As a result, prospective cannabis business operators often face a funding conundrum - it is frequently difficult to fund a business without a license, but one cannot obtain a license without real estate, which requires some funding.
Whether to purchase or lease real estate becomes a critical decision for any operator. The Company’s ability to secure Real Estate – a hard asset -- against financing must be carefully balanced against maintaining sufficient liquidity to sustain operations.
This program, presented by Katy Young, Managing Partner of Ad Astra Law Group, LLP, President of the International Cannabis Bar Association, and Lauren Rudick, co-founder of Hiller P.C.’s Cannabis Practice, will provide examples of creative solutions to resolving these threshold real estate focused application requirements. The discussion will cover how to “cannabis-ize” a traditional lease by including, among other things: an explicit permitted use and applicable regulations; ensuring compliance with state (not federal) law; subjecting landlord rights of reentry and possession to regulatory requirements, building in flexibility to comply with regulatory requirements regarding, among other things, garbage disposal, signage, parking, lighting, ADA compliance, and heightened tenant diligence requirements, as well as reviewing site control within the context of an operator’s short and long-term financing strategy.
Learning Objectives:
Navigating Real Estate Issues for Cannabis Businesses
This program, presented by Katy Young, Managing Partner of Ad Astra Law Group, LLP, President of the International Cannabis Bar Association, and Lauren Rudick, co-founder of Hiller P.C.’s Cannabis Practice, will provide examples of creative solutions to resolving these threshold real estate focused application requirements. The discussion will cover how to “cannabis-ize” a traditional lease by including, among other things: an explicit permitted use and applicable regulations; ensuring compliance with state (not federal) law; subjecting landlord rights of reentry and possession to regulatory requirements, building in flexibility to comply with regulatory requirements regarding, among other things, garbage disposal, signage, parking, lighting, ADA compliance, and heightened tenant diligence requirements, as well as reviewing site control within the context of an operator’s short and long-term financing strategy.
Learning Objectives:
- Discuss how real estate impacts and affects the state cannabis licensing process
- Identify the clauses that must be included in a real estate lease for a cannabis business
- Leverage real estate in a cannabis business financing plan
- Cannabis
- Real Estate
Navigating Real Estate Issues for Cannabis Businesses
Date + Time of the Free Continuing Legal Education Webinar:
Speakers:
- Katy M. Young, Ad Astra Law Group, LLP
- Lauren Rudick, Hiller P.C.
By:
Lawline
Cost:
Cost:
Free.
Credit:
- Alaska
- Arizona
- California
- Connecticut
- Other Jurisdictions: Check with your credit-granting authority; you might be able to self-apply.
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