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V.1. Application for the Renewal of a Currency Exchange License for Pawn America Minnesota, LLC; Domeier (CR2015-147)December l, 2015 Council Report 2015-1147 APPLICATION FOR THE RENEWAL OF A CURRENCY EXCHANGE LICENSE FOR PAWN AMERICA MINNESOTA, LLC Proposed Action Staff recommends adoption of the following motion: Move to Ado�t Resolution 2015-094, approvin� the renewal of a Currency Exchan�e License for Pawn America Minnesota, LLC located at 168 Blake Road North, Ho�kins MN. Overview Pawn America Minnesota LLC has applied to the Department of Commerce for a renewal of their currency exchange license. This license will allow them to continue to operate their "check cashing" service. Primarv Issues to Consider • The Regulatory Agency is the Minnesota Department of Commerce. • What is the process? • Alternatives Supportin� Information • Resolution 2015-094 approving the renewal of a currency exchange license for Pawn America located at 168 Blake Road North. • Letter from the Minnesota Department of Commerce. ���°��'`�����'�,�r��� ,,Y� Amy Domeier, City Clerk Financial Impact: $ Budgeted: Y/N Source: Related Documents (CIP, ERP, etc.): Notes: Primarv Issues to Consider • The Regulatory Agency is the Department of Commerce The Department of Commerce issues and regulates currency exchange licenses according to Chapter 53A04 from Minnesota State Statute. The City of Hopkins does not get involved in monitoring the activity other than the normal activities that are regulated by the pawn shop licensing process. Each year, before the license is renewed, the licensee is required to submit a financial report to the licensing agency. The Department of Commerce has done a background check on all of the officers and owners of the licensee. The background check was completed by the Minnesota Bureau of Criminal Apprehension. • What is the Process? Minnesota State Statute 53A.04 dictates the process for the application. The Department of Commerce has 30 days from the date of receipt of the application to deny the application or to send the application to the local jurisdiction. The local jurisdiction must hold a public hearing. If the City approves or denies the application, a resolution showing findings of fact for the approval or denial is sent to the Department of Commerce within 60 days of receipt of the application. The Commissioner cannot issue the license without approval of the local jurisdiction. If the application is denied, the commissioner shall send by mail notice of the denial and the reason for the denial to the applicant at the address contained in the application. If an application is denied, the applicant may, within 30 days of receiving the notice, request a hearing pursuant to chapter 14 of the State Statues. The City is responsible for the hearing and the cost of the hearing before an administrative law judge. Any denial must show substantial evidence findings to support the denial. If the City does nothing, after 60 days the Commissioner will assume approval and issue the license. • Alternatives l. Adopt Resolution 2015-094, approving the application for a currency exchange license renewal for Pawn America located at 168 N. Blake Road. 2. Do nothing, approval will be assumed within 60 days of receipt of the application. 3. Deny the application. If the application is denied, findings of fact must substantially support denial. Staff recommends alternative one. CITY OF HOPKINS HENNEPIN COUNTY, MINNESOTA RESOLUTION 2015-094 RESOLUTION APPROVING THE RENEWAL OF A CURRENCY EXCHANGE LICENSE FOR PAWN AMERICA MINESOTA 168 BLAKE ROAD NORTH, HOPKINS, MN WHEREAS, Pawn America Minnesota, LLC has applied to the Commissioner of the Minnesota Department of Commerce for the renewal of their currency exchange license for 2016, and; WHEREAS, The City of Hopkins has held the required public hearing and; WHEREAS, No reason could be found to deny the application for renewal of the currency exchange license, NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Hopkins does hereby approve Pawn America's application for the renewal of their currency exchange license. Adopted by the City Council of the City of Hopkins this lst day of December, 2015. I� ATTEST: Amy Domeier, City Clerk Eugene J. 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