(Toledo, OH) The Toledo plan commission is being asked today to grant a historic designation for the former Commerce Paper building downtown, which is also being considered for the national register of historic places. That would give a developer state and federal historic tax credits as part of the financing to convert the warehouse into 75 loft-style apartments. The Warehouse District building is more than 100 years old.
The Toledo plan commission also will weigh in later today on zoning restrictions for payday lenders. The proposed regulations would essentially place a moratorium on any new short-term lenders in Toledo.
Payday lenders would only be allowed to open roughly half-a-mile from each other. The zoning restrictions would only allow one short-term lender per 30-thousand people in Toledo...or a maximum of nine, according to the current population. Current short-term lenders would be grandfathered under the new regulations if they're adopted.