More and more cash strapped cities in California are beginning to look to marijuana as a potential revenue resource. Many of these fine localities might say it is for other reasons (in Encinitas the purpose given is to "save local agriculture"), but if it wasn't for the tax potential of commercial ganja would they really be interested? I doubt it. It's always about the money.We'd caution both growers and revenue-hungry politicians that the projections based on current marijuana prices are likely to be wildly overstated, as commercial and home growers rapidly increase supply now that it's legal.
Former Sierra Madre Mayor Joe Mosca, who abruptly vacated a City Council seat halfway through his second term here a few years back, recently resumed his political career in the City of Encinitas. Now an appointed member of the City Council there, today he sits on a subcommittee tasked with bringing marijuana into their revenue mix. Faced with a massive $154 million in (euphemism alert) "unfunded market pension debt" (link), obviously no stone (or stoner) is being left unturned.
Tuesday, April 25, 2017
Is commercial marijuana production the answer to Encinitas' pension crisis?
Councilman Joe Mosca's old friend the Sierra Madre Tattler: