8 is enough if you ask Leo Pelletier and some on the city council. But, the real truth is that it is not. What is missed is the fact that many of the letters given out to people looking to open a marijuana business will never get to the point of opening.
Just to get into this business it takes at least 3 million dollars. You can not get a loan or use a bank because under the federal law it is still illegal, Although it is legal by state law, federal law governs banking. That means that this money must come from people that are investors that have cash available,
If you have several million dollars hanging around, you are sure to be a person that looks deep into your investments before putting out the money. That in itself limits some of the people from getting all the money. Getting the letter just starts the process so they can seek investment brokers and begin to look for sites and permits.
Once you get the letter there are many ways your project can fail. The sites may not meet regulations, the permitting may get bog down for any reason, and there is the state that must approve everyone involved in the project. Backgrounds, financing are just a couple of problems. Every step must go to the state for approval before you take the next step. All it takes is one step to go wrong and it’s over.
If you believe that we need to put a cap on this than why don’t we cap how many stores sell cigarettes? That we know kills millions of people. This is just being done in my opinion because one dispensary that is open for recreational sales is trying to stop competition. He knows how hard it is to get through the process and knows that most won’t make it. He hopes that if that cap is allowed it will limit the city to maybe two dispensary opening and he will have the advantage because he is open already and has a steady flow of customers that he will keep 90% of when and if another one opens.
In my opinion, this is a move to block others from entering the marks so one can make all the BIG PROFITS. He is feeding information to the counselor which the counselor stated himself in the meeting. That in itself should tell you this is a move to monopolized the business market.
In 6 months the city has received $300,000 dollars as their 3%. They will get another $300,000 from the states % that they pay the city. Why would we want to limit that money coming into the city that can pay for police, fire and many other things we need??? Don’t be fooled by the people that do not know how this business works and are going to hurt our city if this CAP is approved. Tell your city councilor to VOTE NO on this proposal to CAP the licensing at 8.