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37 B UDGET I MPLICATIONS <br />38 There is no proposed change to the current fees for on-sale liquor licenses. <br />39 E QUITY C ONSIDERATIONS <br />40 Although small businesses and business creation are key drivers of the American economy, BIPOC <br />41 (Black, Indigenous, and people of color) entrepreneurs have consistently experienced barriers in <br />42 access to capital. Many of these barriers are the result of unconscious biases- systemic inequities that <br />1 <br />43 have created a vast racial wealth divide over time, and associated challenges.Selling alcohol <br />44 generates revenue because the markup is high and it's easy to upsell customers. The average revenue <br />45 that comes with selling alcohol is 20 to 25 percent of restaurant income, but it can become much <br />2. <br />46 higher When evaluating the previous threshold requiring 60% of revenue be generated from food <br />47 sales, consideration should be given to whether small businesses are able to reach this in similar <br />48 fashion as some of the larger, corporate restaurants. <br />49 S TAFF R ECOMMENDATION <br />50 Staff requests that the City Council review the draft ordinance and consider its approval. <br />51 R EQUESTED C OUNCIL A CTION <br />52 Motion to approve an ordinance amending City Code Chapter 302, and <br />53 Motion to approve the ordinance summary for publication. <br />54 <br />55 Prepared by: Patrick Trudgeon, City Manager <br />56 Katie Bruno, Deputy City Clerk <br />57 <br />Attachments: Attachment A: Draft Ordinance, red-lined copy <br />Attachment B: Draft Ordinance, clean copy <br />Attachment C: Ordinance Summary <br />1 https://www.mckinsey.com/industries/public-and-social-sector/our-insights/building-supportive-ecosystems-for-black- <br />owned-us-businesses <br />2 https://smallbusiness.chron.com/revenue-comes-selling-alcohol-34021.html <br /> <br />