CR 2012-116 (PH Application for theRenewal of a Currency Exchange License for Pawn AmericaNovember 7, 2012
Council Report 2012-116
PUBLIC HEARING
APPLICATION FOR THE RENEWAL OF A CURRENCY EXCHANGE
LICENSE FOR PAWN AMERICA
Proposed Action
Staff recommends adoption of the following motion: Move to adopt Resolution No. 2012-086,
Approving the Renewal of a Currency Exchange License for Pawn America located at 168 No.
Blake Road.
Overview
Pawn America 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 Department of Commerce
• What is the process
Supporting Information
• Resolution 2012-086 Approving the Renewal of a Currency Exchange License For
Pawn America located at 168 Blake Road North
• Letter from the MN Department of Commerce
Kris Luedke, City Clerk
Financial Impact: $ Budgeted: Y/N Source:
Related Documents (CIP, ERP, etc.):
Notes:
Council Report 2012-116
Page 2
Primary Issues to Consider
• The Regulatory Agency is the Department of Commerce
The Department of Commerce issues the license and regulates the license according to Chapter
53A of the 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. Nothing was discovered in this investigation to cause the application to be denied.
• 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. The denial cannot be arbitrary or capricious.
If the City does nothing, after 60 days the Commissioner will assume approval and issue the
license.
• Alternatives
1. Adopt Resolution 2012-116, approving the application for a currency exchange license
renewal for Pawn America located at 168 No. 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 2012-086
RESOLUTION APPROVING THE RENEWAL OF A
CURRENCY EXCHANGE LICENSE
FOR PAWN AMERICA, 168 BLAKE ROAD NORTH
WHEREAS, Pawn America has applied to the Commissioner of the Minnesota
Department of Commerce for the renewal of their Currency Exchange License for 2013, 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 November, 2012.
By
Eugene J. Maxwell, Mayor
ATTEST:
Kristine A. Luedke, City Clerk
L 14100 716
[NNESOTA
'ARTMENT OF
�MMERCE
September 26, 2012
Mr. Terry Obermaier, City Clerk
City of Hopkins
1010 1" Street So.
Hopkins, MN 55343
RE: Pawn America Minnesota, LLC — License #20182196
Currency Exchange License Renewal for 2013
Dear Mr. Obermaier:
85 7th Place East, Suite 500
St. Paul, Minnesota 55101-2198
www.commerce.state.mn.us
651.296.4026 FAX 651.297.1959
An equal opportunity employer
CERTIFIED MAIL
The above-named currency exchange licensee has made application to renew its currency exchange
license to operate at:
168 No. Blake Rd.
Hopkins, MN 55343
Pursuant to Minnesota Statutes Chapter 53A.04, we are notifying your office that a complete currency
exchange license renewal application has been filed with the Department of Commerce. The renewal
application included the names of the officers and owners of the licensee, background checks on each
of the owners and officers from the Minnesota Bureau of Criminal Apprehension, a fee schedule of
all fees to be charged by the currency exchange office, a $10,000 surety bond valid through
December 31, 2013, and the $550 renewal fee. If you wish to receive a copy of the complete currency
exchange license renewal application form that was filed with this office, please contact Lynne at
651-296-2297 and it will be forwarded to you.
Minnesota Statutes Chapter 53A.04 requires the Department of Commerce to submit any application
for licensure as a currency exchange to the governing body of the municipality in which the currency
exchange conducts business. The law further requires the governing body of the municipality to
render a decision regarding the renewal of the license within 60 days. Your cooperation in
forwarding this information to the proper unit within your organization is appreciated.
Your reply must be received within 60 days of receipt of this letter. If you have any questions,
please contact me at the telephone number listed below.
Very tmy yours,
Ro in H. Brown
Financial Institutions Division
651-282-9855
651-296-8591 (Fax)