Sam Katz today stepped down as chairman of the Pennsylvania Intergovernmental Cooperation Authority, the state-appointed board that oversees the city’s finances.
Katz, a three-time mayoral candidate and municipal-finance consultant, sent his resignation letter to fellow Republican Gov. Corbett, who appointed Katz in 2011.
“PICA has recently hired a new Executive Director, the third director during my three year tenure. This seems like the right time for me to exit to make way for another Board leader who can envision a new direction for PICA and work collaboratively to execute it with our new executive and other members of our dedicated Board.”
Katz recently has spent a considerable amount of time working on his historical documentary series, "Philadelphia: The Great Experiment."
Under Katz’ leadership, PICA several times asked the Nutter administration to revise its five-year financial plan, which the board must approve every year for the city to continue receiving state support.
PICA never rejected the plan, but it came close in 2012, when board member Sam Hopkins voted against it and Katz publicly flirted with joining him. It only takes two of PICA’s five members to defeat a five-year plan.
The new executive director is Harvey Rice, former chief of staff to City Controller Alan Butkovitz.
The other four board members are appointed by legislative leaders from both parties in Harrisburg.