Eatontown accepting applications for cannabis retail businesses

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EATONTOWN – Officials in Eatontown are accepting applications for cannabis retail businesses that may eventually be licensed to operate in the municipality.

The announcement regarding cannabis retail applications was made in a public notice dated Feb. 8 and placed on the municipal website. According to the notice, the New Jersey Cannabis Regulatory Commission will accept applications for cannabis retail businesses as of March 15.

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Any cannabis retail applicants who are seeking a resolution of support from the Eatontown Borough Council before March 15 are required to file an application with the borough clerk’s office by Feb. 28.

The applications that are submitted will be considered by the members of the governing body on March 9, according to the notice.

Business applications that are not filed by Feb. 28 will be considered by the council members on a rolling basis, according to the notice.

In 2021, state legislators approved the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act after New Jersey voters in 2020 approved a constitutional amendment to legalize marijuana.

The state legislation legalized the recreational use (also known as adult use) of marijuana for certain adults; it decriminalized the possession of small amounts of marijuana and hashish (a marijuana concentrate); and it removed marijuana as a Schedule I (high potential for abuse) drug.

The law established six marketplace classes of licensed marijuana businesses in New Jersey: cultivator, manufacturer, wholesaler, distributor, retailer and delivery.

Following the state’s action, Eatontown officials adopted an ordinance to establish the locations where cannabis businesses will be permitted to operate and the standards by which a business operator may receive a license; only cannabis delivery businesses are not permitted to operate in the municipality.

Under these regulations, up to three cannabis retail licenses may be issued in Eatontown. Cannabis retail businesses will be permitted to operate on Route 36; and on Route 35, south of the intersection with Route 36.

The application fee will be $10,000 and each cannabis retail business that is approved to operate in the borough will be required to pay $2,500 annually to maintain the license, under the ordinance, which will also subject a cannabis retail business to a 2% local cannabis tax.

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