Editor’s note: An earlier story inaccurately reported that Megan’s Organic Market was seeking a license to grow.

Megan’s Organic Market, a marijuana retail company based in San Luis Obispo, Calif., is hoping to bring its retail store operation to Rochester.

The company hopes to locate on an undeveloped lot in the Rochester Commons development, directly adjacent to Interstate 495 near the Wareham line.

Megan’s Organic Market reports in their proposal to the town that they “have entered into an agreement with the owner to develop this property and lease a 3,000 square foot retail building.”

The site will have 20 parking spaces and two electric vehicle charging stations.

Their proposal to Rochester’s town government seeks a host agreement with the town, which is a contract that is negotiated between the town and a marijuana establishment that includes the terms necessary for the establishment to operate.

The Rochester branch of the business, Megan’s Organic Market Rochester LLC, is owned in part by two Massachusetts residents.

Ten percent is owned by Rebecca Levesque, a marketing executive from Freetown, and five percent is owned by Kenneth Steen of Steen Realty and Development Corporation in Dartmouth.

The remaining 85 percent is owned by Megan’s Organic Market shareholders, who are based in California.

If Megan’s Organic Market is permitted to open a storefront in Rochester, they have committed to employing only Southeastern Massachusetts residents, giving “preferential hiring to Rochester residents.”

They also state that they will establish a “community fund” and will commit 1 percent of net sales to support it quarterly. They will establish a Community Advisory Board consisting of Rochester residents, consulting with the town when seeking members, who will discuss the best use of funds.

This is in addition to the 3 percent community impact fee that the town can collect from their total sales.