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Quick Peak: City approves marijuana building lease; Council asks for Sugar Vault input

City approves marijuana building lease At its meeting on Thursday, August 18, City of Powell River council approved the leasing of the former Catalyst administration building, located at 6270 Yew Street, to a medical marijuana company.

City approves marijuana building lease

At its meeting on Thursday, August 18, City of Powell River council approved the leasing of the former Catalyst administration building, located at 6270 Yew Street, to a medical marijuana company.

The 10-year lease to Santè Veritas Therapeutics (SVT) will generate $180,000 in lease revenue per year for the city and at least $15,000 in additional annual municipal taxes.

The company said it expects the facility to provide 50 jobs in the first phase of operation and generate up to $4 million in local spending.

The lease gives SVT a three-year option to purchase the building with 30 per cent of the collected lease revenue going toward the purchase price. It also includes an option for one 10-year renewal.

SVT will be responsible for all building repairs and maintenance.

 

Council asks for Sugar Vault input

City of Powell River council voted unanimously at its meeting on Thursday, August 18, to proceed with a public consultation process for dessert lounge That Sugar Vault’s application for a primary liquor licence.

The opening of the establishment at Crossroads Village Shopping Centre earlier this summer has been fraught with concern from nearby neighbours over the amount of noise it would produce at night.

BC Liquor Control and Licensing Branch, the provincial body that decides on and issues the licence, invited the city to participate in a public process.

A public hearing will be set and feedback will provide the basis for council’s decision to either support the licence application or oppose it.