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Colorado - Applicants may need $400,000 in cash to be eligible for one of 20 potential retail marijuana licenses when the city lifts its ban on marijuana businesses in May. Aurora's Amendment 64 Ad Hoc committee agreed Monday to move this and other eligibility requirements forward that would be in addition to the state's requirements for retail marijuana stores. Those include applicants having no felony convictions for 10 years, no drug-related felony convictions, and no drug-related misdemeanors for 5 years. They also include an applicant having at least 2 years of experience in the medical marijuana industry.
The committee agreed to loosen restrictions for cultivation, manufacturing and testing facilities. Those applicants would only be required to pass the criminal background check to qualify for a license. "Why are they inconsistent? If it's important for one thing, why isn't it important for the other?" asked Councilwoman Molly Markert. Assistant City Attorney Dave Lathers said manufacturing, cultivation and testing were already highly regulated by the state.
"The state is going to take particular interest in those with the tracking of the product," he said. "Because it's not going to be retail, we're not going to have the public rubbing up against it. It seems like it needs less of our input as a city." The committee also agreed on a 300-foot buffer for grow operations that could locate in industrial zones near residences, such as the area near Concord Career College on Havana Street. "There is concern that the grows have large odors associated with them and they're more industrial in nature," said city planning supervisor Mindy Parnes after the meeting.
"We do this often with automobile-related businesses like salvage yards. Those cannot be located within 300 feet of residential zones. It's a standard thing we do for inner-city industrial areas. " The committee remains set on limiting the number of pot shops in the city to 20 stores, and is looking to implement a request for proposal process for retail shops where bonus points would be awarded to applicants with additional capital or industry experience.
Glenn Speegle, who attended the meeting and says he's worked in the marijuana industry in Wheat Ridge, disagreed with the committee's decision to have a financial requirement for retail licenses. "They're trying to make it so the biggest, most established people are going to come in," he said. "Do you want the Budweisers, the Millers, the Coors, or do you want the microbreweries that are popping up all over town?"
Batchelor said after the meeting that the number came out of staff conversations with major players in Colorado's retail marijuana industry. "What you hear are start up costs are in that $400,000 range," he said. He said that Denver has ensured its retail licensees' success by allowing only medical marijuana dispensaries to convert to retail for the next two years. He added that the state also requires applicants to disclose the source of their funds. "In the financial world, one of the warning signs is looking at if someone is in financial duress. The idea is to have some type of capital threshold to make sure someone has sufficient operating funds," he said.
News Moderator - The General @ 420 MAGAZINE ®
Source: Aurorasentinel.com
Author: Rachel Sapin
Contact: Contact Us - Aurora Sentinel
Website: City pot panel suggests $400K requirement for retail license - Aurora Sentinel
The committee agreed to loosen restrictions for cultivation, manufacturing and testing facilities. Those applicants would only be required to pass the criminal background check to qualify for a license. "Why are they inconsistent? If it's important for one thing, why isn't it important for the other?" asked Councilwoman Molly Markert. Assistant City Attorney Dave Lathers said manufacturing, cultivation and testing were already highly regulated by the state.
"The state is going to take particular interest in those with the tracking of the product," he said. "Because it's not going to be retail, we're not going to have the public rubbing up against it. It seems like it needs less of our input as a city." The committee also agreed on a 300-foot buffer for grow operations that could locate in industrial zones near residences, such as the area near Concord Career College on Havana Street. "There is concern that the grows have large odors associated with them and they're more industrial in nature," said city planning supervisor Mindy Parnes after the meeting.
"We do this often with automobile-related businesses like salvage yards. Those cannot be located within 300 feet of residential zones. It's a standard thing we do for inner-city industrial areas. " The committee remains set on limiting the number of pot shops in the city to 20 stores, and is looking to implement a request for proposal process for retail shops where bonus points would be awarded to applicants with additional capital or industry experience.
Glenn Speegle, who attended the meeting and says he's worked in the marijuana industry in Wheat Ridge, disagreed with the committee's decision to have a financial requirement for retail licenses. "They're trying to make it so the biggest, most established people are going to come in," he said. "Do you want the Budweisers, the Millers, the Coors, or do you want the microbreweries that are popping up all over town?"
Batchelor said after the meeting that the number came out of staff conversations with major players in Colorado's retail marijuana industry. "What you hear are start up costs are in that $400,000 range," he said. He said that Denver has ensured its retail licensees' success by allowing only medical marijuana dispensaries to convert to retail for the next two years. He added that the state also requires applicants to disclose the source of their funds. "In the financial world, one of the warning signs is looking at if someone is in financial duress. The idea is to have some type of capital threshold to make sure someone has sufficient operating funds," he said.
News Moderator - The General @ 420 MAGAZINE ®
Source: Aurorasentinel.com
Author: Rachel Sapin
Contact: Contact Us - Aurora Sentinel
Website: City pot panel suggests $400K requirement for retail license - Aurora Sentinel
