The chairman of the city’s financial oversight board, Sam Katz, has resigned from the job, effective immediately.
Katz, a former finance consultant and three-time Republican mayoral candidate who has devoted himself for several years to a series of historical films about Philadelphia, sent a letter to Gov. Corbett resigning his seat on the Pennsylvania Intergovernmental Cooperation Authority.
The agency was created more than 20 years ago to help the city through a budget crisis and has since played a role reviewing the city’s five-year financial plans and passing judgment on their soundness.
In his letter to Corbett, Katz noted that the five-member board has just hired a new executive director, former deputy city controller Harvey Rice.