§ 6-79. Reserve class B liquor license—Economic development grant.

(a)

The village finds that the $10,000.00 fee mandated by the laws of the state exceeds the actual cost of licensing the activity, thereby generating additional revenue for the village and it is in the interests of the public welfare to use part of this additional revenue to increase the property tax base, to improve the interior or exterior of the licensed premise, provide employment opportunities, attract tourists and generally enhance the economic and cultural climate of the community by providing additional economic incentives for new businesses with liquor licenses.

(b)

After the granting of any new reserve class B liquor license and payment of the $10,000.00 initial issuance fee, the applicant may file with the village clerk an application for an economic development grant of $9,000.00. The $9,000.00 economic development grant shall be paid out over three years at $3,000.00 per year as long as the applicant remains in business. The economic development grant shall be paid out every December for three years following the initial application for the economic development grant. The applicant applying for the economic development grant shall:

(1)

Use the additional revenue from the economic development grant to improve the interior or exterior of the licensed premise and to increase the taxability of the licensed premise.

(2)

Current holders of reserve class B licenses may apply for the economic development grant with the stipulations as noted above.

(Ord. No. 766-09, § 1, 2-9-2009)