Capital Area Transit System CEO Bob Mirabito could get a long-term contract and hearty raise next week—placing him among the highest-paid officials in Baton Rouge, outpacing the pay of the mayor, police chief and many others—following a vote Wednesday by a CATS committee to recommend approval of the contract.
Mirabito currently earns $147,000 a year. He was hired on an interim basis in May 2013 with an annual salary of $140,000.
As first reported by Daily Report, the three-year contract that the full CATS Board of Commissioners will take up on Tuesday would provide for an annual base salary of $175,000, plus a full benefits package and an additional $700 monthly payment to cover out-of-pocket employee expenses for employee benefits. Mirabito would also be eligible for an annual performance-based pay raise of 5%, plus the opportunity to make an additional $12,500 per year if the CATS board develops metrics for incentive performance pay and Mirabito meets the requirements, according to the contract.
For comparison, Mayor Kip Holden makes about $146,000 a year, while Police Chief Carl Dabadie is paid about $160,000.
The CATS Finance and Executive Committee voted 3-0 to support the contract, which includes a pair of two-year renewal options after the initial three years. The full CATS board will take up the contract at its meeting Tuesday at 4:30 p.m. at the offices of BREC, 6201 Florida Blvd.
This week also marked the return of the annual Trends in Real Estate seminar, which is presented annually by the Greater Baton Rouge Association of Realtors and features an update on the state of the market, including a look at the residential, multifamily, office, industrial, retail and financial sectors.
To kick off the half-day seminar, National Association of Realtors Chief Economist and Senior Vice President Lawrence Yun delivered the keynote address, during which he said the U.S. housing and economic outlook looks bright, but that the Baton Rouge market looks even better.
Read the complete Daily Report Week in Review for more coverage from the Trends in Real Estate seminar, as well as a rundown of some of the other top stories making headlines this week.
—Steve Sanoski
