As is similarly set forth in KRS 243.450, the ABC Administrator shall not approve any application for a city license if:
(A) The applicant, the application, or the premises described therein do not fully comply with the provisions of this chapter and all laws in regard to alcoholic beverages;
(B) The applicant and/or any shareholder, officer, agent, servant, or employee thereof has caused, permitted, or engaged in any act for which the revocation of a state or city license is authorized;
(C) The applicant and/or any shareholder, officer, agent, servant, or employee thereof had a state license or city license which was revoked within two years of the date of the application, or the premises described therein were the premises or any portion thereof described in a state license or city license revoked during such time;
(D) Any statement or representation in the application is false; or
(E) In the exercise of sound discretion, the ABC Administrator determines any cause or reason for refusing to approve an application reasonably related to the purpose and objective of this chapter and the state laws and regulations of the State Alcoholic Beverage Control Board. Among those factors that the ABC Administrator shall consider in the exercise of his discretion are: public sentiment in the area; potential for future growth; type of area involved; type of transportation available; and financial potential of the area.