Mayor's Committee Chairman Resigns
By Stephanie Mariel Petrellese

Deputy Mayor John L. Mauk has submitted his resignation as chairman and member of the Mayor's Committee on St. Paul's after discovering that his employer, CB Richard Ellis, has a business relationship with AvalonBay Companies, the designated developer for St. Paul's.

"Until the issue was raised at the Board meeting, I was unaware of any such relationship...Once I learned of the connection, however, I resolved to take steps immediately to avoid even an inference of impropriety," Mauk wrote in his Feb. 20th resignation letter to Mayor Peter Bee.

Mauk and the public learned of the business dealings from Ed Keating, member of the executive committee of the Committee to Save St. Paul's, during the Feb. 7th meeting of the Garden City Board of Trustees. Keating noted several connections, including that an affiliate of CB Richard Ellis, known as CB Richard Ellis Global Real Estate Securities, owns nearly 300,000 shares of AvalonBay stock, an investment valued at more than $28 million.

Mauk said that many of Keating's allegations were taken out of context or incorrect. "CB Richard Ellis' investment in AvalonBay amounts to a tiny fraction, approximately .00074 percent, of the total $37.8 billion invested by CBRE Global Investment Management," Mauk noted in his resignation letter.

Mauk said he is also stepping down to try to bring a stop to the bitterness and personal attacks so that the community can concentrate on the future of the building. "By removing myself from further decisions regarding an AvalonBay redevelopment of St. Paul's, I hope to refocus the discussion on the facts and merits of the redevelopment options, and to keep this important decision from being distorted by irrelevant side issues."

Mayor Bee told the Garden City News that he is sad Mauk is resigning from the committee [for more comments, see this week's Mayor's column]. As of press time, he was talking to staff and trustees to secure a replacement and said a decision will come soon so the project is not stalled.