The Kern Water Bank is a public-private partnership which oversees a 32-square-mile water recharge basin in California.[1][2] It sources water from the Kern River, the State Water Project, and the Central Valley Project.[3] It stores underground up to 1.5 million acre feet of water (500 billion gallons).[4]
57% of the bank is controlled by Stewart Resnick and Lynda Resnick, the owners of Pom Wonderful and Halos oranges. In 2021, their stake was estimated to be worth over $1 billion.[5]
- ^ "State failed to analyze effects of water bank, judge rules". Los Angeles Times. March 6, 2014.
- ^ Arax, Mark (December 19, 2003). "Massive Farm Owned by L.A. Man Uses Water Bank Conceived for State Needs". Los Angeles Times.
- ^ https://repository.uclawsf.edu/faculty_scholarship/1827/
- ^ Sorvino, Chloe. "Amid Drought, Billionaires Control A Critical California Water Bank". Forbes.
- ^ Director, Bill McEwen, News (November 23, 2021). "Resnicks' Stake in Kern Water Bank Could Be Worth $1 Billion: Forbes".
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