A Tejon Ranch sign stands near the site of the Tejon Ranch Outlets retail project before it was built.

Tejon Ranch Co. has paid $70 million in cash to acquire full ownership of Tejon Mountain Village LLC, the 26,000-acre resort-style residential community it has been developing near Lebec with Arizona-based DMB Associates Inc.

The move to buy DMB's interest in the fully entitled project reflects the Lebec company's "growth as a fully integrated real estate company and demonstrates its complete confidence in the future success of the development," Tejon Ranch announced last week.

Bakersfield has been selected to host a public meeting aimed at developing oil field groundwater-monitoring standards required under California's new fracking law, Senate Bill 4.

The State Water Resources Control Board is scheduled to host the meeting from 8 a.m. to 5 p.m. Aug. 7 at the Kern County Supervisor Chambers, 1115 Truxtun Ave.

SB4 gives the water board until July 1, 2015 to develop a program for monitoring groundwater during and after the well stimulation practice also known as hydraulic fracturing. The agency must beginputting in place a regional monitoring program by Jan. 1, 2016.

More than 200 construction workers graduated this month from a training program offered by the Central California chapter of Associated Builders and Contractors.

The trade association said the 205 graduates were trained in at least one of the following disciplines: field management, pipefitting, rigging, welding, heavy equipment, electrical and safety professional.

The group's Central California chapter comprises 152 members in Fresno, Inyo, Kern, Kings, San Luis Obispo, Santa Barbara and Tulare counties.

Murray Family Farms has been named the 32nd Assembly District's Small Business of the Year by Assemblyman Rudy Salas, D-Bakersfield.

Salas issued a statement that Steve and Vickie Murray have created a family-oriented business that creates a fun and safe destination while teaching visitors about agriculture.

The business offers agriculture-themed entertainment such as wagon rides and mazes as well as fruit stands, a bakery, a restaurant and produce for farmers markets.

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