It appears that Greenceuticals LLC may have a cultivation facility in the City of Colusa after all.
After putting out a Request for Proposals for two undeveloped, city-owned lots at the corner of Bridge and Main Streets, the city only received two project proposals in response “ one from Greenceuticals LLC, and the other from Colusa resident John Rogers.
Citing the long term revenue potential for Greenceuticals proposed cultivation facility, the council voted 4-0-1 on Monday to approve the companys project. Councilman Dave Markss recused himself due to a potential conflict of interest, citing his financial relationship with Greenceuticals attorney, Matthew Smith.
The council chose the cultivation facility over an agriculture-related, retail business proposed for the site by Rogers “ who had been one of the most outspoken critics of the site previously proposed for the Greenceuticals project. Rogers offered the city $165,000 for the property “ which, on paper, was $5,000 more than Greenceuticals offered.
Tom Indrieri, who spoke on behalf of Greenceuticals as the companys real estate agent, clarified that the companys $160,000 offer was actually all money that would be going directly to the city, and did not include escrow, title, and realtor fees, which were figured separately.
Indrieri added that the company ” conservatively” expected to do $10.5 million in annual revenue, with $300,000 to $400,000 going to the citys coffers through permitting and development fees. He said construction would begin as soon as possible, potentially as soon as June.
Ultimately, Greenceuticals project won out.
” Ive sat up here with John Rogers for many years. I know hes a local boy,” said Councilman Tom Reische. ” Id love to see him on that property, but due to the revenue stream we have with the company Greenceuticals, and what theyre willing to do for the City of Colusa, I think we need to move toward the sale of that property to Greenceuticals, so I would make that motion.
Mayor Greg Ponciano seconded the motion.
” Based upon the fact that this process has gotten extended out over a period of time, for various reasons,” Ponciano said. ” But, one thing thats allowed me to do is do a little more homework on the company, on the business proposal, and get more and more comfortable with it. I think the more and more time passes, the more and more comfortable I am with it, especially at this location. I think it fits in nicely.
City Manager Jesse Cain explained after the vote that the city would be placing a deed restriction on the property as part of the sale agreement, which would ensure that what the council approved on Monday would actually be what occurs on the property.
” Well put a year deed restriction on it, that (says) if this company doesnt follow through with everything, the property will actually revert back to the city,” Cain said. –
