SUNBURY - The Northumberland County Industrial Development Authority (NCIDA) has finalized its 24-month process to restructure its management.
During a meeting last month, the authority and its sister agency, Northumberland County Industrial Development Corporation, agreed to remain in operation to provide economic development assistance to new and growing companies and outside firms interested in relocating in the county.
The restructuring included completion of compensation negotiations with former executive director James King, which was first reported a year ago.
According to a press release issued last week by county planning and industrial development authority director Pat Mack, the authority and King have cooperated since January 2011 in "carefully adjusting" an amount that would be acceptable to both parties.
"Mr. King took an approximate 20 percent reduction in compensation owed and accepted a payment schedule for the remainder," Mack said in the press release. "The board thanked Mr. King for his many years of service to Northumberland County while he was equally laudatory to the community service rendered by numerous board members over the years on behalf of economic development."
After months of negotiation, in January 2012, it was reported that King would receive more than $131,000 in back pay, approximately $40,000 less than originally requested.
In June 2011, King, 72, of Winfield, who had served as NCIDA executive director since 1987, requested the authority pay him $170,166 for services rendered since 2004. He accrued the salary during a time the NCIDA couldn't afford to pay him.
King was paid with funds provided by the state Department of Community and Economic Development (DCED) for administrative and advertising expenses that the NCIDA has accumulated over the years.
The deal to pay King back was approved by DCED.
