In this emerging cannabis market, cities and counties have been slow in implementing local laws and regulations for the legal commercial cannabis industry. We have often expressed our belief that continuing bans, moratoriums and prohibition in the cannabis industry this is a mistake, calling out the fiscal, socioeconomic and moral issues we take with prohibition.
Los Angeles is moving at a snail’s pace, if that. The City was supposed to commence accepting applications for Phase 2 supply side priority applicants (non-retailers operating prior to January 1, 2016) and that application window was set to close April 1, 2018. Well none of that ever happened, leaving Angelinos and investors largely in the dark about what is in store for the cannabis industry in Los Angeles, and more importantly, when will those without priority be able to enter the legal commercial cannabis market in LA. For now, it is a waiting game.
We spoke to the Department of Cannabis Regulation (DCR) this morning and we have some bad news: Phase 2 will not open until July 1, 2018 at the earliest for priority non-retail applicants. Phase 2 will last 30 days. If we are lucky, applications will be accepted from the general public, including social equity applicants, August 1, 2018, but there is no commitment to either of these dates. Given that the pre-ICO’s have not all been processed to date, we have little hope that LA will accept applications from non-priority applicants before this Fall.
We have received a number of calls from social equity qualified applicants looking to learn more about the Social Equity Program. For those interested, we have started to take down contact information from these people, with their permission of course, so that we are able to introduce them to investors and operators when the time comes.
We also have one client in Northridge looking to get rid of their location (for a fee) if you are interested, let us know and we are happy to make the introduction.