Sioux Falls will ban marijuana grow businesses and cap dispensaries at 5 – Sioux Falls Argus Leader
Medical marijuana retail licenses will be one of the hottest commodity in Sioux Falls.
The Sioux Falls City Council Tuesday night signed off on a proposal coming from Mayor Paul TenHaken’s office that will cap the number of retail stores that can operate in the city at five. And though councilors halved the $100,000 license fee that City Hall wanted, a another late change to allow the licenses to be sold on the secondary market are expected to drive the value of a license up even hirer.
“The Sioux Falls City Council, by making a license worth $50,000 and transferrable, has just made dispensary licenses into liquor licenses,” said Drew Duncan, a Sioux Falls attorney and lobbyist for clients South Dakota’s gambling and alcohol industry, via social media following the 7-1 vote.