A. A commercial cannabis business may only operate at a location, occupy a structure, or use personal or real property of any kind if that location, structure, or property is owned by the commercial cannabis business or an owner of the commercial cannabis business.

B. Notwithstanding subsection A of this section, a commercial cannabis business (or owner thereof) may lease property of any kind from a third party in connection with the commercial cannabis business, so long as (1) the lease does not exceed fair market value for a lease to a commercial cannabis business and (2) the payments due under the lease are stated as a fixed monthly or annual amount or are based on a formula that does not take into account the sales or profits of the commercial cannabis business.

C. No commercial cannabis business, or owner thereof, shall enter into any contract with any party other than an owner, employee or agent of the commercial cannabis business that in any way varies the obligations under the contract based on the gross receipts or profits of the commercial cannabis business.

D. A commercial cannabis business (or owner thereof) may enter into a lease or agreement that would otherwise be prohibited by subsection B or C of this section if both (1) all counterparties to the lease or agreement are treated as owners of the commercial cannabis business on the permit for the commercial cannabis business and (2) a copy of the lease or agreement is provided to the public safety administrator. (Ord. 2020-08 § 3, 2020)