03/25/2019 BOARD OF SELECTMEN Agenda Packet

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It is, further, acknowledged by the Company that in the event the Town adopts, by local option, the additional local 3%tax on the retail sale of marijuana for adult use pursuant to G.L. r. 64N, § ], osVfthe effective date ofsaid tax, said tax shall be paid osa local tax in addition tVany other payments stipulated herein. S. Education and Prevention Programs The Company, in addition to any other payments specified herein, shall annually contribute to non-profit entity or entities in an amount no less than Twenty-Five Thousand Dollars ($25,000) for the purposes of drug abuse prevention/ treatment/education programs (the "Annual Donations"). The education programs shall be held in K4ashpee and those communities adjacent to K4ashpee. Prior to the selection of non-profit entity program for this purpose, the Company will review it intentions with the Town, acting through its Town Manager and Chief of Police to ensure that the proposed programming is consistent with community needs. The Annual Donations shall not be considered pert 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. In the event that no non-profit entity can offer the appropriate programming to Mashpee and the surrounding area,the contribution shall be paid to the Town to hold in a restricted fund for release upon mutual and written agreement of the Company and Town once aneligible non-profit program isidentified. G. Annual Filing Company shall notify the Town when the Company commences sales at the Establishment and shall submit annual financial statements to the Town on or before May 11t, which shall include certification of itemized gross sales for the previous calendar year, and all other information required to ascertain compliance with the terms of this Agreement, in addition to a copy of its annual filing as a non-profit, if any, to the Massachusetts Office of Attorney General. Upon request, the Company shall provide the Town with the same access to its financial records (to betreated asconfidential,tothe extent,allowed bylaw)asit\srequired bythe Commonwealth to obtain and maintain a license for the Establishment. The Company shall maintain its books, financial records and any other data related to its finances and operations in accordance with standard accounting practices and any applicable regulations and guidelines promulgated by the Commonwealth of Massachusetts. All records shall beretained for aperiod ofatleast seven (7) years. 7. Re-Opener/Review 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 other municipality.