Derek Borg. File Photo
Former City Manager Derek Borg was to receive a severance payment of $63,761.43 in three equal payments, according to terms of his separation agreement. The amount included payment for any accrued and unused vacation time or benefits.
The city also agreed to pay Borg’s attorney a lump sum of $5,796.49.
Borg resigned Friday, Oct. 20, as the Princeton City Council held a special meeting to accept Borg’s voluntary resignation. No reason was given.
The former city manager signed the separation agreement on Nov. 20 and Mayor Brianna Chacon signed it on Dec. 19. The agreement nullified a contract signed in December 2019 under which the city manager had received a yearly salary of $189,369.15.
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