REPORT TO THE CITY COUNCIL
FROM: GEORGEANNE A. WHITE, City Manager
Office of Mayor & City Manager
BY: JENNIFER RUIZ, Deputy City Manager
Office of Mayor & City Manager
SUBJECT
Title
Actions pertaining to Commercial Cannabis Activity:
1. Approve the Loan Agreement for Eddie Rodriguez (the Owner) of Truffle Tree LLC, a cannabis social equity business, in the amount of $75,000 to assist with the start-up, regulatory costs, and operating costs of opening a retail commercial cannabis business in the City of Fresno.
2. Adopt a Resolution Authorizing the City Manager to award $114,006.85 in State of California Cannabis Equity Act Grant Funding to each approved Social Equity Applicants.
Body
RECOMMENDATION
Staff recommends that the City Council approve a cannabis social equity loan agreement for Truffle Tree LLC and approve a resolution to authorize the City Manager to issue additional grants to five cannabis social equity applicants.
EXECUTIVE SUMMARY
The Fresno Municipal Code requires that the City Manager develop a program, as funding is available, to issue business loans and grants to qualified equity applicants. The City of Fresno executed a grant agreement with the State of California to accept the Cannabis Equity Act Grant. Through this grant, the City has offered a $33,000.00 grant to cannabis social equity applicants to assist with City of Fresno fees associated with a CUP application and cannabis business permit. The City has also offered a $75,000 no-interest loan to help with business start-up costs for each cannabis social equity business, once it has preliminary CCB permit approval, funded by the State of California Cannabis Equity Act Grant.
On January 25, 2023, Eddie Rodriguez submitted an application for the cannabis social equity loan program on behalf of Truffle Tree LLC. The company is a cannabis social equity business, located at 245 M Street, in Fresno, with preliminary approval for a commercial cannabis business microbusiness...
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