Potential new cannabis retailer

Post date: Jan 09, 2020 7:44:46 PM

I had advised in December that Andrew and I had been engaged in discussions with a firm considering a cannabis retail location to be located at 1017 Simonds Road. They held their community meeting in December and it seemed to go smoothly. The process for any proposed retailer is to secure a Host Community Agreement which lets them start through the CCC licensing process. As we have seen in the past 2 applications, there is a significant time lag between the HCA and actual movement of application, let alone opening. (Recall that the HCA agreement with Elev8 was signed in March, 2018 and they are just now moving into active CCC review -- they secured ZBA approval last month.) Sparkboro is hoping to be in a position to go to ZBA next month.

Our HCA is the same, intentionally for all retail establishments - 3% of eligible revenues, initial payment of $15,000 prior to start of sales and at least $5000 donation to non-profit serving Williamstown for drug prevention education. After we agreed on this initial language for Silver, I sign as the contract authority for the Town. To that end, I'm intending to sign HCA with Sparkboro to allow them to get started in the process. It is my intention to have them come back for introduction to the Board if and when they are conditionally approved by the CCC and actually are in a position to speak about operations staffing and start -- this would align with the payment of that initial $15,000.

I've attached a profile of the company and it's key staff. We have been pleased with the professionalism, knowledge and approach of this firm. It is also interesting to note that they intend to have a cultivation operation in Egremont and at this point hope to be selling that in county produced product in Williamstown.

In addition, I've attached the HCA.