Why does the County need a new building for its retirement plan? What a waste of taxpayer money!
Taxpayer dollars down the drain:
The board of the Kern County Employees' Retirement Association approved the purchase of 1.25 acres of ground across from the Park at River Walk Wednesday for the construction of new offices.
Escrow on the land is expected to close on Dec. 2, said Dan Robinson of American Realty Advisors, who handled the transaction for KCERA.
The land cost somewhere around $800,000 said KCERA boss Ann Holdren. Efforts are underway to hire an architectual firm to design the new office and a contractor to build it.
Currently KCERA inhabits offices on the first floor of the Kern County Administrative Center on Truxtun Avenue.
No surprise on the next story, the city has been behind the curve for sometime on the coming tsunami of declining tax revenues.
Hit with declining revenue, city officials have frozen more than 100 jobs.
“But that’s not nearly enough to deal with the situation that we face,” City Manager Alan Tandy told the City Council Wednesday. The city’s sales tax has declined, and the city now expects to bring in $2.1 million less in sales tax than it budgeted for just six months ago, said Finance Director Nelson Smith.
And sinking property values have led to zero growth in property taxes, with an expected decline next year, Smith said.
The city will also stop setting aside money for its future health-care liabilities, Tandy said. But that saves the city a total of about $8 million — and the city needs to cut about $14 million.