(CNN) - Outgoing Boston Mayor Thomas Menino wasted no time figuring out what he will be doing after he leaves office on January 6th. He plans on joining Boston University to be the co-director of the "Initiative on Cities," according to a source with knowledge of the agreement.
The longest serving mayor in Boston's history will step down at the end of his record fifth term. Menino has been Boston's mayor since 1993, and served as a city councilor prior to that.
The "Initiative on Cities" is a newly developed program at Boston University that will focus on the study of urban issues in major cities in the United States and around the world. The program will be funded by the university.
A press conference is scheduled at Boston University on Wednesday morning with Menino and B.U. President Bob Brown.