09-24-2014 Council Agenda - Laserfiche WebLink

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CITY OF' LITTLE CANADA ORDINANCE NO. AN ORDINANCE AMENDING THE LITTLE CANADA CITY CODE, SECTION '703. INTOXICATING LIQUOR The City Council of the City of Little Canada hereby ordains: Section 1. Section 703.030. MINIMUM STANDARDS POR "ON -SALE RESTAURANT" INTOXICATING LIQUOR LICENSE is hereby amended to read as follows: 703.030.(1) MINIMUM STANDARDS FOR "ON -SALE RESTAURANT" INTOXICATING LIQUOR LICENSE. The following minimum requirements must he satisfied prior to the issuance of an "On -Sale Restaurant" intoxicating liquor license. (I) Initial Investment. An applicant for an "on -sale restaurant" license must initially invest or propose to invest in the business a minimum of One Million Dollars ($1,000,000), including all fees, site development, utilities, furnishings, fixtures and construction costs based upon 2011 construction costs, which will he adjusted annually by the Consumer Price Index For All Urban Consumers (CPI -U) in the Minneapolis -St. Paul area. The -required amount shag -be periodically ad' . e • .. dmcnt to this section to reflect ch. _ er Price Index (CPI): 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 value shall be determined by review of documents evidencing a sale of the property within the twelve (12) months preceding issuance of a license for the property in question. All documented costs associated with the renovation and furnishing of the property may be added to the purchase price when evaluating compliance with the initial investment requirement. 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 e -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 in determining the investment or the value of said business. In the event this requirement as to investment is not complied with within one year from the date of issuance of the license, the license may be revoked or suspended. 3