RED BANK – Members of the Red Bank Borough Council have passed a resolution which acknowledges an entity known as G Tree’s, LLC, has proposed operating a permitted cannabis business in town.
The council’s resolution acknowledges that the entity’s proposal would not exceed the municipal limit for the number of permitted cannabis businesses.
G Tree’s is seeking a cannabis cultivator license that would allow it to open a business in Red Bank, according to the resolution.
G Tree’s joins ACTF, Flower Shop Dispensaries, Canna Source, 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.
ACTF and G Tree’s are the only two potential cannabis business operators that are seeking to obtain a cultivator’s license. The remaining entities are seeking to obtain a retail cannabis license.
The resolution that was passed by Red Bank’s elected officials was requested by representatives of G Tree’s as part of an application it will submit 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 the issuance of the license would not exceed municipal limits for cannabis businesses, if there is a limit.
Red Bank’s resolution provides G Tree’s with the necessary information to submit an application to the New Jersey Cannabis Regulatory Commission.
Cannabis cultivators are permitted to operate in Red Bank’s industrial and light industrial zones.
Red Bank will impose a transfer and user tax to receive 2% of the receipts from each sale by a cannabis cultivator. 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 a municipal license 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.