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ORDINANCE NO. <br />AN ORDINANCE AMENDING THE MINIMUM <br />REQUIREMENTS FOR ON-SALE LIQUOR LICENSES <br />The City Council of the City of Little Canada ordains: <br />SECTION 1 <br />Section 702. Type of Licenses <br />702.010. LICENSE REQUIRED. It shall be unlawful for any <br />person, firm or corporation to keep or operate an on -sale <br />establishment within the limits of the City without first having <br />obtained a license to do so as hereinafter provided. <br />702.020. "ON -SALE A RESTAURANT" INTOXICATING LIQUOR <br />LICENSE. Any establishment, under the control of a single <br />proprietor or manager, firm or corporation meeting the following <br />minimum requirements: <br />1. Initial Investment. An applicant for an "On -Sale A <br />Restaurant" license must initially invest or propose to <br />invest in the business a minimum of $750,000, excluding <br />land costs but including all fees, site development, <br />utilities, furnishings, fixtures and construction costs <br />based upon 1989 construction costs. The required <br />amount shall be periodically adjusted upward or <br />downward by amendment to this section to reflect <br />changes in construction costs as reflected in commonly <br />accepted construction cost indices. In the case of <br />multi - purpose buildings such as shopping centers, <br />motels, hotels, and the like, only that portion of the <br />building directly attributable to the preparation, <br />handling, storing, consumption or serving of food and <br />liquor shall be considered in determining the value of <br />the investment. In the event that a license is <br />proposed for an existing structure, the fair market <br />value for real estate tax purposes, exclusive of land <br />value, as determined by the City Assessor in the year <br />the license is first issued, may be used in place of <br />construction costs in determining whether the initial <br />investment requirement has been satisfied. An <br />applicant holding a leasehold interest in property may <br />also use the fair market value of the property for real <br />estate tax purposes as determined by the City Assessor <br />in the year the license is first issued for <br />determining whether the initial investment requirement <br />has been satisfied. An applicant purchasing an <br />existing licensed business and requesting a license <br />Page 121 <br />ATTACHMENT B <br />