Boston City TV, MA City of Boston Cannabis Board, 11 May 2022

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From YouTube: Boston Cannabis Board - Transactional & Voting Hearing - 5.11.22

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Boston Cannabis Board - Transactional & Voting Hearing - 5.11.22

A

Good afternoon, we're just going to give it a moment to let people come in from the waiting room.

A

And please just make sure you're muted, as well.

A

Good afternoon and welcome to the boston, cannabis board, the bcb administrative and voting hearing today is may 11 2022.. Today's hearing is being conducted pursuant to certain temporary amendments to the open meeting law. This is what allows us to meet. Virtually this hearing is being recorded and will be posted to the city of boston's website. Before I review some procedural matters, I will introduce cheryl and kathleen jones.

B

Thank you jasmine good afternoon. My name is kathleen joyce, I'm chair of the boston cannabis board, and today I'm joined by commissioner alejandra sankian and commissioner darlene lombos.

A

And my name is jasmine nguyen and I am the boston cannabis board manager and also joining us is allison quinn. Who is the project manager? I will begin by reading each item into the record. I will then ask who is present on behalf of each applicant. The applicant will have five minutes to present to the bcb, followed by questions from the board members. We will then take public testimony, beginning with elected officials or their representatives, followed by the general public. You may use the chat function to request to testify.

A

After we hear testimony, we will then move to a vote. Each board member has the ability to grant grant with conditions defer, reject without prejudice, which means the applicant can return at any time with an application at the same location or reject with prejudice, which means the applicant cannot reapply at the same location for one year. We only have one matter on the agenda, which is an amendment to an already approved license. We do not have to have any new licenses being heard today.

A

Calling the applicant is east boston, bloom, llc. The licensed premise is at 71, mavic square east boston. The license type is a recreational retail dispensary license. The request is for a change of ownership.

A

Prime time, mass retail llc proposes to acquire 75 of the equity of boston, blue market garden inc, which will be 37.5 interest owner in east boston, blue llc, which is the licensing who is president on behalf of the licensee.

C

Good afternoon my name is sierra grant of smith castle and crawford. We are present along with uh david ulian, kieran, ringenberg and julius circle.

A

Perfect, so you may begin sharing your screen. If you have a presentation- and you have five minutes.

C

Thank you. I will share my screen right now, so that you can just see this graphic. um I think it just helps. uh Just you know, depict what we're talking about here a little bit better um again. My name is sierra grant and I'm going to pass it over to julia sokol of east boston bloom. To give you a little uh overview of what's going on here,.

D

Good afternoon, julia sokol, I'm one of four individuals that have an interest in east boston, blue mellow state. My interest is through a blue market garden inc, which I own, with nicholas spagnola.

D

uh Rather than move forward uh to help facilitate the deal, I agreed to sell half of my interest as well both interest to uh prime time uh group, uh the other fifty percent of the license, um luis and steven basco remains unchanged.

D

So this is for half of blue market garden. I'm sorry, three quarters of blue market garden, which accounts for 37.5 of the license itself. um That's.

E

It from my end.

D

For uh the exchange of the interest- and I can answer any questions as well.

A

Is that the extent of the presentation, sarah or julius, that's the.

D

Sorry yeah, that's it uh nothing! I remain with the company operating and everyone else remains as well.

A

D

To explain, I I think from my end.

A

Okay, thank you. You can stop sharing this or no actually leave it out just in case of the um they have questions specifically chairman joyce. Do you have any questions for the applicant.

B

I'm just pulling up the share drive for a second, so I'll defer to the other commissioners to see if there's any questions. While I look up my folder okay.

A

um Commissioners,.

F

Yeah, I'm just taking a look at this chart again and it sounds like it looks like the the license. The 50 of the license would still be owned by the current licensee. Is that correct.

F

D

It's more than that, I believe it's.

D

So remaining will be, uh 62.5 will still be owned by the current license.

C

And the the entity that is owned um by luis and steve vasco uh will be unchanged, um as you can see in this picture, which owns 50 of the license. Still.

F

Right: okay, that's what I was getting at and uh and so that won't be transferred that will still be- and this is not an equity applicant jasmine. Is that correct, correct? Okay, thank you.

F

I don't have any questions any more questions, commissioner,.

A

Thank you. Do you have any questions.

E

um Just like you know, just kind of a break breakdown of a reasoning um julius. How much did you own were you or the the sole owner of bloom market prior.

C

I'll uh I'll try to speak to that, I think julius might be having some connectivity issues.

F

C

Prior to prime time's um interest in the company, blue market garden had been owned um by julia sokol and another individual nicholas spagnola. They owned equal shares of bloom market garden, um so each of them would have had 25 percent ownership and control of the licensee east boston. Bloom, mr spagnola, is no longer involved and has stepped away, and then uh julius is also selling half of his interest, along with um mr spagnuola's interest, to make up the uh the 75 percent of bloom, which translates into 37.5 of each.

D

So I own 25 percent and nicholas fagnolo, I'm sorry! I own 50 percent, nicholas.

A

We lost you julius, I don't know if you can hear us.

C

I think we might have totally lost him.

A

But I don't even see him on the I'm.

C

I'm happy to uh I'm happy to I'll answer any follow-up to that.

E

Yeah, I think I'm just the question sort of like you know, and I know this predated our board, so you know- and it's already been you know approved at the state level. I.

F

E

Was there in terms of like the the meetings, and you know, kind of sort of the selling of this business for to the community it being locally owned, like a big factor of it going forward?

E

um Do you see sort of any kind of have you seen any kind of pushback on it now being 37 owned by um an entity that I believe is in british columbia right.

C

um We haven't seen any pushback on that.

C

um I do think a big selling point of the the company was certainly you know the aspect that it was locally owned, but also that um luis and steve are are minorities um from the community and that they would be owning 50 of the business and and that's why we think it's so important to make it clear that that part hasn't changed um and that's being that's being kept the same, um but no um no negative feedback from the community on that, and you know a lot of the reason for seeking um some.

C

Some new partners was to get some some equity into the company and and to get uh the company open and operating in the community, so yeah um a big incentive for that. There.

E

Yeah yeah, okay, yeah! That's that's helpful, helps clear it up. Thank you. Yeah, of course,.

B

Chairman joyce yeah, I just want to make sure the board has on file the breakdown of all these llc's and the ownership interest down to the you know: 0.001 percent.

B

So can you just touch base with jasmine if we're missing anything and please submit that.

B

The org chart is helpful, but what we require is um a breakdown of the names of everyone in these holding companies.

C

Sure um I can, I can follow up with jasmine to make sure that you have all the information um and also you know, follow up with prime time to see what information uh additional information would have to be provided there.

C

A

Any other questions from the board members.

A

Okay, now you can start stop sharing sarah.

A

Next, we were moved to public testimony, beginning with elected officials or the representatives. Is there anyone that is here to speak in favor of this proposal.

A

Singing no one.

A

Seeing no one that wants to speak, we will now move to the vote for this matter. um Chairman majority, so you have a motion.

A

B

I make a motion to approve these changes, as requested.

A

Is there a second second.

E

A

A

And hi of those okay, so this the change of motion request is granted. uh We will follow up as far as the all the ownership interest holders in each llc and those are all the matters before the board today. Our next transactional hearing will take place june, 15th at 1pm. Thank you all for attending and enjoy the rest of your day. Thank you.

E