City Council Meeting Date: June 6, 2017
To: Mayor and City Council
City Administrator
From: Deb Little, City Clerk
Title
Consider Approval of Amended Currency Exchange License for Servicios Latinos Menas LLC at 513 First Street W.
Body
Action Requested:
The Northfield City Council consider approval of the attached resolution Approving an amendment to a Currency Exchange License for Servicios Latinos Menas LLC to move from 875 Highway 3 N. to 513 First Street W.
Summary Report:
The amended currency exchange application was submitted to the Department of Commerce notifying them that Servicios Latinos Menas LLC plans to move its currency exchange operations from 875 Highway 3 N. to 513 First Street W. Servicios Latinos Menas has been operating at its current name and location at 875 Highway 3 N. since September 2008. Prior to that, the business operated as Mary Mena dba Servicios Latinos Mena at 507 Water Street S. #3. Servicios Latinos Menas is a family owned business that provides check cashing and money wiring. They note they do not have any employees.
Currency exchange licenses are regulated and issued by the Department of Commerce. The Department of Commerce is responsible for ensuring that the applications meet the requirements in State law. A complete copy of Minnesota Statute Chapter 53A related to Currency Exchanges is attached. 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 t...
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