The number of storefronts in Sacramento will jump from 30 from 40 following the City Council's Tuesday approval of new retail operations. All will come from the city's Cannabis Opportunity Reinvestment and Equity program.
The development is critical for a city where a third of dispensaries are owned by a cadre of entrepreneurs.
- Getting a permit will likely help the applicants attract investors, says Councilmember Jay Schenirer.
- CORE is an equity program open to residents who earn a low income, live in specific zip codes most impacted by the drug war, or have a cannabis bust. As of late August the program had 159 graduates. Most lacked dispensary permits.
- Malaki Amen, CEO of the California Urban Partnership, expressed disappointment, pointing out that CORE's policy goal was 50% of dispensary licenses, not 25%.
- The ongoing outrageousness that is the Genius Fund post-mortem took a turn on October 8 when a military vet told a judge that defendants in his suit against the company have moved $3M in assets frozen by the U.S. District Court
- The 30,000-square-foot Las Vegas super-dispensary Planet 13 is putting in a non-cannabis retail store, offering weekend getaway sundries. A nightclub and consumption lounge are in planning stages, for when regulations allow.
Green Market Report
- America might not have all of the electoral answers by Nov. 3, but explanations of the vote's impact on our wildfire, hemp, and COVID-19 issues will be part of MJ BizCon's California conference.
- Next time your delivery comes and the tax you've paid is harshing your mellow, be glad your dealer isn't a violent weed-gang leader named Hitler.