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PUBLIC COMMENT <br />RA- <br />.u�I�annabis Dispensary RevenL--y _ f! u_ r <br />Pleasanton <br />Context: <br />Pleasanton faces a structural budget deficit <br />- Cannabis is now a mature, heavily regulated industry in California <br />- Currently, Pleasanton residents buv cannabis elsewhere, sending tax dollars to neighboring cities <br />Califomia Cannabis Tax Structure: <br />- 5zare excise tax: up to 15% <br />-rrrP and Foca! sales tax: approx. 10.25% in Pleasanton <br />- ^^ne ^�^^�^�s - siness tax: city -determined, typically 5-10% of gross sales — revenue stays in <br />Pleasanton <br />Potential Local Revenue for Pleasanton: <br />- Based on local cannabis tax only <br />- Range: hundreds of thousands — possibly up to millions annually, depending on tax rate and number <br />of dispensaries <br />Examples from Nearby Cities <br />City <br />Number of Dispensaries <br />Local Tax Rabe <br />Annual Revenue (Local Tax) <br />San Leandro <br />1 <br />6% <br />$1.5 million <br />Livermore <br />2 <br />5% <br />$1 minion <br />Emeryville <br />1-2 <br />5-10% <br />Several hundred thousand <br />Oakland <br />Multiple <br />10% <br />Tens of millions <br />Why Pleasanton Should Consider This: <br />- Generates significant local revenue without raisins reside It faxes <br />- Funds could support library hours, public safety, paries, and recreation <br />- Gity retains fuii control over zoning, hours, and community benefit agreements <br />Encoumgcs local business compliance in a tightly regulated market <br />Recommendation: <br />- Direct staff to study viability and, if feasible, create a fair application process for licensed, reputable <br />cannabis retailers <br />