Committee on Finance
RESOLUTION
WHEREAS, on June 22, 2013 the board of directors of The Commuter Rail Division of the Regional Transportation Authority and Northeast Illinois Regional Commuter Railroad Corporation (collectively "Metra") voted 9-1 to accept the resignation of CEO Alex Clifford and approve a separation agreement which authorized an immediate $442,000 payout to Mr. Clifford; and
WHEREAS, Alex Clifford was hired as the Executive Director of the commuter rail system on February 11, 2011 and at the time of his resignation, there were eight months remaining on his $252,500 per year contract; and
WHEREAS, the $442,000 payout figure reportedly includes salary, benefits, vacation pay and six months' severance; and
WHEREAS, Metra could reportedly end up paying $750,000 or more for Mr. Clifford's legal fees (up to $75,000), moving expenses (up to $78,000), health care insurance, and to subsidize his earnings for an additional 12 months to ensure Mr. Clifford is paid the equivalent of his Metra salary through August 11, 2015; and
WHEREAS, for each of the six months from February 11, 2014 through August 11, 2014 Metra shall pay Mr. Clifford $22,993 per month and for each of the twelve months thereafter, through August 11, 2015, should Mr. Clifford earn less each month than what he earned at Metra, Metra has agreed to pay him the difference between what he last earned at Metra and what he earns in his new employment in each such month; and
WHEREAS, the price of Metra monthly and 10-ride passes rose by approximately 29 percent in early 2012, and 10-ride passes spiked another 11 percent this February; and
WHEREAS, the corporate authorities of the City of Chicago intend to ensure that the taxpayer dollars of Chicago residents are being expended appropriately; now therefore
BE IT RESOLVED, that the Chairman of the Regional Transportation Authority and the members of the board of directors Metra are hereby invited to appear before the Committee on Finance to testify at a hearing concerning the separation agreement between Metra and its former CEO, Alex Clifford.