COMING UP TONIGHT: JOIN US AS WE HIGHLIGHT THE GREATER SYRACUSE LAND BANK AND HOME HEADQUARTERS WITH THEIR EFFORT TO MAKE HOUSING BETTER FOR THE COMMUNITY THEN, SEE HOW OSWEGO HEALTH HAS ADDED THE COBAS 5800 TO THEIR LABORATORY TO MAKE TESTING QUICK AND EFFICIENT AND FOR OUR SPOTLIGHT SERIES WE FEATURE A SPECIAL INTERVIEW WITH OUR J. DANIEL PLUFF TALKING WITH MIKE FLYNN, OWNER OF FLYNNSTONE AND BRAD RACCINO, WRITER FOR CANNABIS INSIDER TO TALK ABOUT THE MARIJUANA INDUSTRY.

♪ ♪ ♪ ♪ GOOD EVENING AND WELCOME TO ON THE MONEY, WCNY'S FINANCIAL AND ECONOMIC DEVELOPMENT PROGRAM - THINK OF IT AS YOUR LOCAL FINANCIAL NEWS PROGRAM FEATURING SOME INTERESTING PEOPLE, BUSINESSES AND HAPPENINGS FROM EVERY CORNER OF CENTRAL NEW YORK.

I'M LAIZA SEMIDEY.

DURING OUR SEASON WE'LL SEE WHERE MONEY IS BEING MADE, SPENT AND SOMETIMES LOST AND FOCUS ON PROJECTS AND ACTIVITIES AFFECTING US LOCALLY.

OUR FIRST REPORT TAKES US TO SYRACUSE.

IF YOU'VE BEEN FOLLOWING US THIS FAR YOU KNOW HOUSING IS A HOT TOPIC ON THIS SHOW.

THE MARKET KEEPS GROWING • AND AFFORDABILITY KEEPS DECREASING • BUT THERE IS STILL HOPE.

TWO LOCAL NONPROFITS ARE REVITALIZING ABANDONED HOMES AND PROVIDING LENDING OPPORTUNITIES TO PEOPLE WHO HAVE HISTORICALLY BEEN DENIED THROUGH TRADITIONAL LENDERS.

TAKE A LOOK AT HOW KATELYN WRIGHT, EXECUTIVE DIRECTOR OF GREATER SYRACUSE LAND BANK AND LATOYA ALLEN, DEPUTY DIRECTOR OF HOME HEADQUARTERS ARE MAKING THIS HAPPEN.

TYPICALLY HOME VALUES HAVE BEEN SO DEPRESSED IN THE CITY OF SYRACUSE, IT DOESN'T MAKE FINANCIAL SINCE FOR SOMEBODY TO BUY AND INVEST THE AMOUNT OF MONEY NEEDED TO RENOVATE AND MAINTAIN A PROPERTY.

>> THE MORE VACANT HOMES THAT YOU DO HAVE IN A NEIGHBORHOOD OR ON A PARTICULAR STREET, YOU MAY SEE INCREASE IN CRIME, YOU MAY SEE A NEIGHBORHOOD WHERE IT'S JUST UNDESIRABLE.

SO THE GREATER SYRACUSE LAND BANK IS A LOCAL PUBLIC AUTHORITY CREATED TO DEAL WITH VACANT AND ABANDONED PROPERTIES AND FACILITATE THEIR RETURN TO PRODUCTIVE USE.

IT COSTS ABOUT $2 MILLION BASELINE TO KEEP THE LAND BANK RUNNING EACH YEAR AND WE RELY HEAVILY ON THE CITY AND COUNTING USED FOR THE BASELINE OPERATIONS AND THEN TO GO ABOVE THAT, WE NEED CAPITAL DOLLARS FOR DEMOLITIONS AN BUILDING STABILIZATION.

>> SO IN JUNE, WE WERE AWARDED A $1.8 MILLION GRANT FROM NEW YORK STATE FROM THE DEPARTMENT OF HOMES AND COMMUNITY RENEWAL AND THAT $1.8 MILLION WILL ENABLE US TO DEMOLISH 36 BLIGHTED HOMES THAT ARE TOO FAR GONE TO BE SAVED, AND THEY'RE DRAGGING DOWN SURROUNDING HOME VALUES.

SO GETTING RID OF THOSE BLIGHTED HOMES WILL HELP STABILIZE THE SURROUNDING VALUES AND WE'VE SOLD 1300 PROPERTIES TO DATE AND THOSE ARE GENERATING ABOUT $2 MILLION A YEAR IN LOCAL PROPERTY TAXES.

WE PARTNER WITH OTHER ORGANIZATIONS TO GET MORE MOVE-IN READY HOMES ON THE MARKET FOR OWNER OCCUPANT BUYERS BECAUSE THAT'S THE GOAL.

WE REALLY WANT TO INCREASE OUR OWNER OCCUPANCY RATE.

