Daily Business Report — March 27, 2013
City Council Rejects Mayor’s Call
For Delay to Negotiate TMD Deal
City News Service — The San Diego City Council passed a resolution Tuesday to require Mayor Bob Filner to sign an operating agreement for the city’s Tourism Marketing District that the panel originally approved in November, despite his contentious plea for a two-day delay. Filner has refused to sign the deal, which would release administrative funds to the agency that takes a 2 percent surcharge on hotel room rates, and uses the proceeds to promote San Diego as a vacation destination. Last week, a judge ruled that Filner was not required to sign the document because the council only “authorized” his signature. The resolution passed Tuesday requires him to sign the contract.
While the judge didn’t make it part of his order, he did say in Friday’s hearing that Filner would have to sign the agreement if directed to by council members. Filner told the council members that he came close to reaching a deal on a revised operating agreement with district officials in the last couple of days and asked them to wait two days before taking up the issue.
At a news conference after the council decision, Filner said he and district officials had resolved 90 percent of the issues and was confident he could complete a deal if given more time. Filner said the remaining hang-ups were over how to publicly report the salaries of tourism officials, how to protect the city from adverse rulings from separate lawsuits over how the agencies are funded, and wording over the spending of $6 million to organize a year-long celebration of Balboa Park’s centennial.
However, the resolution that was passed will cause nothing but delays, Filner said. “As you know, I can veto the resolution,” Filner told the council members. “As you know, I think it’s illegal. As I’ve said, I think it’s a bad deal for taxpayers. I’ve tried to make it better; I think we’re this close. You can override the veto. I can refuse to sign it. We can go back to court. The court will make a decision, and I can appeal that decision. As the city attorney pointed out, right in the contract is the ability to hold up the whole expenditure of funds as long as there is litigation.”
Filner said the delay could “go on and on” for a year or more.
Biomed Realty Trust Prices Public Offering
Of 15 Million Shares of its Common Stock
BioMed Realty Trust Inc. today announced the pricing of its public offering of 15,000,000 shares of its common stock at $21.40 per share. The offering is expected to close on or about April 2. Gross proceeds from the offering will be approximately $321 million, the company said. BioMed Realty expects to use the net proceeds to fund a portion of the purchase price for the pending acquisition of Wexford Science & Technology LLC, to repay a portion of the outstanding indebtedness under its unsecured line of credit and for other general corporate and working capital purposes.
Jill Secard Appointed Executive Director
of the San Diego Diplomacy Council
Jill M. Secard has been appointed executive director of the San Diego Diplomacy Council (SDDC), a North Park-based nonprofit that works with the public and private sector to bring emerging world leaders to San Diego each year for professional and cultural exchanges. A former Foreign Service officer, Secard brings more than 10 years of experience in nonprofit management, fundraising and development, public relations, and special events production. She has been associated with Project Concern International, Just Like My Child Foundation, and A Reason to Survive, Inc. (ARTS). For 12 years she served in a variety of management positions for Hewlett-Packard Co. in the United States and France. Secard has an MBA degree in international business from the University of San Diego and a bachelor’s degree in business finance from California State University, Chico. She speaks French, Spanish and some Arabic.
David Amaya Joins Fisher & Phillips Law Firm
David Amaya has joined Fisher & Phillips LLP as an associate in its San Diego office. Prior to joining Fisher & Phillips, Amaya practiced labor and employment at Stokes Roberts & Wagner in San Diego and upon graduation from law school he joined the San Diego office of Lewis Brisbois Bisgaard & Smith as an associate in the firm’s labor and employment group. Amaya graduated, cum laude, from the Indiana University Bloomington Maurer School of Law in 2008. While there, he was the articles editor of the Federal Communications Law Journal. He received a bachelor’s degree from UC San Diego.
Regional Center Elects New Chair
Imperial Beach resident Shirley Nakawatase has been elected as the chair of the board of the San Diego Regional Center, a nonprofit service of San Diego-Imperial Counties Developmental Services Inc. The organization governs all services to the developmentally disabled on behalf of both counties. Nakawatase, the president of Nakawatase & Co.CPAs, has been involved with the regional center for many years and this is her fourth year serving on the board.
Elena Pacenti to Join the NewSchool of Architecture and Design
Elena Pacenti will join The NewSchool of Architecture and Design in August as director of the recently created Domus Academy School of Design. Pacenti comes from Domus Academy in Milan, Italy, one of the top-ranked design schools in the world. She will lead the development of new global design education programs, such as NSAD’s Bachelor of Interior Design that prepare students for careers in international design. The interior design program launched last fall, and classes begin in October 2013. Pacenti currently directs the Design School at Domus Academy. She was director of the Domus Academy Research Center from 2002 through 2009. In 2011, she established the Master in Service and Experience Design program at Domus Academy.
The Daily Business Report is produced by SD METRO.
Contact: Manny Cruz (619) 287-1865. email@example.com.