If you’re looking to embark on the path of becoming a CAURD licensee in New York, understanding the CAURD license application process and exploring dispensary location options are crucial steps. In this blog post, we’ll delve into the key points to note about the CAURD license New York application, including requirements and deadlines. Additionally, we’ll shed light on the different options available for selecting a dispensary location. So, let’s dive in and explore what the CAURD license in New York entails.
What is a CAURD license?
The CAURD license grants permission to acquire, possess, sell, and deliver cannabis from a single location. CAURD license holders, including any Third-Party Investors (TPIs) associated with a retail dispensary licensee, are restricted from having a direct or indirect financial or controlling stake in more than three (3) CAURD licenses.
Understanding the CAURD License Application:
To commence your journey as a CAURD licensee, the first step is completing the CAURD license application. This application is a critical requirement to establish your eligibility for operating a retail dispensary in the adult-use cannabis market of New York. Familiarize yourself with the comprehensive set of application requirements, which may encompass background checks, financial disclosures, operational plans, and social equity qualifications. Ensure that you gather all necessary documents and submit your application within the specified deadline.
CAURD License Application Deadline:
- Application Deadline: Stay well-informed about the specific deadline for submitting your CAURD license application. Missing this deadline could lead to delays or exclusion from the current application cycle, impacting your journey as a CAURD licensee.
- CAURD License Requirements: The CAURD license in New York encompasses various requirements, including social equity qualifications, financial stability, operational expertise, and compliance with relevant laws and regulations. Thoroughly review the requirements to ensure that you meet all the necessary criteria for consideration.
- Conditional Adult-Use Retail Dispensary (CAURD) License: The CAURD license is a conditional license granted to social equity applicants who meet the eligibility criteria. This license allows you to operate a retail dispensary while adhering to specific conditions and regulations set forth by the New York Office of Cannabis Management (OCM).
Exploring Dispensary Location Options:
Whether you prefer a Fund location, a Licensee Identified Location, or a Licensee Provided Location, understanding the process will help you make an informed decision for your business.
1. Fund Locations:
CAURD licensees can be matched with a location secured by the New York Social Equity Investment Fund. These “Fund Locations” are retail dispensary sites that have been vetted, built-out, and leased by the Fund. They are made available to CAURD licensees on a rolling basis. Matching with a Fund Location provides several benefits, including a premium retail location, access to capital for upfront costs, design and construction services, and more. If you’re interested in a Fund Location, complete the NYS Office of Cannabis Management’s CAURD Location Survey and express your preference.
2. Licensee Identified Locations:
Another option is to identify an available retail dispensary location on your own and propose it to the Fund for review. This is known as a “Licensee Identified Location.” Once you submit the proposed location via the CAURD Location Survey, the Office will review it for compliance with retail dispensary proximity limitations and restrictions. If approved, the Fund will assess the location’s suitability and conduct negotiations with the landlord if it meets the requirements.
3. Licensee Provided Locations:
CAURD licensees may also submit a retail dispensary location that they already own or have obtained the right to use. These are called “Licensee Provided Locations.” Unlike Fund Locations, Licensee Provided Locations are not eligible for Fund support. However, this option provides licensees with flexibility, allowing them to open on their own timeline and find a location that best suits their needs. Submit your Licensee Provided Location through the CAURD Location Survey for review by the Office.
Temporary Delivery-Only Locations (TDOs):
Additionally, if you haven’t received final approval for a storefront retail dispensary location, you can consider opening a Temporary Delivery-Only location (TDO). TDOs allow you to serve customers through delivery services only. While they have some distance requirements similar to storefront retail, TDOs have greater flexibility in terms of building structures. However, TDOs are not eligible for Fund support.
Becoming a CAURD licensee in New York involves completing the CAURD license application and selecting a dispensary location. Familiarize yourself with the application requirements, ensuring compliance and meeting the deadline. Explore the various dispensary location options available, including Fund Locations, Licensee Identified Locations, and Licensee Provided Locations. Each option has its own benefits and considerations. For further information and assistance, rely on the OCM as your primary resource. Good luck with your CAURD license application and embrace the exciting journey of being a cannabis entrepreneur in New York!