HOME HEADQUARTERS IS A CRITICAL PARTNER.

THEY PURCHASE A LOTTED OF CRITICAL HOMES FOR US TO RENOVATE AND PURCHASE VACANT LAND FOR COULD BE INSTRUCTION OF NEW SINGLE-FAMILY HOMES.

>> WE HAVE MANY DIFFERENT PROGRAMS HERE THAT SERVE MANY DIFFERENT PURPOSES.

ONE OF OUR MOST POPULAR PROGRAMS IS OUR FIRST-TIME HOME BUYER EDUCATION COURSE.

YOU ARE LITERALLY TAUGHT EVERYTHING A-Z FOR THE HOME BUYING PROCESS.

ANOTHER PROGRAM HERE IS THE SYRACUSE FINANCIAL EMPOWERMENT CENTER.

IT TEACHES YOU TO BE ABLE TO CREATE A BUDGET AND JUST BECOME MORE FINANCIALLY SOUND AND STABLE FOR YOUR FAMILY OR WHATEVER IT IS YOUR GOAL CAN BE.

WE OFFER MANY DIFFERENT TYPES OF LENDING SERVICES HERE.

WE DO HAVE THE ABILITY TO LOAN OUT TO PEOPLE THAT MAY HAVE A LESS CREDIT SCORE THAN YOU WOULD NORMALLY NEED AT A TYPICAL BANK.

WE ARE SUPPORTED BY HUD.

WE ARE SUPPORTED BY THE CITY OF SYRACUSE.

WE ARE SUPPORTED BY NEW YORK STATE, BY ONONDAGA COUNTY.

WE HAVE A PLETHORA OF PARTNERSHIPS WITH LOCAL BANKS.

AND RIGHT NOW WE SPEND A LITTLE OVER $400,000 ON A NEW BUILD.

BUT BECAUSE WE HAVE SO MANY SUBSIDIES, WE DON'T CHARGE THE HOMEOWNER $400,000 FOR THE HOME.

WE ARE ABLE TO SELL OUR HOMES FOR LESS AND THEY'RE AFFORDABLE FOR FAMILIES HERE.

WE REALLY UNDERSTAND THAT YOU ARE NOT JUST A NUMBER ON PAPER.

OUR GOAL IS TO HELP YOU REACH WHATEVER YOUR GOAL IS, AND THAT'S WHAT WE DO HERE AT HOME HEADQUARTERS.

WE KNOW THE MARKET, WE KNOW THE PEOPLE, WE KNOW THE COMMUNITY.

WE WANT TO BE ABLE TO PUT YOU IN A POSITION TO WHERE YOU CAN THRIVE IN YOUR HOME AND IN YOUR LIFE AND WE HAVE THE TOOLS TO HELP YOU DO IT >> OUR THANKS AGAIN TO KATELYN WRIGHT AND LATOYA ALLEN UP NEXT IS OUR COMMON CENTS AND JOINING US TONIGHT IS VICKI BRACKENS, PRESIDENT & FINANCIAL PLANNER AT BRACKENS FINANCIAL SOLUTIONS NETWORK, LLC.

SO I'M BRINGING YOU ON BECAUSE IT HAS GOTTEN VERY EXPENSIVE TO JUST LIVE LIFE.

AND MY QUESTION TO YOU IS WHY IS IT SO EXPENSIVE TO BE SINGLE?

>> ONE OF THE KEY THINGS THAT YOU HAVE TO REALIZE IS THAT WHEN YOU ARE SINGLE, THE RESPONSIBILITY FOR EVERYTHING IS YOURS AS FAR AS ALL OF YOUR FINANCIAL OBLIGATIONS AND EXPENSES.

BECAUSE OF THAT, YOU PROBABLY ARE GOING TO SPEND ANYWHERE FROM 6 TO $9,000 MORE PER YEAR ON THE SAME THING THAT A MARRIED COUPLE OR TWO PEOPLE LIVING TOGETHER WOULD BECAUSE YOU ARE PAYING FOR EVERYTHING YOURSELF.

SO, YOU KNOW, UNFORTUNATELY, YOU GET THE GOOD WITH THE BAD.

THERE IS NICE, YOU KNOW, FREEDOM IN BEING SINGLE.

BUT THAT FREEDOM COMES WITH A COST.

>> IT SURE DOES.

WITH THAT BEING SAID, IS THERE A BENEFIT TO BEING MARRIED OR HAVING SOMEONE IN YOUR HOUSEHOLD?

>> WELL,THE TAX LAWS SAY SO.

>> OKAY.

>> BECAUSE THE FIRST THING YOU SHOULD NOTICE IS THAT WHEN YOU ARE LOOKING AT THE TAX LAWS RELATIVE TO BEING MARRIED, A FEW YEARS AGO, BACK IN I THINK IT'S LIKE 2017, THEY CORRECTED ONE OF THE ISSUES AS FAR AS THE MARRIAGE PENALTY SO THAT NOW THERE IS A LURING OF THE EXPENSE AS FAR AS YOUR TAXES ARE CONCERNED IN BEING MARRIED.

