The Monterey City Council voted Tuesday to move forward with two waitlisted cannabis businesses after two previously approved operators failed to open within the required timeframe. The council approved moving forward with Infinity Assets Monterey LLC and Monterey Organic LLC, the next applicants on the city's waitlist for cannabis retail storefront permits.
The city originally approved four retail permits in 2024, but two businesses were unable to meet the deadlines tied to their approvals, even after receiving six-month extensions. The two locations were planned for North Fremont Street and Wave Street.
Before receiving permits, both businesses must still obtain zoning clearance from the city, according to Management Analyst Mark Ackermann. The city also held a lottery during the meeting to determine which applicant would receive each available location. Monterey Organic received the first draw, followed by Infinity Assets in the second draw.
The city's cannabis retail application process scored applicants in several categories, including owner qualifications, business plans, security plans, labor and employment plans, local engagement and sustainability.
Read more at Monterrey Herald
