It was shortly after St. Patrick's Day two years ago that drinking and dining destination Yo & Papa went dark. The South Street Mexican-themed restaurant had maintained a following for several years (and before that, as Calaloo Cafe), with many appreciating its outdoor seating in the warmer months.
Now, after a couple years of languishing, the property's liquor license is up for auction at the municipal building on Oct. 11.
The opening minimum bid for the property will be $100,000.
And while that may seem low for liquor licenses in the hotly contested Morristown area, there are a few caveats.
- Successful bidders must make a minimum of 25 percent of their respective bid immediately.
- Payment must be guaranteed funds such as cash certified check, bank check or money order.
- Balance, also in guaranteed funds, due by noon on Oct. 14, at the NJ Division of Taxation, Somerville Regional Office, 75 Veterans Memorial Drive East, Somerville, NJ 08876 or deposit monies will be forfeited. Checks must be payable to: NJ Division of Taxation.
- NJ Division of Taxation employees or any member of the employee’s immediate family may not participate in this public sale.
- This liquor license is sold subject to any restriction imposed by the NJ Division of Alcoholic Beverage Control on this license as those set forth in N.J.A.C. 13:2-24 as well as any violations imposed by the municipality.
- The successful bidder for the liquor license must submit a complete “good faith” transfer application to the municipality and pay the fee for the transfer of the license by Wednesday Oct. 23. Failure to do so will result in forfeiture of all monies paid to the NJ Division of Taxation for the license.
- The successful bidder for the liquor license must submit a renewal applicationto the municipality and pay the fee by July 1, 2014. Unless the municipality approves the transfer of the liquor license prior to July 1 failure to timely submit a renewal application will result in forfeiture of all monies paid to the NJ Division of Taxation for the license.
- The NJ Division of Taxation will assist with the renewal process at the request of the municipality.Any monies paid by the NJ Division of Taxation for the renewal of the liquor license will be reimbursed directly to the NJ Division of Taxation by the successful bidder.
- If the successful bidder makes proper application for the transfer and renewal of the license, passes the background check conducted by the municipality, follows all guidelines set by the municipality and the municipality denies the application, then the monies paid to the NJ Division of Taxation will be refunded. The NJ Division of Taxation then has the right to go to the next highest bidder or re-auction the license.
*Editor's note: A previous version of this story incorrectly stated that the property itself was part of the auction. The current auction is solely for the plenary consumption license.