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Making Wine out of Water

SAN FRANCISCO—The news isn't all bad; the commercial real estate industry can use times of drought to create efficiencies and seize new opportunities, says Manatt, Phelps & Phillips in this EXCLUSIVE commentary.

By Kristina Lawson and Michael Polentz at law firm Manatt, Phelps & Phillips, LLP | Updated on April 28, 2014

SAN FRANCISCO—With the State of California facing one of its driest years on record, earlier this year Governor Jerry Brown proclaimed a State of Emergency directing state officials to take all necessary actions to prepare for severe drought conditions. The proclamation noted that California’s water supply had dipped to “alarming levels” presenting “urgent problems.” 

While the present drought has significant statewide economic implications, those implications are most commonly correlated to California’s agricultural industries. The Public Policy Institute of California reports that large cuts in crop acreage will be unavoidable, with some farmers forced to cut back on high revenue fruit, vegetable, and nut crops. 

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