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Around The Valley: HS Rail / Rush To Drill New Wells / Bass Pro On Prowl

June 13,2013
Permits For New Water Wells in County On Pace To Double This Year

Not surprisingly, the drought of 2014 has prompted residential and ag users to seek permits to drill more groundwater wells in the county this year even as most surface water supplies are at record lows. Tulare County Environmental Health department reports that by June 12, the County had permitted 731 new wells including 78 just this month so far. For all last year the County permitted 830 wells,513 in 2012 and 395 in 2011. Fears of  lower groundwater levels and even sinking farm land has pushed the state legislature to call for state oversight on groundwater  that could happen as soon as this year.Subsidence has been noted near Los Banos and Pixley in Tulare County. The impending regulation may be spurring a rush for new permits.

HS Speed Rail To Get State Cap & Trade Monies

Gov. Jerry Brown and the Democrats have now agreed to use 25 percent of future cap-and-trade revenue ,which is money polluters pay to offset their carbon emissions, for ongoing funding for the bullet train in a  budget deal announced this week. The news could mean a permanent state revenue source for the big project amounting to $750 million to $1.25 billion a year. Supporters say that is enough to complete the so called Initial Operating Segment from Merced to Los Angeles that has figured in complaints of critics. Those critics have argued that the CHSRA could not show where funds were coming from  to complete the project beyond Bakersfield, arguing to a judge that this violated Prop 1A. Even after Gov Brown signs  the budget,sources says the plan will be challenged in court.
This week CHSRA chair Dan Richard said 71 companies were working on the rail project with offices in the Central Valley and 47 of these are in the Fresno and Clovis area. Statewide,  8,589 California-based employees were working on the project as of April.

Screen Shot 2014-06-12 at 11.24.38 AMBass Pro Fishing For A Site?

Bass Pro Shops have pulled out of a long delayed shopping center project  in south Bakersfield it was announced earlier this year. Still the Missouri-based sporting goods chain apparently wants a South Valley location a little further from LA. Sources say the big hunting an fishing chain will be touring sites between Fresno and Bakersfield for a possible store location. Their closest store to the north is in Manteca.

Mini Storage Plan Riles City of Visalia

Derrel’s Mini Storage has convinced the County of Tulare to initiate  a general plan amendment to build one of their facilities on farm land just outside the Visalia city limits. The site is almost 20 acres on the north side of Caldwell, 1/2 miles west of Akers. Approval of the plan would rile the City of Visalia who already has some bad blood over plans by the county to allow development on Caldwell and 99, also on Visalia’s doorsteps. The county’s staff report of next weeks BOS meeting says the project would have to score well to meet the guidelines of the Rural Valley Lands Plan. The company owner has been trying to build a mini storage in NW Visalia for years.

How Housing Recovery Helps Mooney

Tulare County’s housing recovery means homeowners have more equity in their homes and are eager to both upgrade and add home furnishings. Fewer homes are underwater with Core Logic reporting a few days ago that nationwide- negative equity share has dropped from 9.8M to 6.3M in the first quarter of 2014.

For April distressed sales in Tulare County made up 24% of all home  sales vs 34% a year ago reports the California Association Of Realtors.

Across the US the homeowners gained $2.2 trillion in home equity last year, a huge gain in personal wealth that continues to ripple through through the economy.

The May City of Visalia building permit report shows that  not only are sales of new homes up 23% so far this year but home remodel permits are up 26% .Meanwhile the sales of goods at both furniture and home furnishing stores hit 6 year high of $8.55 billion in May across the US.

Locally, new furniture stores are opening this year on Mooney with Ashley Furniture set to open in a matter of days and construction underway of $2 million in improvements at the former car showroom  on Mooney now owned by Mor Furniture for Less.

More good news.The median home value in Visalia Metro is $149,800 with home values have up 11.5% over the past year. Zillow predicts they will rise 7.1% within the next year. Meanwhile the number of foreclosed homes has dropped 32% in Tulare County in the past year.

Corner Bakery Cafe Coming To Mooney

Nationwide chain the Corner Bakery Cafe is remodeling a storefront at Packwood Creek shopping Center. On the menu is expected to be everything from  buttermilk pancakes and a roasted pork sandwich with cucumbers and pickled jalapeños. The space is at 4021 S Mooney.

Way Lower Shale Estimate

The federal government’s Energy Information Service has thrown cold water on the prospect of a San Joaquin Valley oil boom in the Monterey Shale. The reserves were downgraded by an amazing  96 percent, from 13.7 billion barrels estimated by a government-funded report in 2011, to just 600 million barrels, the EIA said

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