TITLE
Recommendation to declare ordinance amending Long Beach Municipal Code by amending Sections 5.90.030 and 5.90.060, by adding Section 5.90.310; and, by amending and restating chapter 5.92, all relating to the regulation of cannabis retail storefront (dispensary) business licenses and the Cannabis Social Equity Program, read and adopted as read. (Citywide)
DISCUSSION
On May 10, 2022, the City Council received a presentation from staff on the Equity Dispensary Ordinance and Resolution, which will allow eight (8) additional cannabis dispensaries in Long Beach to be owned exclusive by verified equity applicants as part of the Cannabis Social Equity Program (Equity Program).
Following the staff presentation, public comment, and City Council discussion, the City Council passed a motion to:
· Amend the proposed Equity Business ownership requirements to prohibit Equity Businesses from transferring more than 51 percent ownership interest to a non-equity individual for ten years from the date the Equity
Business submits a cannabis business license application to the City; and
· Amend the Equity Dispensary RFP Guidelines to only allow equity applicants who were verified on or before May 10, 2022, to submit a proposal. Equity applicants who received their verification after May 10, 2022, are not
eligible to participate in the RFP process; and
· Amend the Equity Dispensary RFP Guidelines to add a provision to give priority to equity applicants who were selected in a previous lottery on September 10, 2010 and/or September 28, 2017. In order to be eligible to
receive additional points in the RFP process, an equity applicant must have received their verification letter on or before May 10, 2022 and be listed on the original business license application(s) as an owner/managing member.
The attached Equity Dispensary Ordinance and Resolution includes these amendments to the Equity Business Ownership Requirements and Equity Dispensary RFP Guidelines.
This matter was ...
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