SIOUX FALLS, S.D. (AP) — The Sioux Falls City Council has capped the number of retail stores that can sell medical marijuana at five.
The council on Tuesday night signed off on a proposal coming from Mayor Paul TenHaken’s office. But, council members halved the $100,000 license fee that City Hall wanted and will allow the licenses to be sold on the secondary market.
TenHaken and supporters of barring the transfer of dispensary licenses worry that allowing them to be sold on the secondary market will give them an artificial value. But the majority of the council decided without allowing a license to be owned outright, the city’s medical marijuana rules would unduly restrict a retailer’s ability to grow their business.