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CCDC Cuts Two Top Executives

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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