AS A SINGLE INDIVIDUAL NOW, YOU ARE ACTUALLY PAYING ABOUT 40% MORE IN TAXES THAN A MARRIED COUPLE WOULD.

I KNOW THAT-- I'M SORRY.

THAT'S THE IMPACT OF THAT.

SO-- BUT THE OTHER THING IS THIS.

SOME OF THE DEDUCTIONS YOU HAVE AS FAR AS CHILD CARE CREDITS AND THINGS OF THAT NATURE ARE ALSO MORE IMPACTFUL AS A MARRIED COUPLE.

AND THE THIRD THING THOUGH IS AT FACT THAT AGAIN, YOU ARE SHARING EXPENSES AND THAT SHARING OF EXPENSE MAKES IT MUCH EASIER TO LIVE AND, YOU KNOW, ONE OF THE THINGS THAT WE DON'T TALK ABOUT A LOT IS THE ACCOUNTABILITY ISSUE.

AS A SINGLE INDIVIDUAL, WHEN YOU ARE TRYING TO STAY ON BUDGET, WHO ARE YOU ACCOUNTABLE TO?

AS A PERSON WHO HAS A PARTNER OR A MARRIED COUPLE, YOU HAVE SOMEONE THERE AS YOUR ACCOUNTABILITY PARTNER.

>> THAT'S RIGHT.

REALLY QUICKLY.

WHAT ARE SOME THINGS AS SINGLE PEOPLE WE SHOULD LOOK AT AS FAR AS FINANCIALS AND BUDGETING?

>> I ALWAYS FOCUS ON A COUPLE OF THINGS.

ONE IS YOUR CASH FLOW, AS FAR AS ARE LIQUIDITY SHOULD BE HIGHER.

IF YOU DON'T HAVE GREAT DISABILITY COVERAGE, THERE IS NO ONE YOU CAN DEPEND ON IF YOU ARE OUT FROM WORK BECAUSE YOU ARE DISABLED.

SO PAY ATTENTION TO YOUR DISABILITY COVERAGE.

AND THE THIRD THING IS WHAT I WOULD CALL COLLECTIVE PURCHASING.

>> OKAY.

>> PURCHASE WITH OTHERS IN BULK AND DIVIDE AND THEN WOULD YOU GET THE BENEFITS OF COLLECTIVE PURCHASING.

>> GOT IT.

SO WE ARE GOING TO COSTCO AS A FAMILY AND BUYING IN BULK.

GOT IT.

>> BUY IN BULK.

>> THANK YOU VERY MUCH FOR COMING ON TONIGHT VICKI BRACKENS, I'M DELIGHTED TO HAVE YOU HERE OUR THANKS AGAIN TO VICKI BRACKENS, PRESIDENT & FINANCIAL PLANNER AT BRACKENS FINANCIAL SOLUTIONS NETWORK, LLC FOR JOINING US TONIGHT TO DISCUSS WHY IT IS SO EXPENSIVE TO BE SINGLE, THANK YOU!

SWITCHING GEARS TO OUR TECH BYTES SEGMENT • OSWEGO HEALTH IS ONLY 4 IN THE NATION TO OWN THE COBAS 5800 SYSTEM, WHICH ALLOWS FOR PCR TESTING SUCH AS COVID-19 AND OTHER INFECTIOUS DISEASES IN A SHORTER TIME PERIOD.

WATCH HOW THEY ARE HELPING THE COMMUNITY ONE TEST AT A TIME.

OSWEGO HEALTH IS A FULL HEALTHCARE SYSTEM THAT SERVICES ALL THE COUNTY, AND WE HAVE TWO URGENT CARES IN THE HOSPITAL HERE IN OUR LAB SERVICES THE WHOLE COUNTY.

>> THE COBAS 5800 IS OUR NEWEST ANALYZER THAT WE USE TO TEST COVID AND GONORRHEA AND CHLAMYDIA.

THOSE ARE THE TWO TESTS WE ARE RUNNING ON IT.

IT HAS THE CAPABILITY TO DO MORE TESTING BUT AT THIS POINT WE ARE JUST RUNNING THOSE TWO.

IT'S REALLY MUCH SIMPLER THAN PREVIOUS METHODS.

SO THE SPECIMEN COMES IN.

WE PUT A SMALL AMOUNT OF THE LIQUID IN A TUBE.

WE LABEL IT.

YOU PUT IT IN A RACK THAT SLIDES INTO THE MACHINE.

IT READS THE LABEL.

IT KNOWS WHAT TO DO WITH IT.

THE PROCESS HAPPENS IN TWO AND A HALF HOURS AND THE RESULTS COME UP ON THE SCREEN.

