Most universities have banquet facilities on campus that would have a license. What about church halls? People are getting married there - where are they having the receptions?
Also, it is not necessary to have a formal with alcohol - if anything, if you have a dry formal (and yes, it's been done many times), then you don't need to worry about Sober sisters and the like. Just FYI - the Alcohol POlicy was primarily written by collegiate women like yourself (yes, really!). Not allowing the rental of hotel rooms makes sure that folks are at YOUR event, not the one upsatirs
Finally, do speak with your CNS about viable options around your town, and then the next closest location. She will be able to speak to the Network Director and the Executive Board liaiosn to see what options may work for both your chapter, but yet comply with the policies!
Good luck!!
Shala