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REQUEST FOR CITY COUNCIL ACTION DATE: 11/18/02 ITEM NO:XI. E. Manager Approv d: 12 _ ._ ~ Agenda Section: . ~ Consent Massive Cash LLC (formerly Cash Station LLC) request to operate a currency exchange business at 1745 Lexington Avenue (PF3331) 1.0 REQUESTED ACTION 1.1 Massive Cash, doing business as MoneyXchange, has applied to the Minnesota Department of Commerce and the City of Roseville for their annual renewal and approval to operate a Currency Exchange at 1745 Lexington Avenue (License #20293106). The City of Roseville must give published notice of its intention to consider the issue and solicit testimony from interested persons prior to taking action on the renewal. 1.2 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. 2.0 BACKGROUND 2.1 Minnesota Statute 53A.04(a) states: "Within 30 days after receipt of a completed application, the commissioner shall deny the application or submit the application to the governing body of the local unit of government in which the applicant is located or is proposing to be located. The commissioner may not, approve the application without the concurrence of the governing body. The governing shall 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 applicant is located or proposing to be located. If the governing body has not approved or disapproved the issue within 60 days of receipt of the application, concurrence is presumed. The commissioner must approve or disapprove the application within 30 days from receiving the decision from the governing body. The governing body shall have the sole responsibility of its decision. The state shall have no responsibility for that decision." 2.2 The subject property, 1745 Lexington Avenue, is within the Lexington Plaza Shoppes located north of Larpenteur Avenue between Arthur's Jewelers and Robert Paul TV. 2.3 The Lexington Plaza Shoppes site has a land use designation of"B", Business and a zoning designation of B-2, Retail Business District. 2.4 The Roseville City Council initially approved this license on August 13, 2001. PF3334 RCA (1 1 1802).doc Page 1 of2