Tax Break Approved For Belleville Cannabis Dispensary
BELLEVILLE - Belleville’s first-ever cannabis dispensary will get a portion of their local taxes paid back to them after City Council members this week unanimously approved a sales tax rebate for the business. Mystic Greenz has a dispensary located at 360 S. Green Mount Road in Belleville. It marks the city’s first-ever cannabis dispensary, joining many other Riverbend communities which have welcomed dispensaries - and their sales tax revenues - in recent years. The company behind this Mystic Greenz location, Indus 365 Belleville LLC, has promised annual cannabis sales of at least $3.5 million in addition to a $1.2 million investment in remodeling the building. They have also agreed to create six full-time jobs and two part-time jobs within a year of opening, as well as operate at the site for at least five years. In return for this projected revenue, and to incentivize the building remodel, the city has agreed to pay the dispensary back one-third of the 3%