carol Berz.
Many residents say they're eye sores.
"It's just staring you in the face," said Grady Wade.
Councilwoman Berz met with Mayor Berke and others last month to discuss options to keep the number of what they're calling "predatory lenders" to a minimum; by proposing a zoning ordinance that would put preventative measures in place if someone wanted to start a similar type of business.
"What this does essentially is stop these new predatory lenders from opening up if there's one within a quarter mile of one, or within 500 feet of a residential area," said Andy Berke.
Wade says he's glad someone is doing something about these.
"I think it's criminal what those places do to the impoverished people," said Wade.
He says if it were up to him. "I think they outta outlaw all of them," said Wade.
Council is set to have the first reading this Tuesday.