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Must be nice

By rgordon
Monday, February 26th, 2007 at 5:27 pm in Uncategorized.

If you’re feeling like the meager dough and so-called perks you take home for your hard work every day aren’t enough, don’t read this. It might make you feel worse.

John Maltbie
On Tuesday, the San Mateo County Board of Supervisors is set to approve a 5 percent merit-based pay raise for the county’s top dog, County Manager John Maltbie. Retroactive to Jan. 1, it would bring his total annual paycheck to almost $250,000 ($9,610.40 on a bi-weekly basis, to be exact).

Maltbie, who reports to the Board of Supervisors, has been the county manager since 1989. His current contract is set to expire on March 31, 2009. Maltbie’s last contract, signed in November 2005, stipulated for the board to conduct a performance evaluation annually and consider whether a merit raise of up to 5 percent should be granted. Discussions about his performance evaluation are held in closed session and are not public record.

By the way, just to make it sting a little more, Maltbie gets 30 days of paid vacation. He can opt to cash out 360 hours of unused vacation every year, which could give him an additional bonus of as much as $43,000.

But wait, we’re not done yet.

The county also has sweetened the deal for new Assistant County Manager David Boesch, as the Board of Supervisors also is set on Tuesday to assume nearly $1.5 million in home loans on his behalf.

David Boesch
The county nabbed Boesch from Menlo Park, where he was city manager.

When Boesch took the job in Menlo Park in 1990, the city agreed to loan him $1.7 million to relocate and by a house nearby. Since then, he has paid off about $200,000. The terms of his employment with Menlo Park required him to pay off the loan in full one year after leaving or after selling the house.

The county has agreed to pay off Menlo Park and assume his loan. They’ll enter into a new promissory note, secured by a first deed of trust, with interest and repayment terms the same as for the Menlo Park loans.

The Menlo Park loans were at 5 percent interest at no specified term. The repayment provisions required Boesch only pay a portion of the interest each month, with the unpaid interest accruing to be paid, along with the principal, when the loan is paid off.

The county will use reserves to pay off the loan to Menlo Park. Boesch’s last day there was Feb. 20 and he started with the county today. And for the record, his salary is $200,000.

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