Medford Township is putting the now closed Beau Rivage liquor license to bid Oct. 3 with a starting price of $600,000, in addition to bringing two more licenses to the table.
According to township manager Chris Schultz, the license has been inactive for a long time and the state deemed it “dead.”
According to councilman James “Randy” Pace, the council reviewed what the last license sold for and compared it to surrounding townships for what they sold for, landing them at $600,000.
“You always run the risk that no one is going to bid that amount, in the event we don’t receive any, we’ll consider lowering it to $500,000,” Pace said. “That part of the equation is moot per getting bids on the license.”
“The hopes is that someone will bid for it,” Schultz said. “It’s a one time revenue, hopefully an opportunity for a rest or a developer to put in a restaurant. The overall strategy is to attract businesses.”
According to Schultz and Pace, a member of the Medford Village East Associates is currently carrying two licenses.
According to township officials, the member has been renewing in hope to use them for a project, which never got off the ground.
“The intent was when he constructed the commercial project, he was going to have a restaurant portion,” Schultz said. “It’s been on the table for more than 10 years and nothing has been done.”
The township plans to challenge the renewal to put them up for bid, as well.
“The goal is to bring in a tax ratable that benefits the township as well as growing local business,” Pace said.
According to Pace, ratables are general about 80 percent residential and 20 percent commercial in most towns. Medford is running 94 residential to six percent commercial ratables.
He is hopeful putting the licenses out to bid will draw more businesses into town.
“We still have a long way to go,” Pace said. “But it won’t change what the town is. We won’t turn into Cherry Hill to attract businesses.”
Pace emphasized Medford is a family-friendly town and remain as such, no matter the discourse of businesses coming into town. Additionally, Medford is part of the Pinelands and there are restrictions with commercial growth.
“Right now it’s just a matter of waiting and seeing what the responses are,” Pace said.
Residents are reacting positively to the possibility of a new establishment with the ability to serve alcohol.
“What’s great about this country is we have a great variety of choices everyday,” Pace said. “We have a lot of great places to eat and that serve alcohol, but more places to choose from is what the residents are after.”
Pace noted the township is “not after building a discotec,” but there’s nothing wrong with enjoying a beverage with friends “not to excess.”
The bid goes out Oct. 3 and will be returned sealed.
Township will accept bids on liquor licenses Oct. 3
