Boston Signs Cannabis Ordinance Reserving Half of City Licenses for Equity Applicants

Uncategorized 2019-11-26 clip6114 · Meeting of November 26, 2019

Boston Mayor Walsh signs cannabis equity ordinance reserving half of city's marijuana licenses for disproportionately impacted applicants. Mayor Martin Walsh and City Councilor Kim Janey signed the ordinance Wednesday at a City Hall ceremony attended by councilors, state legislators, and cannabis entrepreneurs. The measure sets a minimum of 52 cannabis licenses for the city, with at least half reserved for equity applicants through a new Boston Cannabis Equity Program offering technical assistance and legal compliance support.

An equity fund seeded with $500,000 from last year's city budget will grow through the first 3 percent of cannabis revenue until it reaches $1 million, then continue at 1 percent of revenue toward a $5 million target, the first such fund in the Commonwealth. A new Boston Cannabis Board, to be constituted by mayoral executive order, will evaluate applications publicly using published criteria. "Half the licenses in Boston will be for equity applicants through the equity program," said Janey, the ordinance's lead sponsor and a two-year driver of the legislation.

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Source: the Uncategorized 2019-11-26 clip6114 meeting of November 26, 2019, reported from the official video recording and transcript.