House of Lucidity Opens in Cathedral City
The House of Lucidity, Cathedral City’s newest dispensary, officially opened with a ribbon-cutting—complements of the Greater Coachella Valley Chamber of Commerce—on May 1.
The 10,000 square foot facility is located at 36399 Cathedral Canyon Drive. In addition to the gorgeous dispensary—which features black-and-white photos of celebrities including Frank Sinatra—House of Lucidity also has a cultivation facility and an extraction lab.
House of Lucidity is open from 4 to 9 p.m. daily. For more information, call www.houseoflucidity.com.
City of Coachella to Host Cannabis Summit
The city of Coachella is bringing in a lot of big names for its SoCal Cannabis Summit, taking place at the Fantasy Springs Resort Casino on Monday and Tuesday, June 24 and 25.
The summit will begin with a cultivation and dispensary bus tour, followed by a reception on Monday. On Tuesday, the summit will feature speakers including Riverside County District Attorney Michael Hestrin, California Bureau of Cannabis Control Chief Lori Ajax, California Treasurer Fiona Ma, and many other political leaders and marijuana experts. An exhibit hall will also be open to the public with free admission on Tuesday.
Tickets for the bus tour are $50, while summit tickets are $75. For tickets or more information, visit coachellacannabissummit.com.
Marijuana Revenues Disappoint Gov. Newsom
Revenues from marijuana growth and sales are bringing millions of dollars into state coffers—but not nearly as much as the state anticipated.
According to a May 23 news release, the cannabis industry—via the state’s cannabis excise tax, cultivation tax and sales tax—paid $116.6 million to the state in the first three months of 2019, according to first-quarter tax returns, due April 30, which had been submitted so far. That’s up slightly from the $111.9 million paid during last quarter of 2018.
Earlier in May, Gov. Gavin Newsom had to scale back cannabis-tax revenue projections significantly—cutting $223 million from the amount expected to be collected by June 2020.
According to the Associated Press, the reasons for the disappointing sales included the thriving illegal market, as well as the state’s struggles with licensing and regulation.
Newsom also blamed some states and counties for not welcoming legal cannabis into their communities.
“We knew (some counties and cities) would be stubborn in providing access and providing retail locations and that would take even longer than some other states, and that’s exactly what’s happening,” he said, according to the Associated Press.