The City of Cody will have three new liquor licenses in its pocket thanks to a legislative decision made in this session.
Cody City Administrator Barry Cook says that rather than immediately handing the three new bar and grill licenses to existing local businesses, there is some advantage to holding on to the licenses to encourage economic development.
Currently the City has 20 retail liquor licenses and 3 bar and grill licenses in circulation, and is allowed an unlimited number of restaurant liquor licenses. Applicants for liquor licenses pay the City a fee of $1500, but then those licenses can be bought and sold for any amount, according to Cook. He says he’s seen them be sold for amounts as high as $100,000.
The new bar and grill licenses will be available on July 1st.