Amherst Medical marijuana is projected to be $10 million in annual sales
The Amherst Select Board acting as our chief executives will sign a "community host agreement" on Monday night with one of four Registered Marijuana Dispensaries that will generate at least $90,000 in guaranteed payments and possibly twice that in a 3% take of the action, estimated to be $10 million annually.
The contract calls for $75,000 in year one plus 3% of gross sales, and a guaranteed payment of $15,000 annually to a social service agency that focuses on Amherst. The next two years of the contract ,where annual sales will have ramped up, calls for just the 3% cut of sales.
Of the four entities wishing to acquire the Golden Ticket to sell medicinal pot in Amherst only two have thus far gained a required Special Permit from the Zoning Board of Appeals: Mass Alternative Care at 55 University Drive and GTI Massachusetts NP Corporation at 169 Meadow Street.
Rafters has been a local landmark for 25 years proposed site for Happy Valley Ventures
Interestingly Happy Valley Ventures has not yet acquired that vital document. And by most measures they are only business generating controversy since their operation will displace Rafters Sports Bar and Restaurant, a beloved institution for the past 25 years.
Obviously this gold rush is stimulated by not only the medical market for this all natural drug of choice, but the recreational legalization question coming up on the November 8th ballot.
In 2000 Amherst was the first community in the state to approve a non binding referendum question urging police to relax the enforcement of marijuana laws.
And in 2001 the Select Board unanimously approved a letter to state and federal authorities urging legalization as Amherst Town Meeting had done previously in 1976.