CCDC Cuts Two Top Executives
Thursday, February 19, 2009
The Centre City Development Corp., San Diego's downtown redevelopment arm, laid off two of its top executives today.
Barbara Kaiser, vice president of real estate operations, and Phil Bona, assistant vice president of architecture and planning, were released, effective immediately, according to a statement from CCDC Chairman Fred Maas.
"Austere times warrant austerity measures and while these are extremely difficult decisions, the CCDC board and staff remain committed to serving the community, fulfilling our redevelopment mission and operating prudently and efficiently in these challenging economic times," the statement reads.
CCDC's board has already frozen bonuses and salaries for its employees this fiscal year, and has recommended the same for the coming fiscal year.
The CCDC board will also consider lowering the salary for whoever is selected to replace Nancy Graham, who resigned as CCDC's president last summer over an alleged conflict-of-interest with a downtown developer.
The new president will make $175,000 to $225,000, compared to the previous salary range of $191,000 to $255,000, according to Maas.
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