Except as provided in subsection (b) of this section, the Board may not issue a license for an establishment unless the establishment is located at least 500 feet away from: an elementary or secondary school; a public library; or a youth center sponsored or conducted by a governmental unit. The distance is to be measured from the nearest point of the building of the establishment to the nearest point of the property line of the elementary or secondary school, public library, or youth center. The prohibition against issuing a license in subsection (a) of this section does not apply to: the renewal or transfer of a license issued before May 1, 1976; or the issuance of a Class B (on–sale) hotel and restaurant license of any type.