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In surprise departure, John Igliozzi is leaving the chairmanship of the Providence Finance Committee

June 14, 2012

John Igliozzi announced during a meeting this evening of the Providence City Council’s Finance Committee that he’ll be stepping down as FinCom chairman, effective July 1.

Igliozzi presented his announcement as the capstone of efforts to improve the capital city’s finances, including closing a staggering deficit without new taxes, raising the focus on negotiation instead of litigation with public employees, and forging agreements for new contributions by tax-exempt institutions. He said he’s proud of his work and feels he and Councilman Terry Hassett had a positive effect by briefly challenging a council-backed pension overhaul before later supporting it.

Igliozzi denied that his departure is part of an agreement with council leadership. Council President Michael Solomon declined comment.

RIPR learned separately that Igliozzi is stepping down as part of an agreement with council leadership. The deal was made after Igliozzi and Hassett rescinded their challenge to the pension overhaul as part of a faction that unsuccessfully tried to oust council Majority Leader Seth Yurdin.

Igliozzi, part of a prominent political family from Silver Lake, says he plans to remain a member of the Finance Committee and expects to seek re-election in 2014.

He said he hasn’t had time to consider throwing supporting behind a successor as FinCom chair. Councilman David Salvatore is considered the favorite to replace Igliozzi

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