City of Madison Heights Agenda Packet 2026-06-22
City Weighs Amended Settlement With Artic Fox LLC
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Description
Madison Heights officials recommend amending the 2024 settlement agreement with Artic Fox, LLC to accept a $167,500 lump sum plus $15,000 per year, adjusted for inflation, instead of requiring completion of a grow and processing facility. The revised terms are intended to reflect current marijuana market conditions while maintaining revenue for the City.
Contract Details
Contract Amount
$167,500 lump sum and $15,000 annually
Vendor
ARTIC FOX LLC
Agency
City of Madison Heights, MI
Contract Type
LEGAL
Document Date
June 22, 2026
Renewal Info
Amendment would replace the original obligation to fully build out a grow and processing building with structured payments; ongoing annual payments escalate with inflation as set by the State Tax Commission.
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City of Madison Heights Agenda Packet 2026-06-22
City of Madison Heights Agenda Packet 2026-06-22
City of Madison Heights Agenda Packet 2026-06-22
City of Madison Heights Agenda Packet 2026-06-22
City of Madison Heights Agenda Packet 2026-06-22
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