---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-018448"
form_type: "8-K"
ticker: "PW"
cik: "0001532619"
company_name: "Power REIT"
filed_at: "2022-07-05T23:59:59+00:00"
generated_at: "2026-06-24T21:15:53.402553+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Power REIT faces litigation with Marengo Township over cannabis facility licensing; lease rent deferred to Jan 2023

## Summary
- Filed state lawsuit in Calhoun County to compel Marengo Township to allow ZBA hearing on agricultural exemption from building permits and CO requirements.
- Lease amended to push cash rent start to Jan 1, 2023; near-term revenue recognition already on cash basis since Q4 2021.
- Federal action (Case 1:22-cv-00321) underway since April 2022 alleging false promises and constitutional violations by township.
- Cannabis licensing delayed due to township refusal to provide Certificate of Occupancy equivalent; property is 522,530 sq ft acquired for $18.5M.

## SEC filing metadata
- accession: 0001493152-22-018448
- form_type: 8-K
- ticker: PW
- cik: 0001532619
- company_name: Power REIT
- filed_at: 2022-07-05T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1532619/000149315222018448/0001493152-22-018448-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1532619/000149315222018448/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-018448
- JSON: https://secwatch.observer/filing/0001493152-22-018448.json
- Plain text: https://secwatch.observer/filing/0001493152-22-018448.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.