Committee approves forwarding cannabis equity grant acceptance for local equity program

The Budget & Finance Committee unanimously forwarded a resolution on July 13 authorizing the Office of Cannabis to accept and expend roughly $4.4 million in Local Equity Grant funding from the Governor’s Office of Business and Economic Development.

Deputy Director Jeremy Schwartz said the grant is intended to advance economic justice by funding startup and ongoing costs for verified equity cannabis applicants, and that technical assistance (legal, business development, compliance) will supplement the grant. The term cited in the resolution runs from March 15 through Oct. 31, 2022, and the department said it would execute required agreements and amendments with the state office and manage any subsequent contract changes.

The committee had no substantive questions after the presentation and a brief BLA note that it did not have a separate report on this item. Supervisors voted to forward the resolution to the full Board with a positive recommendation.