04-10-1991 Council Agenda - Laserfiche WebLink

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premises in conjunction with the consumption of food. (b) On -Sale intoxicating liquor licenses shall permit the sale of intoxicating or nonintoxicating liquor in conjunction with dancing, singing, or vaudeville performances or entertainment for its guests. (c) Off -Sale intoxicating liquor license shall permit the licensee to sell intoxicating liquor in original packages for consumption off the premises only. (d) Temporary on -sale intoxicating liquor licenses shall permit the licensee to sell intoxicating liquor for a period of no more than three (3) consecutive days. 703.030. MINIMUM STANDARDS FOR "ON -SALE RESTAURANT" INTOXICATING LIQUOR LICENSE. The following minimum requirements must be satisfied prior to the issuance of an "On -Sale Restaurant" intoxicating liquor license. (1) Initial Investment. An applicant for an "On -Sale Restaurant" license must initially invest or propose to invest in the business a minimum of Seven Hundred Fifty Thousand Dollars ($750,000.00), excluding land costs but including all fees, site development, utilities, furnishings, fixtures and construction costs based upon 1990 construction costs. The required amount shall be periodically adjusted upward or downward by amendment to this section to reflect changes in construction costs as reflected in commonly accepted construction costs indices. In the case of multi - purpose buildings such as shopping centers, motels, hotels, and the like, only that portion of the building directly attributable to the preparation, handling, storing, consumption or serving of food and liquor shall be considered in determining the value of the investment. In the event that a license is proposed for an existing structure, the fair market value for real estate tax purposes, exclusive of land value, as determined by the City Assessor in the year the license is first issued, may be used in place of construction costs in determining whether the initial investment requirement has been satisfied. An applicant holding a leasehold interest in property may also use the fair market value of the property for real estate tax purposes as determined by the City Assessor in the year the license is first issued for determining whether the initial investment requirement has been satisfied. An applicant purchasing an existing licensed business and requesting a license transfer must establish that the fair market value of the business equals the amount of the initial investment required hereunder. The Council may provide for an independent appraisal at applicant's expense, as an aid -9- Page 20