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2 pot deals mean at least $500,000 a year for Manteca
embrac south lake tahoe
Inside the Embarc cannabis store in South Lake Tahoe.

Manteca going to retail pot sales likely means a bare minimum of $500,000 a year flowing into city coffers and community organizations.

That’s based on extrapolations from just two of the three community benefits agreements that will be before the City Council for approval when they meet Tuesday at 6 p.m.

The actual amount, of course, will depend on actual sales.

The proposed CBA with Nectar Markets of California that is locating in a former physical therapy space at 1519 West Yosemite Ave. includes:

 *Donating 1% of gross receipts to local non-profits, community-based organizations, civic organizations, and social services organizations.

*Making a 5% gross receipts contribution paid directly to the City of Manteca or the General Fund via the development agreement until such time that the City of Manteca implements a cannabis tax.

*If 6% of Nectar’s gross receipts falls below $250,000, Nectar shall commit to a total minimum community benefit of $250,000 each tax year. The minimum community benefit contribution will be allocated at 1% of $250,000 to community-based organizations and 5% to the City of Manteca.

*Purchasing automated license plate readers.

The proposed CBA Embarc Manteca that is locating in strip center space behind Dairy Queen at 1140-1142 South Main St. includes:

 *Allocating 1% of all cannabis sales to a Community Investment Fund in perpetuity to provide ongoing funding for community organizations. . Key initiatives of the effort will include, without limitation: enriching and empowering youths, supporting healthy and stable households, and creating and maintaining a family friendly environment in the community.

*Remitting 6% of gross receipts as a direct fee to the City.

*Purchasing automated license plate readers.

A CBA for the third licensee, Off the Charts Manteca that will open in the space formerly occupied by Main Auto Repair at 2325 West Yosemite Avenue near the municipal wastewater treatment plant, is still in the process of being finalized.

 

To contact Dennis Wyatt, email dwyatt@mantecabulletin.com