TITLE
Adopt resolution authorizing City Manager, or designee, to execute all necessary documents to receive and expend grant funding in the amount of $913,991 from the California Bureau of Cannabis Control (BCC), for the approximate period of March 1, 2020 through February 28, 2021;
Increase appropriations in the General Grants Fund in the City Manager Department by $913,991, offset by grant revenue from the BCC; and
Increase appropriations in the Business Assistance Fund in the Economic Development Department by $530,000, offset by an operating transfer from the City Manager Department, offset by grant funds. (Citywide)
DISCUSSION
The Office of Cannabis Oversight (OCO) in the City Manager Department was recently awarded $913,991 by the California Bureau of Cannabis Control (BCC) to support the Long Beach cannabis social equity program (Equity Program). The Equity Program was approved by the City Council in August 2018, with the goal of promoting equal opportunity in the cannabis industry. Specifically, the Equity Program seeks to make legal cannabis business ownership and employment opportunities more accessible to low income individuals and communities negatively impacted by the prior criminalization of cannabis.
On October 9, 2019, the BCC announced the recipients of equity grant funds, made available through the California Cannabis Equity Act of 2018 (Equity Act). The Equity Act allocated a total of $10 million in direct assistance to local jurisdictions that adopted a local cannabis equity program. Of this amount, the City of Long Beach (City) was awarded $913,991 in BCC grant funds.
From the awarded funds, the Economic Development Department proposes to use $530,000 to provide technical assistance and business incubation services to equity owned businesses, as outlined in Attachment A to this letter. In addition, the OCO plans to use $383,991 to expand the fee waiver and grant program to eligible equity applicants, to help offset significant cos...
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