V.1. Application for the Renewal of a Currency Exchange License for Pawn America Minnesota, LLC; Domeier (CR2017-20)
February 7, 2017 Council Report 2017-020
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 Adopt Resolution 2017-007,
approving the renewal of a Currency Exchange License for Pawn America Minnesota, LLC
located at 168 Blake Road North, Hopkins 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.
Primary Issues to Consider
The Regulatory Agency is the Minnesota Department of Commerce.
What is the process?
Alternatives
Supporting Information
Resolution 2017-007 approving the renewal of a currency exchange license for Pawn
America located at 168 Blake Road North.
Letter from the Minnesota Department of Commerce.
Amy Domeier, City Clerk
Financial Impact: $____________Budgeted: Y/N ____ Source: _______________
Related Documents (CIP, ERP, etc.): ______________________________________
Notes: _______________________________________________________________
Primary 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 t he 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
chapt er 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 Co mmissioner will assume approval and issue the
license.
Alternatives
1. Adopt Resolution 2017-007, 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 2017-007
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 7th day of February, 2017.
By__________________________________
Molly Cummings, Mayor
ATTEST:
______________________________
Amy Domeier, City Clerk