Page 62 - BusinessWest August 17, 2020

‘Heroes in Healthcare’ Exhibit
Through Jan. 24: The Springfield Museums will present “Heroes in Healthcare: Celebrating Spring- field’s Medical Community” at the Wood Museum
of Springfield History from Aug. 3 through Jan. 24, 2021. As a complementary exhibit to Hall of Heroes, located on the first floor of the Wood Museum of Springfield History, “Heroes in Healthcare” pinpoints the deep appreciation we all feel for those who put themselves in harm’s way in order to help others. From the Civil War through present day, doctors and nurses, public-health employees, social workers,
and philanthropists have contributed significantly to improv-
Knights Of Columbus Golf Tournament
Aug. 21: The Greenfield Knights of Columbus Coun- cil #133 will host its seventh annual charity golf tournament at Crumpin-Fox Club in Bernardston. This year, the Greenfield Council #133 recognizes the United Arc as its tournament partner. The event will be an 18 hole, four-person scramble with tee advan- tages for senior golfers. The entry fee of $125 per person includes greens fees, carts, use of the prac- tice range, and prizes for the winners. A $35 gift card will be given to all golfers, which can be used at any time for meals, merchandise, or golf-related items. Raffle tickets will be sold, with prizes including a three-day Cape Cod vacation, a sports package, golf certificates, a ‘mystery box’ provided by the United Arc, restaurant certificates, auto packages, and much more. A hole-in-one contest will offer a chance to win a new car or other significant prizes. In addition to the United Arc, the proceeds from the event will be used to fund a number of Council #133’s worthy causes in Greenfield and Franklin County, including the Pan Mass Challenge, Baystate Franklin Medical Center’s Wheeling for Healing, Farren Hospital’s Gift of Light, the Greenfield Homeless Shelter, monthly community meals, high-school scholarships, honor- ing veterans on Memorial Day and having Wreaths Across America wreaths placed on graves at Christ- mas, several youth sports programs, and more. To sign up or for more information, call Lou Grader at (413) 774-2848, Dan Arsenault at (413) 774-5258, Bob Wanczyk at (413) 774-2465, Paul Doran at (413) 522- 1800, or Joe Ruscio at (413) 768-9876.
Women’s Leadership Luncheon Series
Aug. 26, Sept. 30, Oct. 28: On July 29, Holyoke Com- munity College President Christina Royal and Aman- da Sbriscia, HCC’s vice president of Institutional Advancement, kicked off a reimagined monthly Women’s Leadership Luncheon Series. The 2020
significant, as the “controlling interest” language has generally been interpreted to relate only to an actual equity interest, while the meaning of “having control” could include people with substantial decision-mak- ing authority, even if they are not actually a majority owner. These changes may not be nearly as substan- tial as the 2019 overhaul of the definition of control, but the fact that the CCC felt that additional changes were necessary at all is a sign that attempts to cir- cumvent the license cap are still happening.
One prosed change that seems to cut against the trend of tightening restrictions on ownership is the revision to the craft marijuana cooperative license, which would actually loosen the requirement that a member of the cooperative filed a profit or loss from farming in the last five years (i.e. they’re a farmer). If accepted, the revisions would allow a cooperative to satisfy this requirement by merely leasing land from such a person. There are plenty of good reasons for this change, but ultimately it likely arises from the CCC’s recognition that the requirements for a craft cannabis cooperative are so burdensome and idio- syncratic that only three applications have been sub- mitted for this license type, and of those, only one has even received a provisional license.
With nearly 550 applications receiving provisional or final licenses, and only 122 currently authorized to commence operations (and a shameful dearth of racial or economic diversity among these licensees), it is becoming clear there is a financial bottleneck
in the licensing process. Most commercial financial institutions still won’t go anywhere near the cannabis industry, and cannabis entrepreneurs must therefore
Women’s Leadership Luncheon Series, postponed from spring due to COVID-19, will now take place virtually over Zoom on the last Wednesdays of each month from noon to 1 p.m. The series is sponsored by HCC and Training and Workforce Options (TWO), a collaboration between HCC and Springfield Tech- nical Community College. Each lunchtime event will feature two presenters leading discussions on dif- ferent topics. On Aug. 26, “Empowering Women in the Workplace” will be presented by Denise Jordan, executive director, Springfield Housing Authority; and Julie Quink, managing partner, Burkhart, Piz- zanelli, P.C. On Sept. 30, “Comfortable in Your Own Skin, Finding Your Voice” will feature Tanisha Arena, executive director, Arise for Social Justice; and Pam Victor, owner, Happier Valley Comedy. On Oct. 28, “Women Leaders in Non-Traditional Businesses”
will be presented by Colleen Loveless, president and CEO, Revitalize Community Development Corp.; and Nicole Palange, vice president, V&F Auto. Each ses- sion costs $20 each, or $50 for the full series. Regis- tration is required. Space for each luncheon is limit- ed to 25. To register, visit hcc.edu/womens-leadership.
