PARAMUS The council is outlining plans to allow recreational marijuana retailers, enticed by a transfer tax that would bring revenues to the borough.
Mayor Richard LaBarbiera said he was given preliminary numbers of medical marijuana facilities making about $20 million per location, of which $400,000 would return to the borough through the 2% transfer tax. It s all around us and I think it s imperative that we take advantage of this and keep that money in the borough, restricted from our residential areas, of course, LaBarbiera said at Tuesday s Borough Council meeting.
Currently, the borough code prohibits recreational marijuana dispensaries. Medical marijuana dispensaries are permitted only in the Highway Corridor Commercial zone along Route 4.
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