BASKING RIDGE, NJ — The second time was the charm. Bernards Township has sold its unclaimed liquor license after receiving no bids the first time around.
The Township Committee voted unanimously to accept the bid to purchase the liquor license from SM Investments at Basking Ridge LLC for $400,000 at the May 9 meeting.
“This is a significant amount of revenue for the town. $400,000 all in and by bringing in this revenue this really goes a long way to fulfilling our commitment to the taxpayers and to maintaining a tight hold on our taxes in years to come. This is great that we are awarding this new liquor license,” said Mayor Andrew McNally.
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There were initially two bids for the license opened on May 4 from SM Investments and Hillandale Hospitality Group LLC in Madison both for $400,000.
Township Administrator /Chief Operating Officer Pat Monaco then contacted both bidders asking for clarification and specifics for the intended use of the plenary retail consumption liquor license.
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On May 5, Hillandale withdrew its bid for the license stating they couldn’t find any available property suitable for a wedding venue that is in excess of four acres.
This withdrawal made SM Investments the lone remaining bidder. It is unclear what SM Investments plans to do with the liquor license.
Monaco told Patch SM Investments “has 2 years to choose a location. They have currently not provided any to the Township.”
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