Denver will extend a moratorium on new players in the city’s recreational cannabis industry until May – rather than another two years as initially proposed – to study the issue further before deciding whether to implement a longer ban.
The current moratorium that only allows existing medical marijuana businesses to get into the recreational cannabis industry is set to expire on Jan.1.
The city council had been considering extending the moratorium for another two years, but this week officials announced that they would walk that back to a four-month ban, according to the Denver Post.
The council could still decide to implement a longer extension of the moratorium in May.
But the Post reported that at least one attorney representing hopeful new industry entrants isn’t happy with the council’s indecision.
“Tens of dozens of business owners” have been planning on and waiting for the moratorium to expire on New Year’s Day, attorney Loren Davis told members of a council committee meeting this week.
Those entrepreneurs have spent money shoring up rental space and applying for state business licenses. So even another four-month wait could be quite costly for firms.