WE SEND THEM OVER TO THE COMPUTER.

THAT'S IT.

THE PREVIOUS VERSION YOU HAD TO PUT THE SPECIMENS ON ONE PART AND THEN WHEN A CERTAIN TIME PERIOD WAS UP, YOU HAD TO TAKE THEM OFF AND MANUALLY TAKE THEM TO THE OTHER PART AND PUT THEM ON.

THIS IS ALL IN ONE ANALYZING.

WHEN YOU PUT THEM IN, IT STAYS THIS THERE AND GOES THROUGH THE ENTIRE PROCESS UNTIL FINISHED.

IT'S A LOT FASTER THAN THE PREVIOUS ANALYZERS WE USED TO USE.

IT USED TO TAKE ME FIVE HOURS TO PUT OUT A COVID RESULT, NOW CAN I DO IT IN TWO AND A HALF HOURS AND AT THE SAME TIME.

>> WE HAVE SEEN LATELY A SHORTAGE IN PLACE SO WE ARE TRYING TO REFINE OUR PROCESSES AND FIGURE OUT HOW WE CAN DO MORE WITH LESS.

THE COBAS 5800 IS CAPABLE OF DOING.

WE ARE ABLE TO RESULT 144 SAMPLES.

RIGHT NOW WE ARE ONLY RUNNING THE COBAS 5800 ON THE DAY SHIFT, BUT ONCE WE GET ROLLING, IF WE GET INCREASE IN WORK LOAD, IT IS CAPABLE OF PRODUCING 547 RESULTS IN A DAY.

THE INSTRUMENTth WAS ABOUT $200,000 AND REAGENTS COST US APPROXIMATELY $100 EACH YEAR.

BECAUSE-- $100,000 EACH YEAR.

BECAUSE OF THE EFFICIENCY OF THE 5800, THE HEALTHCARE SYSTEM THOUGHT IT WAS A GOOD INVESTMENT FOR US AND FOR THE COMMUNITY.

WE WORKED FOR MONTHS TRYING TO NEGOTIATE AND GET PRICING AND WORK TOWARDS THE PURCHASE OF THE ANALYZER.

THE 5800, I LIKE TO REFER TO IT AS THE BABY SISTER.

IT'S SMALL AND IT'S COMPACT AND GOOD FOR THE SIZE OF OUR LABORATORY.

THE OTHER TWO, THE 6800 AND 8800 WERE LARGE INSTRUMENTS THAT NEVER WOULD HAVE FIT INTO OUR LAB.

I HAVE BEEN EMPLOYED HERE FOR 35 YEARS.

TECHNOLOGY DEFICIT IT IN GENERALLY HIVE DEFINITELY HAS CHANGED OVER THE YEARS IN THE LABORATORY.

WE ARE CONSTANTLY LOOKING FOR WAYS TO IMPROVE OUR PROCESSES AND TO BE ABLE TO PROVIDE RESULTS IN A TIMELY FASHION AND QUALITY RESULTS.

>> TONIGHT FOR BY THE NUMBERS WE ARE TALKING ABOUT TAXES.

NEW THIS YEAR, THE US FEDERAL INCOME TAX CODES ARE 10%, 12%, 22%, 24%, 32%, 35%, AND 37% THERE ARE SEVEN TAX RATES.

EACH APPLY TO A RANGE OF TAXABLE INCOME, A.K.A.

TAX BRACKET.

REMEMBER TAXABLE INCOME IS YOUR GROSS INCOME MINUS THE VARIOUS TAX BREAKS YOU'RE ELIGIBLE FOR.

SO AS AN EXAMPLE YOU'RE SINGLE AND MAKE $100,000 A YEAR IN 2024 BUT YOUR TAXABLE INCOME TRULY COMES OUT TO $75,000.

THE FIRST $11,600 WILL BE TAXED AT 10% YOUR TAXABLE INCOME BETWEEN $11,600 AND $47,150 WILL BE TAXED AT 12% AND YOUR TAXABLE INCOME BETWEEN $47,150 AND $75,000 WILL BE TAXED AT 22%.

ARE YOU FOLLOWING HERE?

THESE NUMBERS WILL BE RELEVANT TO THE TAX RETURN YOU WILL FILE IN EARLY 2025.

I HOPE THAT WAS INSIGHTFUL BECAUSE THESE ARE YOUR NUMBERS FOR TONIGHT WE CONTINUE NOW WITH OUR SPOTLIGHT SERIES WITH J DANIEL PLUFF WHERE WE HIGHLIGHT BUSINESSES AND PEOPLE DOING SOMETHING SPECIAL IN OUR AREA.

AFTER ENDLESS DEBATE, NEW YORK STATE HAS LEGALIZED THE SALE OF CANNABIS AND CANNABIS RELATED PRODUCTS.

