Borough Council members may take formal action at their meeting tonight, Jan. 25, regarding a proposal to cultivate and manufacture cannabis at a facility proposed at 265 Industrial Way.
A representative from Cana-Bosem, LLC, presented the application to the governing body on Jan. 11, but no action was taken because the council members agreed they wanted to meet the owners of the business before a formal decision was made.
The owners of the business may attend tonight’s council meeting in the municipal building. The applicant is seeking a resolution of support from the council, which it would then bring to state cannabis regulators as it pursues a license to operate the proposed business in Eatontown.
Speaking during the Jan. 11 council meeting, Scott Stein, a representative from Cana-Bosem, told municipal officials the 35,000-square-foot facility would house an indoor farm.
He described a 45-day process with five harvests per year. The expected gross revenue could reach $50 million and Eatontown would receive 2% through a local tax.