Our neighborhood was not pleased to see a payday lending store opening at the end of our block. It would have been the only on in all of Wauwatosa which tells me none was needed. I was happy to see this story on the jsonline daywatch blog.
WEDNESDAY, Nov. 8, 2006, 6:17 p.m.
By Annysa JohnsonTosa restricts pay day loan stores
Wauwatosa has become the latest Wisconsin community to limit where check cashing and other short-term loan companies can locate in their communities.
On Tuesday, the Common Council adopted an ordinance that would prohibit such businesses from locating in the special trade districts in the historic village area and along W. North Ave. east of N. 60th St. in an area known as the East Town business district.
The ordinance essentially blocks Texas-based EZ Corp. from opening a planned EZ Loan store at 6502 W. North Ave.
The city has imposed a one-year partial moratorium on such business elsewhere in the city that would keep them from locating within 300 feet of each other or a residence. Those restrictions, which were put in place to give the city time to draft a permanent proposal, are set to expire by Sept. 2007.
Other Wisconsin communities, including West Allis and Racine, have adopted similar measures.
