PH - CR2013-103 - Adopt Resolution , Approving the Renewal of a Currency Exchange Licese for Pawn America Minnesota, LLC, Located at Blake Rd N--October 15, 2013
Council Report 2013-103
PUBLIC HEARING
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 No. 2013-064,
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 2013-064 approving the renewal of a currency exchange license for Pawn
America located at 168 Blake Road North.
• Letter from the Minnesota Department of Commerce.
Kristine A. Luedke, City Clerk
Financial Impact: $ Budgeted: Y/N Source:
Related Documents (CIP, ERP, etc.):
Notes:
Council Report 2013-103
Page 2
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 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
1. Adopt Resolution 2013-064, 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 2013-064
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 2014,
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 15th day of October, 2013.
LIM
ATTEST:
Kristine A. Luedke, City Clerk
Eugene J. Maxwell, Mayor
[NNESOTA
'ARTMENT OF
WMERCE
September 26, 2013.
Mr. Terry Obermaier, City Clerk
City of Hopkins
1010 1" Street So,
Hopkins, MN 55343
EGEIVE
SEP 3 0 2013
RE: Pawn America Minnesota, LLC — License #20182196
Currency Exchange License Renewal for 2014
Dear Mr. Obermaier:
85 7th Place East, Suite 500
St. Paul, Minnesota 55101-2198
mn.gov/commerce/
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 fled 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, 2014, 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
651-539-1707 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 local unit of government in which
the currency exchange business is located. The law further requires the governing body to give
published notice of its intention to consider the issue and shall solicit testimony from interested
persons, including those in the community in which the licensee is located. If the governing body has
not approved or disapproved the issue within 60 days of receipt of the application, concurrence is
presumed. The governing body shall have the sole responsibility for its decision. The state shall have
no responsibility for that decision. 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 ruly yours .-
o in H. Brown
Financial Institutions Division
651-539-1721
651-539-1548 (Fax)