NEW YORK (NEWS 10) – The Seeding Opportunity Initiative allows for equity-entrepreneurs to be the first to make adult-use cannabis sales in New York. The initiative will also include products grown by New York farmers.
If approved at the July 14, Cannabis Control Board (CCB) meeting, the first Conditional Adult-Use Retail Dispensaries (CAURD) will be operated by those who have been impacted by the pot prohibition and despite that impact have been able to maintain “strong business backgrounds”, said OCM
These final regulations will require that first, the applicant must have a cannabis-related conviction that occurred prior to the passage of the Marijuana Regulation and Tax Act (MRTA). Or, had a parent, guardian, child, spouse, or dependent with a pre-MRTA cannabis-related conviction in the State of New York.
Secondly, they must also have experience owning and operating a successful business in the State of New York.
“These proposals before us are central to the Seeding Opportunity Initiative and its goal of opening New York’s adult-use cannabis market by leading with New York’s farmers and entrepreneurs,” said Tremaine Wright, Chair CCB
The application for CAURD will require the applicant to submit materials proving a qualifying cannabis-related offense. The applicant can include supporting details and documentation for their qualifying business or nonprofit, financial disclosures for the True Parties of Interest in the applicant.