This content was originally published by the Longmont Observer and is licensed under a Creative Commons license.
Longmont City Council unanimously approved an agreement Tuesday night with the Boulder Small Business Development Center (SBDC) to review and analyze the business plan section of all 13 Longmont marijuana license applications.
The City of Longmont will pay the SBDC $650 per application from funds collected from marijuana application fees.
According to city council communication, the SBDC will "provide an analysis of strengths and weaknesses of each application and provide a summary report to the City."
As part of the business plan, applicants were "required to include a description of the business, past experience in the marijuana industry or other industries, a market analysis and a marketing plan. In addition, applicants provided a description of management and operations including staffing plans and hours of operation, as well as financial information such as proof of banking relationship, liquid assets of $250,000, financial projections, and sources of funds including the identity of all financiers."
No one spoke for or against the agreement during public invited to be heard.
