The Morning Report
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No salary increases and no bonuses for the Centre City Development Corp.’s 55 employees this year.
Though the City Council had budgeted 3 percent raises for CCDC employees — $135,000 altogether — and another $120,000 in incentive bonuses, the agency will not spend the money.
Agency chairman Fred Maas said the agency will also cut travel allowances for its board members, who have often attended Urban Land Institute conferences.
“Given the state of economic affairs of the city, I don’t think we can be considering raises and bonuses,” Maas said. “It’s the right thing to do.”
Maas said he aimed to cut CCDC’s $9.9 million administrative budget by 10 percent but wasn’t yet sure where the rest of the money would be trimmed. The salary and bonus freezes will save $250,000; the agency would have to find another $740,000 somewhere. Maas said CCDC should first look at its expenses for consultants.
CCDC is also likely to fully repay the city’s $11.3 million annual debt payment it owes on the money it borrowed to build Petco Park. It was previously supposed to pay $7.5 million this year after paying $5 million last year.
Councilwoman Donna Frye, activist Mel Shapiro and others have long advocated for CCDC to pick up the city’s tab for the ballpark, as doing so frees up funds for the cash-strapped city to spend elsewhere.