The owner of the 40-acre former Plymouth Rubber site in downtown Canton moved another step closer to placing a commercial development in that location. Canton’s planning board approved a tentative commercial subdivision plan at a meeting on June 4 with several conditions, including that two traffic lights be installed — one in front of Canton’s Central Fire Station on Revere Street and one farther up Revere Street at the intersection with the train tracks. Developer Bernard Plante and his lawyer, Paul Schneiders, have repeatedly said they would prefer a residential development on the site, but that would require a Town Meeting vote to change how the property is zoned. Town Meeting has consistently voted against such a change. The approved plan would allow Plante to pursue talks with potential commercial businesses that want to build on the site.