LICENSES ARE BEING GRANTED TO THOSE WHO MEET CERTAIN QUALIFICATIONS SO THEY CAN ESTABLISH RETAIL STORES.

BUT QUALIFYING FOR A LICENSE HAS BEEN A QUIRKY PROCESS, AND MANY INDIVIDUALS WHO HAVE BEEN GRANTED ONE ARE STILL PROHIBITED FROM OPENING A STORE.

TO SAY THE LEAST, THE PROCESS, OR ROLLOUT, HAS BEEN ANYTHING BUT SMOOTH.

AT STAKE IS CONSIDERABLE REVENUE - SOME ESTIMATES PROJECT IT TO BE OVER $60 BILLION BY 2028 AND NEW YORK IS EAGER TO COLLECT TAXES ON THOSE SALES.

OUR DANIEL PLUFF MET WITH BRAD RACINO WHO HAS WRITTEN EXTENSIVELY ON THE TOPIC FOR SYRACUSE.COM AND MIKE PLIN, OWNER OF FLYNNSTONEED, THE FIRST RETAIL OWNER TO OPEN IN SYRACUSE IT WAS AN INTERESTING DISCUSSION ON THIS NEW - AND GROWING - INDUSTRY.

>> THANK YOU FOR HOSTING US TODAY, MIKE, AND BRAD, THANK YOU FOR JOINING US.

BRAD, I JUST WANT TO KICK THINGS OFF WITH YOU, IF I COULD, WITH, YOU KNOW, JUST A LITTLE BACKGROUND ON KIND OF AN UNUSUAL INDUSTRY THAT WE HAVE HERE.

I GUESS FIRST CALIFORNIA, COLORADO GOT INTO THE WHOLE LEGALIZATION OF CANNABIS, MARIJUANA, NOW NEW YORK.

SO WE ARE FOLLOWING THEIR FOOTSTEPS, I TAKE IT?

>> YEAH, THIS HAS BEEN, I THINK, A LONG TIME COMING.

THERE HAS BEEN NEW YORK ADVOCATES FOR YEARS AND YEARS WHO HAVE ASKED FOR LEGALIZATION, MEDICAL MARIJUANA WAS LEGALIZED WAY BACK IN 2014, I BELIEVE.

BUT THE PUSH FOR RECREATIONAL HAS BEEN A LONG TIME COMING AND ONCE GOVERNOR CUOMO SIGNED THIS BILL, NEW YORK KIND OF TOOK A LOOK AT THE OTHER STATES AND SAID THEY WERE GOING TO TAKE SOME LESSONS FROM THEM AND THEN SEE WHAT WENT WRONG.

>> WE'LL GET TO MIKE IN A SECOND.

BUT PEOPLE LIKE MIKE REQUIRE A LICENSE FROM THE STATE, RIGHT?

YOU NEED A STATE'S BLESSING AND LICENSE.

HOW DOES ONE GET THE LICENSE AND, YOU KNOW, WHAT REQUIREMENTS ARE NECESSARY FOR THAT?

>> IT DEPENDS ON WHAT KIND OF LICENSE.

IF YOU ARE TALKING ABOUT A DISPENSARY LICENSE, RIGHT NOW THE GENERAL APPLICATION PERIOD IS OPEN FOR RETAIL DISMEN'SRY LICENSE.

PEOPLE ARE ACTIVELY APPLYING.

WE EXPECT TO SEE THOUSANDS UPON THOUSANDS OF APPLICANTS BUT THERE IS A LIMITED NUMBER OF LICENSES AVAILABLE AT THIS POINT IN TIME.

WE BELIEVE THAT NEW YORK STATE WILL OPEN UP AGAIN IN THE FUTURE FOR MORE LICENSE TYPES, BUT RETAIL BASICALLY ANYBODY CAN APPLY.

NOW WHEN IT COMES TO DIFFERENT OTHER TYPES OF LICENSES, THERE MAY BE OTHER KINDS OF LIMITATIONS.

>> IF I APPLIED, AND WAS SUCCESSFUL IN GETTING A LICENSE, COULD I OPEN A SHOP RIGHT NEXT DOOR TO MIKE?

ARE THEY MONITORING THE COMPETITION IN SOME WAY?

>> THERE ARE SETBACKS.

SO HAVE YOU TO BE A CERTAIN DISTANCE FROM OTHER RETAILERS, FROM PLACES OF WORSHIP, FROM SCHOOLS, THINGS LIKE THAT.

SO THOSE ARE CALLED BUFFER ZONES AS WELL.

THOSE ARE VERY CONTENTIOUS AT THIS POINT IF TIME, ESPECIALLY FOR AREAS LIKE LONG ISLAND, WHERE THERE IS NOT A LOT OF REAL ESTATE AVAILABLE.

>> SO MIKE, YOU KNOW, I ALWAYS LIKE TALKING TO FOLKS WHO START THEIR OWN BUSINESS, YOU KNOW, RUNNING THEIR OWN COMPANY AND WHAT NOT.

