BAKERSFIELD, Calif. - Kern County 4th District Supervisor David Couch is proposing to take 1% of KCERA money and invest it in local real estate.
The objective of the initiative is to create within the Kern County Employee's Retirement Association the structure and capacity to invest locally in business ventures that achieve a desired rate of return and manage those investments over time.
Categories of local investment could include agriculture, energy, commercial and residential real estate.
KCERA is a portfolio worth $3.2 billion. Couch said if just 1% could be allocated for local investments, he could see up to $100 million pumped into the local economy in the next 10 years.