Zoned Properties Inc (OTCMKTS:ZDPY) Receives Unanimous Approval For Development Plans Of Licensed Marijuana Facility
Zoned Properties Inc (OTCMKTS:ZDPY) a strategic real estate development company whose primary objective is to identify, advance, and lease safe, sustainable and sophisticated properties in growing industries reported that it obtained unanimous nod from the Town of Parachute, Colo.
Board of Trustees for an Assigned Property Rights deal to advance the first parcel of property at its Marijuana Business Park. These rights comprise numerous licensed marijuana applications and a variety of other mixed utilizations on the asset. Bryan McLaren, the CEO of Zoned Properties, said that as they have discussed in the firm’s business plan, the team has worked extensively with town leaders, regulators and local real estate professionals in the past year to design a comprehensive, mutually agreeable program that will benefit company, the local municipality and the future tenant operators.
The development plan has again been authorized by another municipality’s unanimous nod of a multi-year development agreement; in this instance a Vested Property Rights deal, which protects the permitting and zoning of the assignment for minimum a 5-year period.
This achievement highlights the importance of building sustainable partnerships and relationships within all municipalities. The achievement paves the way for tenant selection and structure to move forward in Parachute next year. Stuart McArthur, the Town Manager, reported that they are thrilled to witness a Zoned Properties’ advancement come to town. Their strategies fit well within the economic procedures for the community.
The firm intends to continue vetting and soliciting prospective occupants for long-term leasing and management of the developed facility. Zoned Properties expects that the assignment will be expanded from the preliminary 1.5 acre parcel up to a likely 35 acres across the subdivided asset in the imminent years.
The firm acquires commercial assets that face unique zoning problems and identifies solutions that can probably have a major impact on the funds flow and value generated. It targets commercial assets that can be bought and potentially re-zoned for explicit purposes.© Copyright 2016 OTC News Magazine. All rights reserved.