RES 16-106CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO. 2016-106
RESOLUTION ACCEPTING COMMUNITY SUPPORT OBLIGATION
PAYMENT CONTRIBUTION FROM VIREO HEALTH OF MINNESOTA,
LLC FKA MINNESOTA MEDICAL SOLUTIONS, LLC
WHEREAS, the City of Otsego (CITY) supported the application of Vireo Health
of Minnesota, LLC FKA Minnesota Medical Solutions, LLC (hereinafter MINN
MED) seeking license from the Minnesota Department of Health for growing and
processing cannabis; and
WHEREAS, MINN MED represented to the CITY that if granted the license it
would provide Community Support Payments to CITY in at least the amount of
$20,000.00 for the first two years of operation and/or 2% of its net profits for that
period, whichever is greater, as well as an ongoing obligation after the initial
period to make an annual yearly payment of 2% of its net profit thereafter; and
WHEREAS, MINN MED has determined that it will make the $20,000.00
contribution at this time, subject to review of net profits for the second year of
operation which could result in the obligation to make a further contribution.
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of
Otsego, Wright County, Minnesota as follows;
1. The CITY hereby accepts the $20,000 dollar Community Support
Obligation payment, subject to possible additional payments upon review
of net profits in the initial term.
ADOPTED this 12th day of December, 2016 by the Otsego City Council.
MOTION TO ADOPT the Resolution by Council Member Darkenwald
and seconded by Council Member Wa rph i mP
IN FAVOR:Stockamp, Darkenwald, Warehime, Heidner
OPPOSED: None
CITY OF OTSEGO
J sica Stockamp, Mayor
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Tami Loff, City Clerk
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