Real Estate and Legal Weed
Real Estate and Legal Weed
Growing cannabis needs large plots of land. And in California’s crazy real estate market, this is just another opportunity to charge a premium on already expensive land. Furthermore, the industrial vacancy rate in Los Angeles is 2.2 percent, which is very low.
This opportunity has motivated Sacramento startup, Canna-Hub, to begin developing real estate for specifically for cannabis businesses. Their first projects will be on a 31-acre property in Mendota, CA, and an 80-acre property in Williams, CA.
The benefits of working with a company like Canna-Hub is that they know their clientele, and will design their hubs to have the water and electricity needs taken care of in advance. It will be a plug and play opportunity for cannabis business startups. A win-win for both the cannabis and real estate businesses.
Federal WeedUpdate
The Marijuana Data Collection Act which is sponsored by Representative Tulsi Gabbard of Hawaii. The Act asks the National Academy of Sciences, in conjunction with the Secretary of Health of Human Services, DOJ, and others to complete a report regarding cannabis legalization efforts within 18 months after signing the act. The report is to be updated on a biennial basis over a 10 year period and will study the positive and negative effects of marijuana. It a great effort and a step in the right direction regarding the state of cannabis at the federal level.
These report(s) will provide the much-needed evidence for lawmakers to make the right decision to decriminalize marijuana at the federal level. Contact your representative today!
State By State WeedUpdate
Florida
Florida A&M University (FAMU) is looking for a director to lead its medical marijuana projects. This comes after an agreement signed between FAMU and the Florida Department of Highway Safety and Motor Vehicles. The agreement states that $10 would send to FAMU for each $75 medical marijuana ID issued to residents. These funds will be used to set up the medical marijuana projects program which will focus on collecting and analyzing data, including educating minorities on the benefits of medical marijuana and treatments.
This is an excellent example of how universities can further develop industries for the benefit of the community (and country). It is already done in so many other sectors, such as medicine, robotics, and space exploration. So, this is an excellent step for furthering understanding of the cannabis plant.
Michigan
State voter will be able to vote for the legalization of recreational cannabis for adults 21 and older on November 6th of this year. But, there is an effort to change the outcome of the vote.
A group called Healthy and Productive Michigan is opposing this push to legalization and has recruited former Michigan Senate Majority leader Randy Richardville. Richardville states,
I don’t necessarily disagree with recreational marijuana. I think people that put this ballot proposal together in such a shoddy way that does nothing but invite young people and others that aren’t prepared to deal with recreational marijuana responsibly.
If you want recreational cannabis to be approved in Michigan, contact your representative, and make sure to vote on November 6th!
New Jersey
The president of the New Jersey State Senate, Steve Sweeney, tells local radio station, WBGO that he hopes to make recreational cannabis legal this summer. There are already efforts to expand the medical marijuana program within the Senate. So, Sweeney has tied the expansion efforts to the recreational use efforts; meaning that one cannot move forward without the other. It’s getting closer New Jersey!
Further proving that legalization is just around the corner, New Jersey’s Attorney General Gurbir Grewal stated that they would adjourn all cases related to cannabis until September. That is de facto decriminalization, and is precisely in line with the narrative above that recreational cannabis will be legalized over the summer.
Pennsylvania
Last week, we reported on Pittsburgh Mayor Peduto asking state lawmakers to legalize cannabis. It seems Pennsylvania Representative Jake Wheatley heard Peduto loud and clear. Wheatley will introduce a bill that will legalize the sale of marijuana for recreational use. The bill also includes measures to expunge prior records and convictions. As many states begin to enact such measures and reap the social and financial benefits, it just makes sense for others to also want to.
Texas
Since the beginning of this site, we have never had a WeedUpdate from Texas. However, it looks like things are changing. According to a University of Texas/Texas Tribune poll taken last June, most Texans want to see marijuana legalized. According to the Texas Tribune, we could see some measures of cannabis legalization pass in 2019. It’s a slow process, but as the rest of the nation (including the feds) get comfortable with the subject of legalization, Texas lawmakers will make their move. Stay tuned.
Vermont
Vermont legalized recreational cannabis. However, the State Attorney General just announced that is illegal to gift marijuana, despite its legal status. Many companies are throwing in free vape cartridges or edibles in exchange for overpriced apparel. So, AG T.J. Donovan interpreted state law stating:
“Any transfer of marijuana for money, barter, or other legal consideration remains illegal under Vermont law,” Donovan wrote in the advisory. He added: “Individuals may gift under the parameters outlined in the law.”
But this is just an advisory. Donavan later mentioned that dispensaries should hold off on gifting until there is a bill passed that will detail the taxing and regulation of cannabis.
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