WE'LL TALK ABOUT SOME OF THE HURDLES HERE BUT HOW WAS THE PROCESS FOR YOU FROM GETTING THE IDEA TO GETTING THE LICENSE TO GET GOING.

WAS IT A LONG, DRAWN OUT AFFAIR OR WAS IT PRETTY STRAIGHTFORWARD?

>> IT WAS A PRETTY LONG, DRAWN OUT AFFAIR.

YOU KNOW, I GOT GOING RIGHT AWAY RIGHT WHEN THE GOVERNOR SIGNED THAT BILL, I WAS WORKING THE NEXT DAY ON GETTING THIS STARTED.

TO THE POINT WHERE I GOT IT STARTED AND I GOT IT FINISHED AND THEN I SAT VACANT FOR OVER A YEAR BEFORE I GOT THAT LICENSE.

>> WITHOUT OPENING YOUR BOOKS TO ME, I GUESS MY QUESTION IS HOW IS BUSINESS SO FAR?

FOUR MONTHS YOU HAVE BEEN OPERATING, FOUR OR FIVE MONTHS.

ARE SALES UP TO YOUR EXPECTATIONS SO FAR?

>> YEAH, I JUST RAN THE REPORT THIS MORNING AND WE ARE OVER 10 MILLION IN THE FOUR MONTHS WE HAVE BEEN OPEN.

>> THAT'S ENORMOUS.

>> YEAH.

>> SO AGAIN, EXCEEDING EXPECTATIONS.

SO FORGET THAT IT TOOK SO LONG TO GET HERE.

YOU ARE HAPPY NOW, I TAKE IT.

>> I'M HAPPY NOW.

THAT'S FOR SURE.

>> I DON'T BLAME YOU.

DISCUSS, IF YOU CAN, MIKE, FOR THE UNINITIATED, YOU KNOW, WHAT IS FOR SALE HERE?

WHAT IS THE PRODUCT LINE LOOK LIKE?

>> WELL, WE'VE GOT FLOWER THAT YOU CAN SMOKE.

WE'VE GOT VAPES.

EDIBLES, TINCTURES.

>> WHAT IS THE MOST POPULAR.

>> FLOWER.

GREEN BUD.

>> SMOKE.

>> YEP.

>> YOU KNOW, WE TALK A LOT ABOUT MONEY ON THIS SHOW SO LET ME TALK TO YOU ABOUT MONEY FOR A SECOND.

I SAW SOMEWHERE NEW YORK STATE WAS GOING TO ISSUE BONDS, $150 MILLION, I THINK OF REVENUE THEY WANTED TO RAISE TO HELP PROMOTE THIS.

THE STATE I THINK WAS GOING TO KICK IN ANOTHER $50 MILLION SOMEWHERE.

MY MATH $200 MILLION.

IN TERMS OF THE STATE BUDGET, NOT A TON OF MONEY, BUT $200 MILLION.

WHERE IS THE MONEY?

>> THAT'S A GREAT QUESTION.

NOBODY KNOWS.

>> YOU ARE JOINING.

>> NO.

THIS IS REALLY REALLY COMPLICATED.

I WON'T TRY TO GET INTO THE MI MINUTIA BUT THERE IS A DIFFERENT AGENCY THAT IS RESPONSIBLE FOR FINDING A FUND MANAGER TO RAISE THIS MONEY AND THEN OVERSEE IT AND BUILD THESE CARDS DISPENSARIES.

THEY DID RAISE $150 MILLION.

STATE KICKED IN 50.

TO THIS DATE WE THINK THERE HAVE BEEN AROUND $30 MILLION SPENT.

BUT WE HAVE NO IDEA WHAT IS GOING ON WITH THE REST OF THE MONEY.

THE PEOPLE WHO HAVE CARD DISPENSARIES CAN'T GET SAWNSES TO WHAT IS GOING ON WITH THE MONEY, THERE HAS BEEN NO LOANS GIVEN OUT FROM THIS FUND.

IT'S A GIANT MESS.

WE HAVE BEEN LOOKING INTO IT FOR A YEAR.

WE CAN'T GET ANSWERS.

>> THAT'S MILDLY DISTURBING.

JUST TO HEAR THAT.

BUT OKAY, LET'S MOVE OFF THAT.

YOU KNOW, MIKE, DID YOU RECEIVE ANY ASSISTANCE FROM THE STATE TO GET THIS PLACE UP AND RUNNING?

>> NO.

AND THEY KNEW THIS PLACE WAS JUST AS IT SITS FOR A YEAR AND A HALF BEFORE THEY GAVE ME THE LICENSE.

>> HERE YOU HAVE THE STATE SAYING OKAY, BUT THE FEDERAL GOVERNMENT WAS STILL KIND OF OPPOSED.

AND THE FEDERAL GOVERNMENT OVERSEES BANKING.

