As we beforehand mentioned, on March 28, 2023, america Court docket of Appeals for the Second Circuit narrowed the results of the November Choice and lifted the injunction that prevented the Workplace of Hashish Administration (“OCM”) from issuing the Conditional Grownup Use Retail Dispensary (“CAURD”) Licenses. The choice has enabled the OCM to problem licenses for companies in Central New York, Western New York, Mid-Hudson and Brooklyn because the court docket continues to listen to the attraction.
The brand new CAURD licenses
To that impact, on Monday, April 3, 2023, the OCM has awarded 99 extra CAURD licenses, together with 53 in New York Metropolis, particularly: 3 in Brooklyn, 9 within the Bronx, 21 in Manhattan, 17 in Queens and three on Staten Island. As of late 2022, the OCM had issued solely 36 CAURD licenses all through everything of New York State and solely 4 had been issued in New York Metropolis. The OCM is clearly rising their licensing efforts, which many have argued have been painfully sluggish.
The true property impacts of CAURD licenses
Will probably be attention-grabbing to see how the OCM offers with the actual property points that comes up with the licensing of so many new dispensaries. The OCM’s award of the extra CAURD licenses didn’t include particular addresses or timelines for these dispensaries. Beforehand, the OCM’s plan was to find, lease and build-out actual property areas for dispensaries through which they are going to place licensees. Nonetheless, after the sluggish roll out and delayed efforts by the Dormitory Authority of the State of New York (“DASNY”), the OCM reversed its course and has permitted CAURD licensees to seek out and use their very own actual property.
It’s unclear how the OCM and these new CAURD licensees will work collectively, or in direct competitors, for actual property areas that meet the quite a few necessities of the OCM and MRTA. Lastly, it is going to be attention-grabbing to see if landlords favor renting on to the State of New York or these CAURD licensees.
Keep tuned to the Canna Legislation Weblog for updates, and provides us a name should you’re inquisitive about making use of for a New York hashish license or working with one among these licensees, as a landlord or in any other case.