WOOD RIVER - Following a City Council meeting on Monday, Aug. 21, Wood River’s heavily-contested cannabis dispensary will move forward.
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The City Council voted on an ordinance authorizing a Redevelopment Agreement with Tatich 34 Wood River LLC. This ordinance was submitted by the TIF Committee and would provide TIF Financial Assistance for Tatich 34 Wood River LLC at their property at 56 East Ferguson in Wood River.
As a Tax Increment Financing (TIF) district, this property would be able to use revenue from sales taxes and property taxes for development projects. The Council voted 4–1 in favor of the ordinance, with Councilman Bill Dettmers voting no.
City Manager Steve Palen noted that last night’s vote was the last “roadblock” for the property owners, who can now move forward with opening the dispensary. He added that Tatich 34 Wood River LLC will have to undergo the same planning and permitting processes that all businesses complete before opening in Wood River.
“I guess they will proceed full steam ahead,” Palen said.
He estimated that the dispensary owners plan to open in 4–6 months.
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