I KNOW THAT MUCH, RIGHT?

FDIC AND WHAT HAVE YOU.

SO CAN YOU WORK WITH BANKS, CAN YOU DEPOSIT INTO AN FDIC INSURED ACCOUNT CASH AND THE BANKS WILL WORK WITH YOU NOW BECAUSE THAT I THOUGHT WAS SO CUMBERSOME.

>> THE MONEY HAS TO GET PICKED UP FROM AN ARMORED TRUCK AND GO TO THE FED, WHICH IS IN NEW JERSEY.

SO I CAN'T JUST WALK ACROSS THE STREET AND DEPOSIT INTO AMERICU WHICH IS THE BANK WE ARE GOING THROUGH.

HAVE I TO HAVE IT PICKED UP FROM HERE AND SHIPPED TO THERE, WHICH IS VERY EXPENSIVE, LET ME TELL YOU.

>> HOW BIZARRE IS THAT.

>> IT IS BIZARRE BECAUSE THERE IS SO MUCH COST TO THAT, THEY CHARGE PER MINUTE WHILE THEY'RE HERE.

THE SERVICE FEE IN THE FIRST PLACE.

>> HAVE YOU TO PAY FOR SECURITY, I WOULD THINK.

>> YEAH, JUST THE WHOLE PROCESS AND ME HAVING TO STORE IT.

>> SO THERE IS STILL THAT KIND OF WEIRD WALL BETWEEN YOU AND THE FEDERAL SIDE OF BANKING.

>> YES.

>> IS THAT GOING TO CHANGE?

>> I HAVE NO IDEA.

>> COME ON.

>> I ONLY CONCENTRATE ON NEW YORK.

THERE ARE OTHER EXPERTS WHO WILL TALK ABOUT THE LIKELIHOOD OF SAFE BANKING PASSING.

>> ISN'T IT A CASE WHERE-- AND AGAIN, I'M OUTSIDE LOOKING IN, BUT THE FEDERAL GOVERNMENT ISN'T REALLY WORKING WITH THE STATE GOVERNMENT.

AND EVEN LOCALITIES-- LIKE I READ WHERE CERTAIN TOWNS OR VILLAGES DON'T WANT A RETAIL STORE.

EVERYBODY IS SORT OF NOT CONNECTED.

>> YEAH THERE IS MORE THAN HALF OF THE LOCALITIES IN NEW YORK STATE OPTED OUT OF RETAIL AND ON SITE CONSUMPTION WHEN THIS STARTED.

SO IT'S DISCONNECTED.

>> SO I'M JUST PUSHING THIS BECAUSE IF I WAS MIKE, THIS WOULD GIVE ME A HEADACHE.

IF WE ONLY HAVE 30 STORES IN THE STATE RIGHT NOW ON OUR WAY TO MAYBE A COUPLE HUNDRED?

I DON'T KNOW, MAYBE 300 OR 400.

>> THEY EXPECT MORE THAN 1500 I THINK AT SOME POINT.

>> THEN AT SOME POINT THAT HAS TO CHANGE BECAUSE YOU CAN'T HAVE THESE ARMORED TRUCKS GOING BACK AND FORTH WITH MONEY.

THE FEDERAL GOVERNMENT SHOULD RECOGNIZE THE BUSINESS, NO?

>> I MEAN THAT'S UP TO THEM, BUT, YEAH, YOU KNOW, IT'S A SECURITY RISK.

THERE HAVE BEEN UNBELIEVABLE AMOUNTS OF BREAK-INS AND ROBBERIES IN CALIFORNIA.

WE HAVE SEEN THIS OVER THE LAST DECADE OR SO AND IT'S CALLED SAFE BANKING THIS THING THEY'RE TRYING TO PASS BECAUSE OF THE RISK TO RETAILERS AND OTHERS WHEN IT'S A CASH ONLY BUSINESS.

IT JUST MAKES SENSE.

THEY'RE TAXED BY THE STATE FOR EVERYTHING.

>> THAT'S WHAT I'M SAYING.

THE STATE WANTS IN, I GET IT BECAUSE THERE IS TAX REVENUE TO BE HAD.

OKAY, GOOD.

BUT IT'S EITHER A LEGIT BUSINESS OR IT ISN'T.

I'M SURE IT HAS TO BE FRUSTRATING.

>> IT'S DEFINITELY FRUSTRATING BUT WHAT IS EVEN MORE FRUSTRATING WITH BAIJING IS THE FACT THAT THE BANKS WILL NOT GIVE LOANS OUT.

SO LIKE THE BUILDING, I HAD TO PAY CASH FOR THE BUILDING.

COULDN'T GET A MORTGAGE ON A PIECE OF REAL ESTATE.

>> THAT IS JUST WEIRD BECAUSE YOU CAN PROVE IT SOME WAY WITH A GOOD BUSINESS MODEL BUT THE WHOLE STATE VERSUS FED IS PROBABLY MESSING YOU UP.