Real-estate Licensing Course
Sept. 9 to Oct. 15: The Realtor Assoc. of Pioneer Val- ley will sponsor a 40-hour, 14-class, sales-licensing course to help individuals prepare for the Massachu- setts real-estate salesperson license exam. Tuition
is $400 and includes the book and materials. For an application, call the (413) 785-1328 or visit www. rapv.com. The Realtors Assoc. has taken all neces- sary COVID-19 sanitary precautions in accordance with CDC and Massachusetts Department of Public Health guidelines to ensure the safety of its students. Classes are limited to 18 students.
Agenda
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rely on venture-capital financing. The result has been an increase in the number of provisional licenses being ‘flipped’ as small startups are forced to sell out to simply cover their growing debt.
This trend toward market consolidation has put the CCC’s equity provisions and ownership limita- tions under tremendous strain. The draft revisions address that strain by attempting to close potential loopholes in the restriction. These changes would certainly help align the letter of the law with the spirit of the law, but ultimately, they do not address the actual root of the problem.
In order to build a cannabis industry that is stable, sustainable, and diverse, much more needs to be done to lower the economic barrier of entry, such as establishing a state lending program to provide SE and EE applicants with access to financing, or even just simplifying the licensing process so that appli- cants aren’t forced to submit hundreds of pages of plans, policies, and procedures, only to wait over a year just to obtain a provisional license. But those changes may need to wait for 2021. u
Attorney Isaac C. Fleisher is an associate with
Bacon Wilson, P.C., where his practice is focused on business and corporate law, with particular emphasis on the rapidly expanding cannabis industry. An accomplished transactional attorney, he has broad experience in all aspects of business representation in legal matters ranging from mergers and acquisitions to business formation and financing; (413) 781-0560; [email protected]
Agenda
ing the health of this com- munity with their
skills, compassion, and vision. This exhibit examines that history in Springfield. As stewards of the Bay- state Medical Center archives, including materials from its Training School for Nurses, museum staff were able to gather a rich history of healthcare in Springfield. The Visiting Nurses Assoc. archives are also held at the Wood Museum. Exhibit organizers delved into that collection to share remarkable sto- ries of how visiting nurses traveled to the homes of people of all economic backgrounds to not only treat disease, but also to offer wellness training, child- care advice, and, often, a sympathetic ear. With the World Health Organization’s declaration of 2020 as the International Year of the Nurse and Midwife, the museums dedicate a part of this exhibit to specifi- cally celebrating the city’s nurses. The museums will also present a Wall of Healthcare Heroes to honor the courageous and dedicated work of area hospi- tals’ frontline responders. The Springfield Museums are also grateful for the assistance of Mercy Medical Center and the archives of the Sisters of Providence in documenting the history of their organization.
Revisions
Continued from page 9
controlling
more than three licenses of any type. This restriction is a sub-
stantial departure from the trend in most other states that have legalized a recreational cannabis industry, and it has become a thorn in the side for cannabis investors trying to build a diverse portfolio, as well as for large, multi-state cannabis companies that rely on economies of scale. As a result, more than a few savvy investors and entrepreneurs have utilized creative corporate structures in an attempt to circumvent the limitations on control.
In 2019, the CCC made substantial updates to
its definition of control, making it clear that it was serious about enforcing the three-license cap. The current draft revisions further expand the definition of control by establishing a precise dollar amount
for the types of contracts that would be evidence of control; clarifying that anybody with the power to appoint 50% of the company’s board is in control
of that company, whether the board members are called directors, managers, or anything else; and, in a possible sign of the times, establishing that a person appointed as a receiver for the licensee is in a posi- tion of control.
Additionally, the revisions would redefine the threshold for when control over a parent company constitutes control over the subsidiary. In the cur- rent regulations, anybody “with a controlling interest in” the parent company is considered to have con- trol over the subsidiary, but the revised draft would change this to anybody “having control over” the parent company. This subtle change is potentially
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