WATCH: The City of Langford is opening its doors to cannabis dispensaries but there are strings attached.
The City of Langford is opening its doors to cannabis dispensaries but it comes with caveats.
Applications from interested businesses are now being accepted and there will be a maximum of five dispensaries allowed in the city.
None will be permitted within 500 metres of other cannabis retailers, within 300 metres of schools or group daycares, or within 150 metres of parks.
All will be on temporary-use permits and the city will also be taking a cut of profits, though the exact percentage has not yet been determined.
The money will go to fund policing, education and bylaw enforcement.
"I think we're taking a conservative approach," said Langford Coun. Lillian Szpak. "But I think that we're taking an approach that also provides for opportunity."
James Whitehead, who owns Medijuana Dispensary, plans to apply. The business has locations in Victoria and Sooke
"Having a requirement that you pay some of your proceeds into the community for the privilege of selling cannabis is a creative way for the community of Langford to establish that people who are opening stores care about the community and want to have a positive involvement in the community," said Whitehead.
"If you're deterred by that, then you're not the right person for Langford."
Meanwhile, a new report from CIBC predicts the legal market for adult-use cannabis will approach $6.5 billion by 2020.
The provinces are estimated to capture 70 per cent of industry profits.