HARRISBURG, Pa., March 7, 2017 /PRNewswire-USNewswire/ -- Following validation of 90 bids received by the March 3 deadline for the second restaurant license auction authorized by Act 39 of 2016, the Pennsylvania Liquor Control Board (PLCB) this week issued Notices of Selection to top bidders on 42 licenses.
Winning bids range from $25,001 for a license in Lower Yoder Township, Cambria County, to $463,802 for a license in Abington Township, Montgomery County. The average winning bid in the second auction was $119,315.
The number of bids received for each of the 42 licenses receiving bids ranged from one to five.
Seven licenses – one each in Beaver, Carbon, Franklin, Greene, Mifflin, Pike, and Wayne counties – received no bids, and the single bid for the license in Northumberland County was disqualified for being under $25,000.
Winning bids and bidders are posted to the PLCB restaurant license auction web page.
Top bidders have 14 days from the date of each Notice of Selection to remit full bid payment to the PLCB. If bid payment is not received within two weeks of auction award, the second-highest bidder will have opportunity to remit their full bid payment.
Once bid payment is received, each auction winner has six months to file a license application with the PLCB. Bids will be held in escrow by the PLCB, pending approval of the license application.
Revenue from this auction cannot be totaled until license approvals are granted and bids come out of escrow.
This auction included 50 licenses across 48 counties:
- One license in each of 40 counties that were not represented in the first auction, including Armstrong, Beaver, Bedford, Berks, Bradford, Cambria, Carbon, Clarion, Clearfield, Clinton, Columbia, Crawford, Elk, Fayette, Franklin, Greene, Huntingdon, Jefferson, Lackawanna, Lawrence, Lebanon, Luzerne, Lycoming, McKean, Mercer, Mifflin, Monroe, Montour, Northampton, Northumberland, Pike, Potter, Schuylkill, Snyder, Sullivan, Susquehanna, Venango, Warren, Wayne, and Wyoming counties.
- Two licenses each in Philadelphia and Allegheny County, where multiple bids were received in the first auction for each license made available.
- One license in each of six counties where bids demonstrated high demand in the first auction: Chester, Dauphin, Lancaster, Lehigh, Montgomery, and York counties.
Statewide, about 1,200 licenses that have expired since 2000 will be made available through auctions in the coming months and years.
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 $15.1 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 www.lcb.pa.gov.
MEDIA CONTACT: Elizabeth Brassell, 717.919.1905
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pennsylvania-liquor-control-board-issues-42-notices-of-selection-to-top-bidders-in-second-restaurant-license-auction-300419548.html
SOURCE Pennsylvania Liquor Control Board