May 31st, 2008
After a long winded back and forth in the comments Don O. Provided a what may be the reason for all of the sales. His comment is below the original post.
Boise Liquor License For Sale - $150000
Date: 2008-05-29, 9:34AM MDTSeasoned Boise liquor license for sale. Excellent ROI (13+%) Currently leased to popular and well known business. Continuation of lease possible if not needed immediately. Please, serious inquires only.This is the forth or fifth Liqour License That has been on Criaglist lately. Wonder why so many for sale? What do these owners know? It seems a little like when the CEO of a big corporate sells out just before his company stock price tanks.
A lot of angst in the repartee but what of the question? Are the actions of the Legislature diluting the value of current liquor licenses? Should liquor licenses be traded on the open market or does the license belong to the state?BACKGROUND:
Idaho Code specifies that owning a liquor license is a
privilege not a property right. In essence, a franchise granted
by the public (the state) to a licensee to sell liquor-by-the-
drink in a specified area. The number of licenses that can be
issued is established in Code. There are presently 754 city
licenses and 199 specialty licenses, 19 of which we specifically
granted in the legislature.
Even though liquor licenses are a privilege, they have been
treated as though they had been purchased from the state with
“ownership†allowed to be transferred at will for primarily the
licensee’s financial benefit. These licenses have been used as
collateral for loans and included in “owner’s†wills and estates.
The highest price paid for a license is $435,000, but the average
is less than $100,000, depending on location. When licenses are
transferred, 10% of the fair market value of the license is
remitted to the state with the licensee keeping 90%.
The State Alcohol and Beverage Control Bureau has a long
list of citizens applying to receive liquor licenses - issued
first-come, first-served. Some of these people have no interest
in getting a license except to sell it.PURPOSE OF LEGISLATION:
The purpose of this legislation is to take a major step
toward eliminating state sanctioned private trafficking of liquor
licenses and return the value of the license to the public who
owns it.
This legislation reverses the 90-10 split in sales proceeds
(10% is allowed for a licensee to cover transaction costs). For
licensees who purchase and resell their license, a 15 year
license purchase price amortization period authorized by the IRS
will apply. In those cases, 90% of the purchase price would be
split between the state and selling licensee. The portion of the
15 years amortized times 90% of the sales price will go to the
state with the reciprocal amount going to the selling licensee.
FISCAL NOTE
In 1998, 135 liquor licenses changed hands at a total value of
$1.5 million. In theory, had this law been in effect, general
fund revenues would have increased by 80% of that amount (10%
already received), net of the effect of the 15 year amortization
split discussed above (the net 1998 effect and the number and
value of future transfers cannot be determined).
Comment by Don O
May 29th, 2008
Back up and running. Swing out and catch Nathan Jay tonight,
May 27th, 2008
Here is a photo from the Martini Mix Off.
Reminds me of a Caravaggio painting.
May 27th, 2008
The Alive After Five line up is out and there is not one local act. Why? Even after last years impassioned e-mail from Lori (of Lori B! and the Boys) and the following out cry. Alive After Five will have not one of the bands that live and work here. Personally I find it odd and offensive to the Boise music community.
The Record Exchange owner Mike Bunnell is generally a huge supporter of the local acts. Why not on Wednesday nights downtown? Do the record companies spread some money around? Is it about beer sales? Boisee.com is confused. We have heard that the local bands don’t draw. Anybody else think this is wrong headed? What indie band from the Midwest will out draw $oul Purpose? Stella?, Jeremiah James? How about newcomers Denae and the Poor Boys, or Steve Fulton’s Motorflower project, or a whatever local country group is hot now. If you have to bring in an expensive road act. Get John Nemeth off the road and have a Frim Fram reunion. Man, that would be fun. Another blues powerhouse, Laura Price grew up on the base in Mountain Home is touring the area this summer. Doesn’t seem that hard to come up with somebody local to play. A group that would make the record companies, the beer companies, the politicos, and the event goers happy.
Even if the we must sell more beer argument is valid, so what? Alive After Five is a public sponsored gig. THINK LOCAL FIRST, remember!
While I am ranting, what happened to May?
May 25th, 2008
When I grow up i want to be a . . .boulevardier \boo-luh-var-DYAY; bul-uh-\, noun:
1. A frequenter of city boulevards.
2. A sophisticated, worldly, and socially active man; a man who frequents fashionable places; a man-about-town.
May 25th, 2008
Is it true that Jason of the Lift is buying Graineys. Boisee.com hopes so!!!
May 25th, 2008
Sounds like Neurolux owner Allan Ireland has made a success of Pengillys. Rumor has it that he has bought out Curtis Stigers and his other partner. Despite me initial skepticism, Pete’s old place has held up and thrived under Irelands steady hand. Thanks for keeping the music “live and local.”
May 22nd, 2008
It’s changed a bit!
The Bank of Idaho(Key Bank) isn’t up yet, so this is before 63. Can anyone get it closer?
May 21st, 2008
A savy reader sent us an(a) URL. For more info check out www.thinkboisefirst.org
May 19th, 2008
If you read Boisee.com much you know that we are a big fan of local. Local restaurants,retailers, local art, food, local, just about anything that isn’t from a chain or a big box. That is why we love the Think Boise 1st campaign. Don’t know much about “carbon impact†or whatever.Supporting local artists is much more fun then buying a ticket to see a band that plays a shed. Just seems that if you give your money to a neighbor, it helps keep the dollars closer at hand. Don’t know where “Mr. Starbucks†spends his cash, but I’m thinkin’ it not downtown Boise. If you buy food that comes from across town not across the world. It has to be better for all, right?
So “get it local.â€
May 18th, 2008
Russ Martin tells Boisee that the Bay is open and under “old” management.
May 16th, 2008
Herer is a different take on one of Idaho’s most favorite signs.
BTW a 12×36 inch canvas will be on display at the market this Saturday!
Also I have been shooting the Martini Mix-off. Will have some photos posted Saturday afternoon.
Mi
May 15th, 2008
Been hanging (both physically and my pics) at a new coffee joint downtown. The Fixx, is at the corner of 10th and Bannock.
What more could you ask for. The Fixx combines the cool urban feel of a coffee shop with an art gallery. The coffee is good, the staff pleasant and the location is nicely tucked away, just far enough from the downtown core to be more relaxed. They also feature local music on the weekend nights. Look for a special 1st Thursday in June.
May 14th, 2008
Things are warming up at the City Market. The spring produce is coming in and looks delicious. Down on the “Art†block the variety of work is very cool. Lot’s of photographers, glass blowers, illustrators and the like. Come down and check us out. Saturday mornings from 9:30till 1:30. Greg and I “the Streetshooters†are in our usual; space across from the Brick Oven, between Main and the Grove.
This year I am featuring mostly “Boise†themed work. Both on canvas and conventionally framed.
May 12th, 2008
Boise’s most often renamed bar is closed. The former Docksider et al. has a sign on the door thanking us for our patronage. The recent hang out of Nathan Jay Moody is at least for the time being done. With the dock season starting, I’m guessing it won’t be to long before this location re-opens. Although with another new name!
