Why it matters: The principal chief of the Eastern Band of Cherokee Indians has vetoed a proposed $64 million in additional spending for North Carolina’s first medical cannabis dispensary, which is set to be a massive cannabis superstore.
What they are saying: Richard Sneed vetoed the Tribal Council’s recent approval of the final $64 million for the project because the original proposal said the entire project would be completed for $50 million. Sneed wrote in his message, “the fact that this project’s original cost was $50m, and we are now being told it is $95m, demonstrates that there is an immediate need for a full accounting of the money that has been expended to date.”
The big picture: The Eastern Band of Cherokee Indians approved an ordinance in 2021 to legalize medical cannabis on its land, and the tribe is currently planning on opening the first marijuana dispensary in North Carolina, which is the only location that would be in a three-hour’s drive from Charlotte where weed is sold legally.
What to watch: The dispensary is expected to open sometime this year, and lawmakers in the North Carolina legislature have pushed a bill that would legalize medical cannabis treatment.
My take: The veto highlights the need for transparency and accountability in the cost management of such projects. It is interesting to see a tribe take the lead in opening a dispensary, and it will be fascinating to see the impact it has on the community and the state’s overall stance on cannabis legalization.
