"Being Mayor of Chapel Hill is the best job in North Carolina, because you get to meet and talk with so many people from around the state, you get to work with an exceptionally qualified professional staff, and you see so much interest in issues from people in the community," said Foy in a statement to the media.
But Foy said he's accomplished the things he set out to do when he first ran for office.
"We have expanded environmental protection, especially near streams (including the 750 acres of open space in our inventory); we have strengthened our ties with UNC; and we have added hundreds of units of housing that are affordable to teachers, nurses, and police officers," he said.
Foy said it's someone else's turn to take the reins.
"Anyone who serves in a position like mine understands how difficult it can be to move on, because there are always new challenges to face. But it is time for another person to lead in Chapel Hill. I look forward to our future, and I am confident that Chapel Hill will continue to be a great place to live, work, and go to school," he said.