consequences in the future. Consumers will have less choice, especially those who are already in a financially vulnerable position (Bond, 2016).
Targeted Approach
In a targeted approach, licensing or the zoning by-law can create buffer areas around specific land uses, such as casinos, addiction and treatment centres and areas where vulnerable populations reside. Buffering should be based on a legitimate land use planning rationale. Prohibiting PLE’s from operating within specific districts such as a Downtown Urban Growth Centre has occurred in other municipalities.
Hybrid Approach
A hybrid approach blends elements from both the blanket and targeted approach. Utilizing licensing or zoning by- law, PLE’s are restricted to a specific number across the municipality or by ward. Further restrictions are implemented by identifying buffer areas around land uses that have the potential for an adverse impact on the populations in those land use areas.
Payday Loan License Restrictions
In addition to the existing provincial licensing requirement, the City can require PLE’s to become licensed with a fee set by Council. Further restrictions could prohibit the transfer of an existing license to another payday loan establishment, effectively reducing the number of active licenses.
Risk Analysis:
The issues covered in this report do not raise issues of risk to the Corporation.
Financial Matters
This report makes no recommendation as to future action. There is no financial impact associated with this report.
Community Impact Risks
Climate Change Risks