(a) Purpose. The regulations of this section are established to regulate the location of check-cashing businesses, and certain businesses that make short-term loans, small loans and mortgage loans, for the purpose of protecting neighborhoods from negative secondary effects created by the concentration or clustering of such businesses. Furthermore, the regulations are established to guard against market saturation which may lead to increased rates as an offset for lower business volume.
(b) Definitions. For purposes of this section:
(1) "Check-cashing business" means any business that is licensed, or is required to be licensed to cash checks under RC 1315.21 through 1315.30;
(2) "Short-term loan lender" means any business that is licensed, or is required to be licensed to make short term loans under RC 1321.35 through 1321.48;
(3) "Small loan lender" means any business that is licensed, or is required to be licensed to make small loans under RC 1321.01 to 1321.19; and
(4) "Mortgage loan lender" means any business that is licensed or is required to be licensed to make mortgage loans under RC 1321.51 through 1321.60.
(5) Exclusions. For purposes of this section, "check-cashing business", "short-term loan lender", "small loan lender" and "mortgage loan lender" do not include any bank, savings and loan, credit union or similar financial institution that is not licensed under, required to be licensed under, or otherwise regulated by the state laws cited in this division.
(c) Spacing. No check-cashing business, short-term loan lender, small loan lender or mortgage loan lender shall be established on a lot or lots within one thousand (1,000) feet of another lot or lots containing an existing check-cashing business, short-term loan lender, small loan lender or mortgage loan lender. No two (2) check-cashing businesses, short-term loan lenders, small loan lenders or mortgage loan lenders, in any combination, shall be located in the same building or on the same lot.
(d) Maximum Number. There shall be no more than one (1) check-cashing business, short-term loan lender, small loan lender or mortgage loan lender located within the City of Cleveland for each twenty thousand (20,000) persons residing in the City as recorded in the most recent decennial U.S. Census. No additional check-cashing businesses, short-term loan lenders, small loan lenders or mortgage loan lenders shall be established if the current number of check-cashing businesses, short-term loan lenders, small loan lenders or mortgage loan lenders exceeds the maximum number permitted.
(e) Exception. This section shall not apply to any check-cashing business, short-term loan lender, small loan lender or mortgage loan lender as defined above currently in operation prior to passage of this section.
(Ord. No. 670-12. Passed 10-22-12, eff. 10-25-12)