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Thursday, April 07, 2005 | Salaries and all other administrative costs associated with the Centre City Development Corp. are paid for by the tax-increment revenue returned from redeveloped property.
CCDC President Peter J. Hall earns a salary of $220,500 a year and received a bonus of $40,000 in 2005 based on his performance last year. The corporation’s vice presidents and senior project managers earn between $90,000 and $163,000 annually.
Hall receives a $500-a-month automobile allowance, while the car allowance for vice presidents is $350 per month.
Board of Directors:
Each CCDC director is able to receive a stipend amounting to $50 per meeting attended, but the current board has decided to donate their stipends back to the corporation to pay for refreshments at board meetings and Directors’ Awards that honor community members.
Board members also have their attendance at the annual Urban Land Institute convention paid for, as they are reimbursed for the conference’s registration fee and travel expenses related to the trip.
Return to part four of Voice’s look at the Centre City Development Corporation
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