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Council creates Host Community Fund after unexpected $39,000 cannabis excise payment
Summary
After receiving $39,000 in cannabis excise funds in January, the Council unanimously adopted Resolution 010-26 to establish Host Community Fund (224) to hold and control the revenue while Council considers eligible uses such as housing demolition and other restricted purposes.
The Alliance City Council voted unanimously Jan. 20 to establish a Host Community Fund (Fund 224) to receive and control cannabis excise revenue after Auditor Knowles reported the city unexpectedly received $39,000 in January. Knowles said the city received "36% of the 10% excise tax" and asked council to establish a restricted fund to manage the receipts.
Councilman Phillip Mastroianni asked about allowable uses and whether demolition of blighted properties would be an appropriate use; Auditor Knowles said the money can be isolated for a restricted purpose and that council can later modify or expand permitted uses. The council suspended rules and adopted Resolution 010-26 by roll call vote. Knowles told council he will report back with regular updates on the monthly receipts and how they will be tracked under the new fund.
