Katz details city’s fiscal problems / JIM PANYARD
Gov. Tom Corbett has named Samuel Katz, well-known entrepreneur and frequent political candidate, to the Pennsylvania Intergovernmental Cooperation Authority (PICA), which oversees and manages spending by the City of Philadelphia.
Mr. Katz, once a Democrat supporting former Congressmen Bill Gray, Bill Green and Philadelphia Mayor W. Wilson Goode, switched to the Republican Party in 1990. He lost two mayoral elections to former Mayor John Street in 1999 and 2003. He also finished third in a four-way GOP primary for governor in 1994 and lost a Republican primary bid for mayor in 1991.
Mr. Katz, 61, has been highly successful in the field of municipal finance and securing investors and funds for projects such as professional stadiums. He is currently involved with the production of a film about Philadelphia, his hometown.
“Sam Katz is a proven civic leader whose well-established financial expertise will clearly benefit the authority and the city,” Mr. Corbett said in a statement. “With Sam’s knowledge and leadership, the authority will provide strategic guidance in helping Pennsylvania’s largest city return to fiscal health.”
“Philadelphia again finds itself in a precarious financial moment. For too long, Philadelphia’s financial problems have been left untended in the hopes that a better day would arrive,” Mr. Katz said. “The runway for that better day keeps getting shorter. I hope to use my experience in public finance and the city’s fiscal affairs to work with others of a like mind to shape city fiscal planning and policy towards a stable and healthy future.”
PICA was established by the state two decades ago to help the continually financially troubled city right itself.
Mr. Katz briefly considered running against Democrat Philadelphia Mayor Michael Nutter this year, but decided against doing so despite encouragement from Mr. Street, who beat Mr. Katz twice. Mr. Nutter appears to have clear sailing to reelection in November.
Between runs at Mr. Street, Mr. Katz served as CEO of Philadelphia First, a business organization that aimed at promoting the city and region. It was folded into the Greater Philadelphia Chamber of Commerce in December 2002, prior to Mr. Katz launching his second bid for mayor.
Mr. Katz contributed $7,000 to Mr. Corbett’s gubernatorial run last year.
He will replace James Eisenhower, the PICA appointment of former Gov. Ed Rendell.
The other members of the board are appointed by the leadership of the state House and Senate.
