2017-34 Amending PD Planned Development district 1312 N Water Street

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violation charged was that this particular use did not fall within the permitted uses of the approved PD Planned Development District. The petitioner proposes to amend the PD Planned Development District to allow for consumer credit services and professional office uses. The petitioner proposes to allow for the gas station/convenience store (3,641 square feet), a coin laundromat(2,640 square feet), sandwich shop/restaurant(1,548 square feet), professional office (1,540 square feet), retail (1,357 square feet) and consumer credit service (1,474). The square footage of the professional office, retail and consumer credit service split may vary, but the combined total of the three (3) uses will not exceed 4,371 square feet. The addition of professional office uses to this PD Planned Development will provide services to the citizens of this area which is consistent with the intent of the originally approved PD Planned Development and with the intent of the Macon County and Decatur Comprehensive Plan. Services currently provided on site include a laundromat, gas station and convenience store, retail and restaurants with ancillary video gaming. Since zoning is a tool to further the goals of the Macon County and Decatur Comprehensive Plan, staff recommends denial of the request to allow for Consumer Credit Services as a use on site. Staff is of the opinion that a consumer credit service in this area- which is located in the City's regeneration area- is not consistent with the intent of the Plan as it calls for economic stability for regeneration areas in our community. By definition, the regeneration area consists of neighborhoods that are undergoing a long term adverse transition of land use and/or density. These neighborhoods exhibit physical deterioration of private structures and public facilities, underutilized land and buildings, and declining property values. Consumer credit services regularly charge interest rates higher than traditional lending institutions (such as banks, credit unions, mortgage lenders, etc.), which in Staff s opinion, works in opposition of the goal of economic stability and provide a service to the regeneration area that is in direct conflict with defined area needs. Staff is of the opinion that this type of lending service is not beneficial to the health or stability of the economy in these regeneration areas. Staff believes this type of installment loan institution falls within the definition of the consumer credit service as it includes consumer installment lenders, payday loan lenders and title secured lenders. The definition does not limit to only these types of lenders and Staff is of the opinion that this is a similar use to all of these types of lenders. The Military Lending Act also groups this type of lending service with payday lenders and title secured lenders. Consumer credit as involved in the Military Lending Act is credit offered or extended to a covered borrower primarily for personal, family, or household purposes and is subject to a finance charge as well as payable by a written agreement in more than four (4) installments. The Military Lending Act does not allow for the lending of money to active duty service members, their family members or dependents where the MAPR(military annual percentage rate) exceeds 36 percent. The MAPR includes the APR(annual percentage rate) and other charges included in the loan agreement. Security Finance, which is currently located in GW Plaza, cannot provide loans as listed on their website to "...members of the Armed Forces serving on active duty or active Guard or Reserve duty or the Spouse or Dependent of such a person." If they cannot make loans to military, all of their loans would have a MAPR that exceed the maximum 36 percent as allowed by Federal Law. Staff is of the opinion that a lending service that is not appropriate for our nation's