#californiacannabis – “For three years Eldo Lake Investment, LLC has been working through the process of opening the business in a building located on 1.18 acres on the west side of US 50 across from the old Sunset Stables. The company has planned 1,600 square feet of commercial space in the building. The County is allowing seven retail cannabis businesses in the unincorporated part of the whole county, from El Dorado Hills to Tahoma. When those seven applications were accepted, it was realized the Meyers Area Plan (MAP) boundaries had no zoning to match the county zoning areas where cannabis businesses would be allowed. The code was rewritten and allowed one cannabis business within the MAP boundaries.

Staff is recommending the Planning Commission take the following actions: Find the project exempt under Section 15301 of the CEQA Guidelines, and approve Commercial Cannabis Use Permit CCUP19-0008, based on the findings and subject to the ‘Conditions of Approval’ as presented. The business is in the Industrial Light zone district where such a business is allowed…..

The other agenda item is for a Commercial Cannabis Use Permit for Embarc Meyers. They too have been going through the process since being selected for the sole application within the Meyers Area Plan, with plans to sell cannabis goods for medicinal and adult-use recreational in an existing building, the former gym in Meyers.

Staff is also recommending the Planning Commission take the following actions for Embarc Meyers: Find the project Exempt under Section 15301 of the CEQA Guidelines, and approve Commercial Cannabis Use Permit CCUP21-0001, based on the Findings and subject to the Conditions of Approval as presented.”


Courtesy of MJBiz Daily

#cannabisindustry – “Caught in the perfect storm of collapsing margins, oppressive taxes and vanishing access to debt and equity capital, they are buying time by not making estimated tax payments in hopes of a brighter future.

Some observers try to put a positive spin on nonpayment as “cheap financing,” claiming that the interest charged on federal unpaid taxes is lower than interest that would be charged on other kinds of debt.

This is folly, of course: Interest rates on underpayments when added to penalties that might apply result in costly financing, especially for large corporations that could be subject to higher underpayment interest rates (and underpayment interest isn’t deductible).”