FALL RIVER — Money from recreational and medical marijuana revenue has begun to flow into city coffers and the initial numbers are looking pretty profitable.
“This is better than I thought,” said Financial Services Director Mary Sahady.
The city recently received its first 3% recreational host fee from Northeast Alternatives, its first medical and recreational dispensary.
From Jan. 20 to Feb. 28, the business located on William S. Canning Boulevard reported sales of $3 million worth of recreational marijuana and cut a check to the city for nearly $88,000.
Sahady said she’s awaiting the 3% match for the sales of recreational marijuana from the Commonwealth of Massachusetts.
Northeast Alternatives has also paid the city its annual $50,000 fee for doing business in the city and a $25,277 host fee for the sale of medical marijuana in the time frame of June 18, 2018, to Dec. 31, 2018. The pot shop sold $842,000 in medical marijuana.
Hope Heal Health, located in a converted mill on West Street, has also paid its $50,000 annual fee, said Sahady. So far, the dispensary paid $406 to the city for its first week of medical marijuana sales in February.
Hope Heal Health as well as Greener Leaf have both been given preliminary permission to sell recreational marijuana from the Cannabis Control Commission.
Nature’s Medicine, with a dispensary on Globe Street, opened its doors for the sale of medical marijuana and still owes the city its $50,000 annual fee, according to Sahady.
In total, 11 marijuana businesses have received local approval from Mayor Jasiel Correia II.
Aura Cannabis Company is the latest to be awarded a letter of non-opposition and a host agreement from Correia. The dispensary would be located at the former Corner Sleep Shop at 353 Mariano Bishop Boulevard.
Sahady said she is including marijuana