New York Agency Will Stop Overseeing Marijuana Dispensary Construction As Lawmakers Grill Governor’s Nominee – Marijuana Moment

“I don’t wish us to continue with a very, very questionable model that’s not in the interests of the CAURD applicants or the state of New York.”

By Rosalind Adams, THE CITY

This story was originally published by THE CITY. Sign up to get the latest New York City news delivered to you each morning.

State senators grilled the acting chief of the state Dormitory Authority about the terms of a high-interest cannabis business loan program recently exposed by THE CITY as part of his confirmation hearing on Tuesday—while the authority says it’s suspending new deals.

Gov. Kathy Hochul (D) appointed Robert Rodriguez, formerly New York’s secretary of state, as acting president of the Dormitory Authority last month. The governor had put the agency, which typically finances public construction projects like schools and hospitals, in charge of creating a $200 million cannabis “social equity” fund that would be used to lease and construct 150 cannabis dispensaries for licensees impacted by drug convictions.

Licensees matched to dispensaries leased and built out by the state were required to use loans from the cannabis fund to cover the costs of the renovations, which they had no control over. Borrowers, attorneys and state sources

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