Ushering In a New Era at SEDC

Voice of San Diego
September 3, 2008

The four new Southeastern Economic Development Corp. board members installed Tuesday by the City Council have been tasked with restoring confidence in an agency reeling from a bonus scandal, entangled in a number of high-profile lawsuits and searching for a new leader.

The new board members inherit an organization in crisis and will face crucial decisions related to SEDC's terminated president, Carolyn Y. Smith. The board's pending business includes whether to rescind Smith's $100,000 severance package, what to do with a breach of contract and fraud lawsuit against the agency and Smith, and how to move forward on a development deal that's been tainted by allegations that its outgoing chairman had a conflict of interest.

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