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Canna Source seeks retail cannabis license to operate in Red Bank

RED BANK – Members of the Red Bank Borough Council have passed a resolution which acknowledges that an entity known as Canna Source, LLC, has proposed operating a permitted cannabis business in town and that the proposal would not exceed the municipal limit for the number of permitted cannabis businesses.

Canna Source is seeking a retail cannabis license to open a business in Red Bank, according to the council’s resolution.

Canna Source joins ACTF, Quiet Bloom, Higher Breed, Monteverde, Scarlet Reserve Room, Next Chapter Market, RBFC, Canopy Crossroad and PLUG Naturals as potential cannabis business operators in Red Bank.

Each of those entities is seeking a retail cannabis license, with the exception of ACTF, which is seeking a cannabis cultivator’s license.

The resolution that was passed by Red Bank’s elected officials was requested by representatives of Canna Source as part of Canna Source’s application that will be submitted to the New Jersey Cannabis Regulatory Commission.

As stated in the resolution, the operator of a potential cannabis business must submit a resolution from the municipality in which the business may be located to the New Jersey Cannabis Regulatory Commission.

The local resolution certifies the municipality has authorized the type of cannabis business license that is being sought in its jurisdiction and confirms that the issuance of the license would not exceed municipal limits for cannabis businesses, if there is a limit.

Red Bank’s resolution provides Canna Source with the necessary information to submit an application to the New Jersey Cannabis Regulatory Commission.

Cannabis retailers are permitted to operate in Red Bank’s Business/Residential-1 zone and in the waterfront development district as a conditional use.

A cannabis retailer may only be located in buildings with other uses if the cannabis business is separated by full walls and has a separate entrance. No more than one cannabis business will be located on a single parcel, according to the ordinance.

According to the ordinance, cannabis retailers must provide a detailed security plan and receive approval of the security plan from the Red Bank Police Department.

Red Bank will impose a transfer and user tax to receive 2% of the receipts from each sale by cannabis cultivators and retailers. The user tax will be imposed on any license holder operating more than one cannabis business.

In March, the governing body amended its ordinance to require municipal licenses from cannabis businesses seeking to operate in Red Bank.

The Borough Council established regulations for cannabis businesses following the enactment of the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, also known as A-21.

The law legalizes the recreational use (also known as adult use) of marijuana for certain adults, subject to state regulation; it decriminalizes the possession of small amounts of marijuana and hashish (a marijuana concentrate); and it removes marijuana as a Schedule I (high potential for abuse) drug.

A-21 established six marketplace classes of licensed marijuana businesses: cultivator, manufacturer, wholesaler, distributor, retailer and delivery. All six business types will be permitted in Red Bank.

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