New York officials roll out the green carpet for convicted weed sellers who are now legal.
The New York State Board of Housing is preparing to spend about $200 million in public funds to rent out sites where ex-Muslims can set up shop and sell weed — removing a major hurdle for budding entrepreneurs.
The agency has begun this process by soliciting bids from real estate experts to help determine the best places to shop for cannabis. They will then finance start-up costs and prepare sites for business through loans to cannabis retailers.
State policy requires that New Yorkers previously convicted of marijuana offenses be punished first batch of Legal licenses to sell cannabis.
“When they get a license, they can go straight,” said DASNY CEO Robin McDaniel III, who also serves as a member of the state’s cannabis control board.
He said the program would provide an opportunity for former dissidents “affected by the war on drugs” to become successful entrepreneurs.
The boarding house authority also announced on Wednesday that it has hired two minority investment firms – the Basketball Hall of Fame Chris Weber and her partner Lavetta Willis and Seibert Williams Shank, which was founded by Susan Shank and whose principal managing director is a former City Comptroller Bill Thomson To help raise funds and manage a $200 million Social Equity Investment Fund.
“New York today takes an important step forward in creating jobs and opportunities for those who, historically, have been disproportionately targeted for cannabis infractions,” Governor Cathy Hochhol said.
“As we create a new industry in New York, I am proud to see real progress in meeting the economic needs of future entrepreneurs.”
Weber described the emerging cannabis industry as a “tremendous opportunity” to “right the wrongs of individuals who have fallen unfairly on outdated cannabis policies”.
Susan Shank said: “As the regulated adult cannabis business grows, the right approach must include removing barriers to equitable participation in this multibillion dollar industry.
“The Cannabis Social Equity Investment Fund will be a key tool to help level the playing field during New York State licensing and locate retail cannabis dispensaries across the state. This regulatory design will help disadvantaged entrepreneurs compete fairly.”
On Wednesday, Hochul also announced the appointment of a 20-member Cannabis Advisory Board, which will work with the Office of Cannabis Management to assist the new cannabis industry.
former ruler. Andrew Cuomo The state legislature approved a law legalizing the recreational use of marijuana in March 2021.
Hoshol hired team to enforce the law after replacing the disgraced Cuomo, who resigned after being accused of abusing female employees.
The Cannabis Control Council is expected to approve licenses for cannabis retailers by fall, with the first pot stores to open by the end of the year. You have already granted the licenses for farmers Marijuana cultivation for sale.
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