Pot as City's Revenue Stream
February 25, 2011 - nbcbayarea.com
February 25, 2011 - nbcbayarea.com
The tiny California town of Isleton has put its economic hopes in a
medical marijuana basket. Isleton is about 50 miles south of Sacramento
and east of I-5. It's best known for holding a crawdad festival each
year, but tough times forced the city to cancel the event last year.
There was a real concern the city would go bankrupt.
In walks a medical marijuana idea.
To help stop a gaping budget deficit, the city decided to accept a
proposal to allow some city land to be used to grow medical pot.
Delta Allied Growers will build a 4,000-square-foot indoor medical
marijuana nursery on a tiny piece of property inside the Isleton city
limits.
The grower will pay the city either three percent of its profits or
$25,000 -- whichever is bigger. That's a minimum of $300,000 a year of
new revenue, but it could bring in as much as $600,000. Either way it
is a significant bump in the city's general fund.
But wait! There's more:
In addition to the taxes and fees, the growers have agreed to install
security cameras anywhere in town that the Isleton police chief
chooses. It will also buy the police department a new mainframe
computer and new laptops so they can monitor the cameras anytime
anywhere.
The proposal is something no other California city has tried and it
will surely be watched up and down the Golden State.