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REQUEST FOR COUNCIL ACTION <br />DATE: 10/26/2009 <br />ITEM NO: 12.c <br />Department Approval: City Manager Approval: <br />,� d��,�,,, . <br />���� <br />� <br />Item DesCription: Consider Currency Exchange License Renewal for 2010: Pawn America <br />Minnesota, LLC <br />1.O REQUESTED ACTION <br />1.1 The following organization has applied to the Minnesota Department of Commerce and <br />the City of Roseville for the annual renewal and approval of their Currency Exchange <br />Licenses for the calendar year 2010: <br />• Pawn America Minnesota LLC, (License #20186066), 1715 North Rice Street <br />1.2 Minnesota Statutes Chapter 53A.04 requires the Department of Commerce to submit any <br />application for licensure as a currency exchange to the governing body of the <br />municipality in which the currency exchange conducts business. The law further requires <br />the governing body of the municipality to render a decision regarding the renewal of the <br />license within 60 days. <br />1.3 State Statutes also require the City to published notice of its intention to consider the <br />issue and solicit testimony from interested persons prior to taking action on the renewal. <br />2.O BACKGROUND <br />2.1 Minnesota Statute 53A.04(a) states: "Within 30 days after receipt of a completed <br />application, the commissioner shall deny the application or submit the application to the <br />governing body of the local unit of government in which the applicant is located or is <br />proposing to be located. The commissioner may not approve the application without the <br />concurrence of the governing body. The governing shall give published notice of its <br />intention to consider the issue and shall solicit testimony from interested persons, <br />including those in the community in which the applicant is located or proposing to be <br />located. If the governing body has not approved or disapproved the issue within 60 days <br />of receipt of the application, concurrence is presumed. The commissioner must approve <br />or disapprove the application within 30 days from receiving the decision from the <br />governing body. The governing body shall have the sole responsibility of its decision. <br />The state shall have no responsibility for that decision." <br />3.O STAFF COMMENTS <br />3.1 The Community Development Staff and City Attorney have reviewed the request and <br />determined that the request falls under the guidelines of permitted use within the S-2, <br />Retail Susiness District as a bank or financial institution. <br />Page 1 of 2 <br />