Cont. Buying A Llc

[davhas]

First thanks for all the advice. The saga continues. As you know from my first post buying a LLC it was decided to buy only the assests of the LLC. The assests included all equipment; kitchen, tables chairs, decore, DJ, and Bar equipment. He has a clintele usually max capacity of aprx. 160 only two days a week Thurs and Fridays, these are the only days he is open also. He currently operates as resturant lounge and found this to be strange only operating two days a week and only open until 1am. After going to city found out member applied for an after hours permit (Able to operate after 11pm) and was denied due to city trying to control the # of business serving alcohol after 11pm. Member never disclosed this information, informed us he never applied to city but got the ok from landlord. City also stated that if we applied for new Liq Lic the church that is apprx 500 yards behing the lounge would protest. I did speak with the abc agent for the site he stated would not be a problem getting liq lic. I think this is one I should let go. I did get the price below our lowest bid but think there may be too many hurdles to jump. Any advice?

Thanks

DavHas

[Largo Robert]

First thanks for all the advice. The saga continues. As you know from my first post buying a LLC it was decided to buy only the assests of the LLC. The assests included all equipment; kitchen, tables chairs, decore, DJ, and Bar equipment. He has a clintele usually max capacity of aprx. 160 only two days a week Thurs and Fridays, these are the only days he is open also. He currently operates as resturant lounge and found this to be strange only operating two days a week and only open until 1am. After going to city found out member applied for an after hours permit (Able to operate after 11pm) and was denied due to city trying to control the # of business serving alcohol after 11pm. Member never disclosed this information, informed us he never applied to city but got the ok from landlord. City also stated that if we applied for new Liq Lic the church that is apprx 500 yards behing the lounge would protest. I did speak with the abc agent for the site he stated would not be a problem getting liq lic. I think this is one I should let go. I did get the price below our lowest bid but think there may be too many hurdles to jump. Any advice?

Thanks

DavHasA wise man knows when to walk away from a deal.

I have always had a policy that I put up front when the negotiations get serious: ONE intentional false or no/incomplete disclosure, and I walk. Period.

[ontheway]

Siince i own two places and involved with 4 others in the area, I can tell you first hand that the cities now control the first say in if you can get the license. I just opened my second in Chesapeake in March and the city has to approve from the planning department to neighborhood services all the way through city council. Then if there are no problems or objections from anyone in the city you can move to the ABC board. With all of the new authority given to the city the ABC board has become the easiest part. With a church that close it could be pretty tough. I would suggest approaching the church and asking how they will feel. I got the civic leagues near me to write letters of approval to submit with my applications to the city. Could be worth a shot.