Saturday, September 24

Long Island Set to Get Special NYS Cannabis Dispensary Licenses

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Long Island will get 20 of the 150 approved licenses to sell marijuana by the New York State Office of Cannabis Management (OCM). With an estimated 13.4% of the population in New York State, Long Island will get the second most of any region behind Manhattan, according to a chart found on marijuanamoment.net. Manhattan, with 14.6% of the state’s population will be awarded 22 licenses.

Called conditional adult use retail dispensary (CAURD) licenses, they essentially provide applicants who were previously convicted of a marijuana-related offense or who were the parent, legal guardian, child, spouse, or dependent of someone convicted in New York State before March 31, 2021 a special permit to sell cannabis. The retail outlet only needs to be 30% owned by this individual. That person must also have qualifying business experience, defined by the state as having at least 10% ownership, for at least two years, in a business that had positive net profits during the individual’s ownership.

Full criteria can be found here.

Holders of CAURD licenses will be able to access a $200 million Social Equity Cannabis Fund and also be eligible for “turnkey storefronts currently being secured and built out by Dormitory Authority of the State of New York (DASNY),” according to the story.

CAURD Licenses will be the first adult-use retail dispensary licenses issued in New York State. Applicants will be ranked by scores and top scoring applicants in each region will be allocated licenses up to the maximum available. Applications are available at www.cannabis.ny.gov.

Photo: Shutterstock.


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