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City Council Regular Meeting Minutes February 24, 2026 Page 3 1 statement, and value of municipal liquor operations. He presented the sales and profit 2 comparison of 2025/2024, five-year profit history, consumption trends and outlook, market 3 outlook, and 2025 accomplishments. He encouraged residents to visit the website for more 4 information. 5 6 Councilmember Elnagdy recognized that alcohol sales have been decreasing nationwide and 7 noted that there was not a large decline for the municipal stores. She recognized the work of 8 staff. Mr. Larson commented that he was happy to see the second half of the year rebound. He 9 stated that he believes that alcohol sales will continue to be different from the past, but believed 10 the municipal stores will continue to have success. 11 12 Councilmember Doolan appreciated the leadership of Mr. Larson. 13 14 Councilmember Randle commented that the numbers for the stores have been great for years and 15 admired the leadership provided by Mr. Larson, especially during these changing times. 16 17 Councilmember Jenson recognized the success over the years, which he attributes to the clean, 18 organized, and welcoming stores and staff members. 19 20 Mayor Webster agreed that there is a great culture and sense of belonging when you walk into 21 the liquor stores. She was excited about the vision the team has created for how the stores can be 22 community hubs. She stated that the leadership of Mr. Larson has shown the Council how they 23 can continue to adjust to the trends to continue to serve the community. She also recognized the 24 contribution the liquor stores provide to the general fund. 25 26 C.Retail Cannabis Update 27 28 Liquor Operations Manager Larson shared Minnesota industry news and presented the cannabis 29 sales forecast and an overview of the vision for cannabis and liquor retail. He provided an 30 update on the planned renovations for the Village Muni, Marketplace, and Silver Lake Village 31 cannabis/liquor retail locations, and additional information on the scope, budget, and timeline of 32 the project. 33 34 Councilmember Elnagdy asked for a licensing update. Mr. Larson replied that the low-dose 35 hemp licensing has been secured. He stated that the cannabis licensing continues to move along, 36 and he had no concerns that the City would not receive the license. 37 38 Councilmember Jenson asked if a supply chain has been developed for cannabis. Mr. Larson 39 replied that the City of Anoka and other cannabis businesses have secured supplies. He stated 40 that as stores continue to open, it will be interesting to see if the supply chain can keep up. He 41 noted that currently, the Native Americans are doing most of the cultivation and would most 42 likely supply the store. 43 44 Councilmember Doolan commented that it appears that cannabis is a less costly business to run, 45 compared to liquor, but will only take up one quarter of the store. Mr. Larson replied that there 46 is much more inventory and overhead for the liquor store compared to the cannabis operation. 9