Ward 7

Councilman John J. Igliozzi

Councilman John J. Igliozzi has been on the City Council since 1997. He currently serves as Majority Whip and represents constituents who live in Ward 7; the westernmost neighborhoods of Hartford and Silver Lake. Councilman Igliozzi serves as Chairman of the Committee on Finance.

 

READ HIS FULL BIO HERE >

Ward 7: Hartford & Silverlake

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Councilman John J. Igliozzi, Esq. to Help Dedicate Woonasquatucket Adventure Park Tomorrow

Tomorrow Councilman John J. Igliozzi, Esq. (Ward 7) will join Mayor Jorge O. Elorza, Superintendent of Parks Wendy Nilsson, Janet Coit from RIDEM, Ed Raff from the Met School, the Woonasquatucket River Watershed Council, Kevin Essington from The Trust for Public Land, and Sheila Dormody from The Nature Conservancy to unveil the new Woonasquatucket Adventure Park located at 117 Glenbridge Avenue in Providence at noon.
The new Woonasquatucket Adventure Park extends to Merino Park, encompassing nearly 28 acres of green space, play space, fields, and multi-purpose trails. The project has transformed a once vacant and underutilized piece of land along the Woonasquatucket River into a new beautiful, and active recreational space, complete with amenities that will attract residents from across Providence’s dense and diverse neighborhoods.
“This new Adventure Park is a great addition to the neighborhood,” stated Councilman John J. Igliozzi, Esq. “It will provide residents with access to amenities like picnic areas, a parkour course, a bicycle pump track, and a multi-use trail system which connects to Merino Park. I am grateful for the community support we have received to make this investment for not just our young people, but for residents of all ages.”
Over his tenure, Councilman Igliozzi has invested nearly $1M in Merino Park and the new Adventure Park. At Marino Park, he funded the rehabilitation of the basketball court, created a soccer field, a playground, added new parking lights, a new parking lot, security cameras, and brought water to the park for the first time.
Councilman Igliozzi continued, “I strongly believe in investing in our City parks, and in my years in office, I have made that a priority. Everyone deserves access to nature and places for exploration and space.” In FY 2020 Councilman Iglozzi has earmarked another $80K in funding for neighborhood park projects.
The Woonasquatucket Adventure Park was made possible through funding from the Rhode Island Department of Environmental Management, the City of Providence, City Council of Providence, Rhode Island Department of Transportation, Pisces Foundation, Hydro Flask, McKee Foods, and The Nature Conservancy.
For more information on the Woonasquatucket Adventure Park or Woonsquatucket River Watershed Council, visit them on the web: WRWC.

City Council Committee on Finance Discussed Asset Transfers as a Tool to Address Unfunded Pension Fund

Tonight the City Council’s Committee on Finance, Chaired by Majority Whip John J. Igliozzi, Esq. (Ward 7), invited Xaykham Kamsyvoravong, Chairman of the Board of Directors of the Providence Water Board to discuss municipal Asset Transfers as a potential tool to help address the City’s underfunded pension fund.
“Providence is not the only city in the State that is facing serious pension liabilities,” stated Finance Chairman John J. Igliozzi, Esq. “There are 17 other municipalities that have critically underfunded pension plans, and Providence is one of them. It is not only necessary but prudent that we explore all options on the table to mitigate our liabilities and obligations.”
Asset Transfers are a common practice by corporations to help support their unfunded pension liabilities. This practice moves the ownership of a non-cash asset from an entity to its pension fund, allowing the asset’s appraised value to offset unfunded pension liabilities.
Majority Leader Jo-Ann Ryan and Vice-Chairwoman of the Committee on Finance (Ward 5) said, “The City of Providence is facing serious long-term financial challenges, and we need to explore all avenues to address our unfunded pension fund. I want to thank Xaykham Kamsyvoravong for his scholarly paper from his time at Roger Williams Law School, his service to the City of Providence, and for joining us to begin an important discussion.”
Leader Ryan continued, “Clearly, asset transfers are not a silver bullet for state and local governments or pension funds, and there are many challenges that need to be addressed. It is hard to identify assets suitable for this funding mechanism and even more difficult to price and structure them fairly. More importantly, an asset transfer should only be one piece of a well thought out, efficient long-term plan that includes pension reforms. We will be looking for help from our State colleagues to determine if it should be part of our long-term plan. Bottom line – it is an accepted accounting treatment that can positively benefit our balance sheet. It doesn’t solve for the cash flow that is needed to address our financial challenges, but it may be part of the broader solution.”
“This is not a new concept, corporations have used Asset Transfers for decades to leverage the value of their assets,” stated City Council President Sabina Matos. “The Council is looking broadly at our pension obligations, and felt this idea is worthy of further discussion.”
In 2017 the state of New Jersey transferred the New Jersey Lottery to its pensions for a 30-year term, and it offset nearly $13.5 billion of unfunded pension liability. Other states like Connecticut and Illinois are currently exploring this process to mitigate their pension liability as well.
Council President Matos continued, “We have serious financial obligations facing this City – from our schools to infrastructure, to a ballooning pension. Nothing should be off the table, and every idea must be explored and vetted. Asset Transfers are just one area that my leadership team is exploring. This Council is not willing to shirk its duty, and we must be proactive. I applaud the Committee on Finance, and it’s Chairman John Igliozzi and Vice Chairwoman Jo-Ann Ryan for being so willing to explore these difficult scenarios.”

Statement from City Council President and the Council Leadership Team

Statement from City Council President Sabina Matos and the City Council Leadership Team Regarding the States’ Takeover of the Providence City School District:

In the aftermath of the Providence Public School District Community Forums and on the eve of a state takeover of our public school district, the City Council remains committed to playing a collaborative role in our children’s educational future.

We look forward to the opportunity to work in partnership with RIDE and to help foster solutions that will improve educational outcomes for our kids.

Despite the Mayor not being communicative or transparent with the Council in these preliminary stages of this process, we remain unwavering in our shared responsibilities to provide students with safer and cleaner school buildings, a more relevant and rigorous curriculum, and a quality of education that sets them up for success.

Council President Sabina Matos

Council President Pro Tempore Michael Correia

Majority Leader Jo-Ann Ryan

Senior Deputy Majority Leader Nicholas J. Narducci Jr.

Deputy Majority Leader Mary Kay Harris

Majority Whip John J. Igliozzi, Esq.

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