HUMBOLDT TOWNSHIP, Mich. (WLUC) - The Keweenaw Bay Indian Community’s Tribal Council, after due consideration, has decided not to go forward with the purchase of the ELF Facility located in Humboldt Township, according to the community's September newsletter.
The council, in doing its due diligence, considered the pros and cons of the purchase, looked at numerous factors involved with the purchase, and determined that purchasing the facility was not the best decision for the community at this time.
“We thank Mr. Parker for working with the Community, and we wish him the best as both parties move forward,” said KBIC President, Warren “Chris” Swartz, Jr.
The community voted to approve the following referendum: Do you approve of an investment of $4 million into the acquisition of a medical marijuana grow and dispensary business?
The investment would come from the Elder’s Trust Fund which would be paid back to keep it solvent. The investment would cover the acquisition of real estate to be used for a dispensary and grow facility, retaining political and legal representation, licensing fees, and all other associated costs.
This vote of the community grants broad authority for the Tribal Council to get into the marijuana industry. The Tribal Council is considering moving forward with a contingency plan of developing the Negaunee Township airport property.
The development will include a marijuana grow operation, a marijuana processing facility that creates marijuana concentrates, and a dispensary that sells marijuana all at the same location.
This contingency plan offers significant capital investment savings and other advantages over locating the business at the ELF facility.
The Tribal Council says it intends to hold a community meeting soon for tribal members to discuss a potential investment at the former airport property and to seek feedback from community members as to whether the Tribal Council should move forward with the investment.