01/28/2019 BOARD OF SELECTMEN Agenda Packet

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(DRAFT-FOR DISCUSSION PURPOSES ONLY) Said grants shall be available to any business located in, or controlled by,residents of the Town of Mashpee,with a preference for those residents falling within Cannabis'Control Commission guidelines for populations of disproportionate impact by Cannabis prohibition. if the Company's directors determine that no such qualified businesses exist in Mashpee,they may issue such grants to the programs that follow, with the same preference that said funds should be used if possible for residents of Mashpee and/or those disproportionately impacted by Cannabis prohibition. The Annual Donations under this provision 5 shall not be considered part of the Annual Payment to the Town. Documentation of the Annual Donations shall be made in accordance with the Annual Payment schedule set forth in Paragraph 2. - 1) Cape Cod Chamber of Commerce—Launch Pad Co-Working Space for Creators and Innovators. - -- ---- _ 2) Entrepreneurship for All - Cape Cod—Economic Development Accelerator for Social Impact Through Entrepreneurship.. 3) Love. Live. Local.--Local E-Comme_rce Marketplace Project for Cape Manufacturers and Businesses = 6. Annual FUing. Company shall notify the Town whea_the 60rnpany corrnences sales at the Establishment and shall submit annual financial statements to:the Town on or before May 1,which shall includp,eortification of itenized gross^sales for thli ,previous calendar year, and all other information req uFred to ascertain complan.ce.with"lie terms of this Agreement, in add-tion to a copof its anhua]=filing as a- rofit, if any, to the Massachusetts Office of Attorri8y General Upon request,the Company shall provide the Town with the same access to its-financial recons {to be treated as confidential, to the extent:allowed by law} as s rec�u red y-the Corn-monwealth to obtain and maintain a license for the 89ia'b ishment = = The Company shall maintain its 9-- financial records and any other data related to its finances and>.operations rineeordance with standard accounting practices and any applicable regulations and guidelines promulgated by the Commonwealth of Massachusetts=U records shad be retained for a period of at least seven(7) years. 7. Re-O e ierM.-d iew. In the event that the Company enters into a host community agreement for a Retail Marijuana Establishment with another municipality in the Commonwealth of Massachusetts that contains terms that are superior to what the Company agrees to provide the Town pursuant to this Agreement, then the parties shall reopen this Agreement and negotiate an amendment resulting in benefits to the Town equivalent or superior to those provided to the other municipality. 4