fbpx
QQQ
-0.62
314.97
-0.2%
DIA
-0.99
311.10
-0.32%
SPY
-1.59
380.17
-0.42%
TLT
+ 0.76
150.46
+ 0.5%
GLD
-1.79
175.02
-1.03%

Detroit OKs Adult-Use Marijuana Licenses With Benefits For 'Legacy Detroiters'

November 24, 2020 6:48 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Detroit OKs Adult-Use Marijuana Licenses With Benefits For 'Legacy Detroiters'

Detroit has approved an ordinance that green-lights the licensing process for adult-use marijuana businesses.

According to Click On Detroit, the Detroit City Council voted unanimously to begin granting licenses to adult-use retailer establishments, growers, processors, safety compliance facilities, temporary marihuana events, microbusinesses, consumption lounges and transporters.

The ordinance comes almost two years after adult-use cannabis became legalized in the state

Recreational marijuana sales were delayed in the city in an attempt from the City Council to ensure that marijuana legalization would benefit the people most hurt by prohibition.

Special Benefits For “Legacy Detroiters”

The ordinance includes measures to benefit “Legacy Detroiters” and people with prior marijuana convictions.

Via a social equity program included in the ordinance, 50% of all licenses will be granted to Detroit Legacy applicants. To qualify as a Legacy Detroiters, applicants must be able to prove that they have lived in the city for 15 of the last 30 years or 13 of the last 30 years if they are low income. Those who have lived in Detroit for 10 of the last 30 years and have a prior marijuana conviction also qualify.

“We have taken major steps to address the inequities found in the city’s current medical marijuana industry and included provisions that provide genuine opportunity for Detroiters to create generational wealth,” said Detroit City Council member James Tate.

Earlier this year Tate stated that many medical marijuana shops were owned by people from outside the city.

Legacy Detroiters will benefit from reductions in local licensing fees, a six-week exclusive early licensing period and the ability to purchase certain city-owned property — to be used for adult-use facilities — at 25% of fair market value.

Fiscal revenue from the inclusion of recreational marijuana is expected to add between $7 million and $8 million annually to Detroit’s city Budget.

Image by Peter Mol from Pixabay 


Related Articles

Michigan Cannabis Sales Near $1B In First Year Of Adult-Use Sales

Cannabis sales in Michigan spiked during December, bringing the total to $984.6 million for 2020. read more

These 3 US States Could Legalize Weed In 2021

This article by Louis O'Neill was originally published on The Green Fund, and appears here with permission. read more

Dispensary Update: Trulieve, Jushi And Cloud Cannabis Each Have New Stores

Trulieve Opens Second Store In Gainesville Cannabis company Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) has cut the ribbon on its second Gainesville, Florida-based dispensary. read more

Which Countries Will Legalize Cannabis In 2021?

This article by Louis O'Neill was originally published on The Green Fund, and appears here with permission. read more

Cannabis Movers & Shakers: Next Green, Cannabis Control Commission, Willow, TruTrace, HEXO, Bengal Capital, MediPharm Labs, NIHC

Here is a summary of the latest leadership changes within the cannabis industry. read more