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Happy weekend, everyone! We’re coming up on the Fourth of July holiday, and NY Cannabis Insider has been churning out stories to keep you fully informed as you make Independence Day plans. Let’s take a look at the stories we covered last week:
Yesterday we covered Gov. Kathy Hochul’s announcement that the $200 million fund meant to provide resources for Conditional Adult-Use Retail Dispensary operators is fully banked after asset management firm Chicago Atlantic invested $150 million.
The state’s 2023 budget included $50 million toward the Cannabis Social Equity Investment Fund, so Chicago Atlantic’s investment covers the entirety of the private money needed to be raised. With the social equity fund fully financed, DASNY plans on completing buildouts and redesigns for storefronts that they will provide to some CAURD licensees as part of a loan program.
Earlier in the week, we wrote about the Office of Cannabis Management’s first enforcement hearing since the agency began a crackdown on illicit weed shops. Judging from the hearing, which was rife with sloppy paperwork and Fourth Amendment concerns, the OCM’s enforcement efforts appear to have gotten off to a rough start.
During the hearing, an attorney for Roll Up Nation – which had been raided – pointed out that the OCM got the business’ name and address wrong on paperwork. The attorney also noted a possible Fourth Amendment violation, after officials allegedly searched the store manager’s personal bag during the inspection without reading a Miranda warning.
The attorney at that hearing, Paula Collins, is a frequent columnist for NY Cannabis Insider, and contributed a piece with her tips for getting through an OCM enforcement hearing. Collins wrote that during the hearings, there are times where it feels like a trial, and other times when it feels more like a conversation with the judge and the respective parties.
We ran a piece on Thursday about a community board meeting in Queens during which attendees and board members displayed striking hostility toward a CAURD-licensed cannabis entrepreneur who wants to open a dispensary in Middle Village. While a couple meeting attendees seemed willing to hear out the business owner, most comments ranged from ill-informed pronouncements to an unhinged, screaming rant.
On Wednesday, we wrote about Medgar Evers College’s plan to offer new bachelor’s and associate’s degrees in cannabis studies starting next spring. The school launched New York City’s first college-level cannabis studies minor in 2021 and is now doubling down on its weed industry offerings to provide an entry point to the legal marijuana sector.
Reporter Mel Hyman contributed a story about the near impossibility of opening a dispensary in Brookhaven, due to the Long Island community’s extreme zoning restrictions. With virtually nothing suitable for retail cannabis dispensaries within Brookhaven’s borders, licensed operators are threatening lawsuits unless the town changes its tune, Hyman wrote.
Nikki Lawley of Nikki and the Plant penned a guest column urging the state not to forget about its medical cannabis program. Unless the OCM approves more medical cannabis dispensaries, a multi-hour drive is still in the future for thousands of patients who rely on medical cannabis, Lawley wrote.
Continuing our “NY’s women in cannabis” series, we ran a profile on Jessica Naissant, CEO of Wake and Bake Cafe.
We also added a new entry to our “People to know in NY cannabis” series: Jesse Tyree, owner of BLKDOG, a branding, marketing and web agency.
Lastly, we posted attorney Jeffrey Hoffman’s latest Ask Me Anything segment, in which he answered questions about the CAURD licensee dispensary limits, brand-only companies and more.
Thanks everyone, have a great weekend, and an amazing Fourth!