Thursday, December 20, 2018

Harvard University’s endowment is buying up vineyards in California’s wine country, and the water rights

Harvard is using a wholly owned subsidiary named Brodiaea after the scientific name for the cluster lily —to buy vineyards. They have bought 10,000 acres in Santa Barbara and San Luis Obispo counties for about $60 million, according to an earlier report by Reuters. Harvard Crimson has indicated that they have bought even more land in California. They have targeted vineyards with ground water access. Water rights and uses are becoming prime needs for California’s central valley after long drought years. Some aquifers have reach critical levels. Antelope Valley is an area where water is at a premium. If you’re within the city limits than you may not have a problem other that higher rates from municipalities. If you have water rights in LA County with water shares to Mutual water companies, or a well on the property then you are in good hands. Harvard sees something in this area to invest over $60 million in California land. If you don’t have water rights or access than this investment maybe something to consider. Harvard being liberal minded takes into account global warming in their investments, but water access doesn’t need warming. Water is a commodity and maybe worth more than gold as the state grows in population. While some local farmers say they aren’t worried about Harvard’s purchases of vineyards, others—as well

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