THE COACHELLAGRO ASSET

 

ABOUT COACHELLA

 

 

  • Located 28 miles (45 km) east of Palm Springs, 72 miles (116 km) east of Riverside, and 130 miles (210 km) east of Los Angeles

  • The progressive leadership in Coachella was open to cannabis and passed an ordiance that allowed cultivation, processing, distribution and testing 
  • City has approved over 120 acres and has already granted Conditional Use Permits (CUP) toseveral other companies in the zone that hold over 300,000 sq.ft. of approved space for cultivation
  • Medical marijuana business zone – one of the 1st in CA
  • One of the fastest-growing municipalities in California with a population of approx. 43,000 with a friendly cannabis community and known for the Coachella Music Festival
  • Highly trained agricultural workforce seeking bright future in cannabis industry

COACHELLAGRO ASSET

 10.8 acre property in Coachella Cannabis Zone  

10.8 acre property in Coachella Cannabis Zone
 

 

  • Medical marijuana business zone – one of the 1st in CA located on the east side of Harrison St., just south of Avenue 48

  • Parcel size:  10.82 acres; purchased by CoachellaGro for US $1.9 million (2017)
  • Numerous Conditional Use Permits have been granted in the zone
  • CoachellaGro is pursing Conditional Use Permits (CUP) for for 168,000 sq.ft. greenhouse facility for production, extraction and administration
  • Market comparable for land package with Conditional Use Permit (CUP) = US$ 5.4 million (USD 500k/acre)
  • Engaged medical marijuana industry leading engineering firm

HISTORY

  Coachella Valley

Coachella Valley

 

  • January 27, 2016, Coachella Council adopted two ordinances (1083 & 1084) permitting medical marijuana cultivation & manufacturing wholesale facilities to operate & distribute medical marijuana products to retail outlets in other jurisdictions where permitted

  • November 8, 2016, Council introduce tax ballot measure to the voters which passed & established a maximum 6% tax on gross receipts received & a maximum $15.00 per square foot tax on the space utilized at such a business for marijuana cultivation and or manufacturing
  • City Council may lower tax rate & repeal or amend as market conditions change
  • The City of Coachella has not authorized businesses in the zone to operate for the purposes of recreational marijuana, choosing to focus on medicinal marijuana instead
  • November 2017, Coachella City Council approves the use of greenhouse(s) facilities in the approved Coachella commercial park zone