City Council Meeting Date: November 26, 2024
To: Mayor and City Council
City Administrator
From: Lynette Peterson, City Clerk
Title
Consider Recommending Approval to Minnesota Department of Commerce of 2024 Currency Exchange License Renewals for Servicios Latinos Menas, LLC at 300 Linden Street S. and Northfield Financial, LLC at 650 Professional Drive.
Body
Action Requested:
The Northfield City Council considers approval of the attached Resolution Recommending Approving of 2025 Currency Exchange License Renewals for Servicios Latinos Menas, LLC located at 300 Linden Street S. and Northfield Financial, LLC at 650 Professional Drive.
Summary Report:
The staff presentation for this item will be completed during the public hearing. No additional presentation will be made under this agenda item.
Currency exchange licenses are regulated, issued and renewed by the Department of Commerce. The Department of Commerce is responsible for ensuring that the applications meet the requirements in State law. Minnesota Statute 53A.04 (a) regulates approval or denial of an application as follows:
(a) Within 30 days after the receipt of a complete 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 body 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 is 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 of the governing body. The governing body shall have the sole responsibility for its decision. The state shall have no responsibility for that decision.
Staff has reviewed the locations for any police or zoning related compliance issues and recommends approval of the attached resolution.
Per the City Council Rules of Business, the public hearing serves as the opportunity to hear comment from the public on this issue. Therefore, there will be no additional public comment for this item in addition to the public hearing that relates to the action.
Alternative Options:
N/A
Financial Impacts:
The State charges a $500 renewal fee for this license therefore the City does not charge a fee for this type of license at this time.
Tentative Timelines:
The City has 60 days to take action on the application. Per Minnesota Statute 53A.04 (a), if the governing body has not approved or disapproved the issue within 60 days of receipt of the application, concurrence is presumed. The City received notice from the Department of Commerce on November 1, 2024 and has until December 31, 2024 to respond to the Department of Commerce.