>> YEP.

>> LET'S END HERE.

CHALLENGES ASIDE, OBVIOUSLY BUSINESS IS GOOD CHT WHERE DO YOU SEE THIS GOING.

IS THERE ANOTHER PHASE TO WHAT YOU ARE DOING?

WHAT IS THE NEXT STEP?

>> NEXT STEP FOR ME IS TO KEEP ON BUILDING THESE AND I MEAN THE STATE SAYS RIGHT NOW I CAN ONLY HAVE-- >> CAN YOU HAVE MORE THAN TWO FRANCHISES?

>> THEY SAID I COULD HAVE UP TO THREE BUT THAT'S A WHOLE OTHER STORY.

THEY'RE NOW NOT ALLOWING ME TO-- THE BLUEPRINT IS RIGHT THERE.

I'M READY TO BUILD ANOTHER DISPENSARY NOT TOO FAR AWAY RIGHT NEXT TO THE FAIRGROUNDS.

I'M GOING TO DEVELOP AN OLD GOLF COURSE THAT USED TO BE THERE AND I WENT TO FILL OUT THE APPLICATION AND THEY SAID I COULDN'T FILL OUT THE APPLICATION BECAUSE I HAVE A CAURD LICENSE AND I FILLED OUT THE APPLICATION FOR THE REAL LICENSE.

I WANT TO GET BUILDING THIS THING AND IT'S JUST SO FRUSTRATING.

>> SAME QUESTION TO YOU, BRAD.

FROM YOUR PERSPECTIVE, THIS IS A GROWTH INDUSTRY?

DOES THE NAFLT RUN WEAR OFF?

DOES THE STATE RUIN IT?

>> IT'S A LEGITIMATE VIABLE INDUSTRY IF ANY STATE WOULD GET OUT OF ITS OWN WAY.

WE HAVE SEEN THIS TIME AND AGAIN AND NEW YORK IS DOING IT AGAIN.

THEY'RE MAKING IT NEARLY IMPOSSIBLE FOR PEOPLE LIKE MIKE AND OTHERS TO RUN A BUSINESS.

IT'S LIKE RED TAPE AFTER RED TAPE AND THEN WHEN PEOPLE LIKE MIKE AND OTHERS WANT BASIC ANSWERS TO BASIC QUESTIONS, THEY CANNOT GET ANSWERS.

LIKE AGAIN, THE MOST BASIC QUESTIONS.

SO WE HAVE BEEN SEEING THIS SINCE THE INSENGS OF THIS INDUSTRY AND WE HAVE TRIED TO MAKE IT OUR JOB TO GET THE ANSWERS FOR PEOPLE AND PUT IT IN PRINT BUT THEY'RE BEYOND FRUSTRATED.

EVERYONE FROM THE GROWERS, PROCESSORS, RETAILERS.

EVERYONE IS FRUSTRATED HERE IN NEW YORK.

>> IT'S A FRUSTRATING INTERVIEW QUITE FRANKLY.

BUT I APPRECIATE YOUR COVERAGE ON THIS AND MIKE, CONGRATULATIONS TO YOU.

I MEAN STATE ASIDE, THINGS LOOK GOOD.

SO GOOD FOR YOU.

THANKS FOR YOUR TIME, GUYS.

APPRECIATE IT.

>> THANK YOU VERY MUCH.

>> OUR THANKS AGAIN TO MIKE FLYNN AND BRAD RACCINO FOR THEIR TIME WITH US • THAT'S OUR PROGRAM FOR TONIGHT!

NEXT WEEK WE HIGHLIGHT THE WORK OF COMMUNITY ACTIONS PROGRAM.

THEN WE EXPLORE THE COLD WITH BLUEFORS CRYOCOOLERS.

AND FOR OUR SPOTLIGHT SERIES J. DANIEL PLUFF SITS DOWN WITH ELIZABETH DUNBAR DIRECTOR AND CEO OF THE EVERSON MUSEUM OF ART TO TALK ABOUT THE FUTURE OF ART IN NEW YORK STATE.

WE HAVE A LOT MORE COMING THIS SEASON SO IF YOU HAVE AN IDEA FOR A BUSINESS, PERSON OR JUST SOMETHING SPECIAL HAPPENING IN CENTRAL NEW YORK, CONTACT US BY EMAILING NEWS@WONS.ORG.

TO FIND OUT MORE ABOUT THE PROGRAM, VISIT OUR WEBSITE AT WCNY.ORG/"ON THE MONEY."

YOU CAN ALSO VIEW OUR PREVIOUS EPISODES THERE TOO.. AND YOU CAN FOLLOW US ALL OF OUR SOCIAL MEDIA PLATFORMS, AS WELL.

I'M LAIZA SEMIDEY, THANKS AGAIN FOR WATCHING.