Approval of an Amendment to Exhibit B of the Employment Agreement of the City Manager Clarifying and Implementing the Residency Incentive. City of Culver City California Agenda Item Report Meeting Date: 05/14/2012 CITY COUNCIL AGENDA ITEM: Approval of an Amendment to Exhibit B of the Employment Agreement of the City Manager Clarifying and Implementing the Residency Incentive. Contact Person/Dept.: Carol A. Schwab/ City Attorney Fiscal Impact: Yes X No X Public Hearing: Public Notification: Meetings and Agendas City Council (05/10/12) General Fund: Yes No Phone Number: (310) 253 5660 Action Item: X Attachments: X Item Number: A 1 Department Approval: Carol Schwab (05/10/12) Chief Financial Officer Approval: Jeff Muir (05/10/12) City Attorney Approval: Carol Schwab (05/10/12) City Manager Approval: N/A RECOMMENDATION: Staff recommends the City Council consider approval of an Amendment to the Executive Employment Agreement with the City Manager which clarifies and implements the residency incentive language as set forth in Exhibit B thereto. BACKGROUND: During the City Council meeting held on July 12 2010 the City Council considered and approved an Executive Employment Agreement which appointed John Nachbar as City Manager for the City of Culver City (Employment Agreement) and set forth the terms and conditions of his employment. As the City Council was interested in facilitating the City Manager s presence in the community and his participation in civic and community affairs Section 5(D) of the Employment Agreement offered as a residency incentive a loan to assist him in obtaining a primary residence in Culver City. The language of Exhibit B to the Employment Agreement providing for the loan states that it is for the purchase of property. DISCUSSION: For the past year and a half the City Manager who currently resides in a rental property located in the City has been actively searching for a Culver City home to purchase as his residence. In April 2011 as a result of wh...
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