HARRISBURG, Pa., March 14, 2019 /PRNewswire/ -- The Pennsylvania Liquor Control Board (PLCB) reminds interested parties that bids for 25 expired restaurant licenses in the upcoming license auction are due by noon Monday, March 25.
This auction includes one license in each of the following 25 counties: Berks, Blair, Bucks, Clearfield, Dauphin, Delaware, Elk, Erie, Fayette, Huntingdon, Lackawanna, Lawrence, Lebanon, Lehigh, Lycoming, Mercer, Monroe, Montgomery, Northampton, Philadelphia, Pike, Sullivan, Venango, Wayne, and Westmoreland.
The eighth auction will again use a sealed bid process, which has so far resulted in winning bids on 235 licenses offered in previous auctions. Bids will be opened Thursday, March 28, and auction winners will be determined soon thereafter.
The minimum bid for each license is $25,000, and each bid must be accompanied by a bid surety of $5,000 or 5 percent of the total bid amount – whichever is higher – to avoid frivolous and underfunded bids.
The highest responsive bidder for each license will win the right to submit an application for the license to the PLCB within six months of auction award. If bid payment is not received within two weeks of auction award, the second-highest bidder will have the opportunity to apply for the license. Bids will be held in escrow by the PLCB, pending approval of the license application.
Lists of winning bids from each of the seven previous auctions are available on the license auction page of the PLCB website. Auction revenue recognized thus far from all previous auctions totals $25.1 million, while another $3.9 million remains in escrow, pending license approvals.
The PLCB regulates the distribution of beverage alcohol in Pennsylvania, operates more than 600 wine and spirits stores statewide, and licenses 20,000 alcohol producers, retailers, and handlers. The PLCB also works to reduce and prevent dangerous and underage drinking through partnerships with schools, community groups, and licensees. Taxes and store profits – totaling $16.5 billion since the agency's inception – are returned to Pennsylvania's General Fund, which finances Pennsylvania's schools, health and human services programs, law enforcement, and public safety initiatives, among other important public services. The PLCB also provides financial support for the Pennsylvania State Police Bureau of Liquor Control Enforcement, the Department of Drug and Alcohol Programs, other state agencies, and local municipalities across the state. For more information about the PLCB, visit lcb.pa.gov.
MEDIA CONTACT: Shawn M. Kelly, 717.783.8864
SOURCE Pennsylvania Liquor Control Board