Glass was appointed to the CIB by Democratic Mayor Bart Peterson in January 2000, and was elected president during his first meeting.
"I always said the mayor's last day would be my last day," Glass said. "I don't want to be one of those guys that hangs on beyond their time. So I will exit stage left at the end of the year."
CIB members are responsible for overseeing operations at several high-profile publicly owned properties, including Conseco Fieldhouse, the RCA Dome and Convention Center, and Victory Field.
Glass also plans to resign from the committee that is heading up an effort to bring a Super Bowl to Indianapolis.
Glass said he has not spoken to Republican Greg Ballard-or any member of his transition team-since his upset election victory over Peterson on Nov. 6.
Glass' current two-year term on the CIB was set to end Jan. 14, though he could have sought reappointment.
Ballard is expected to name a Republican to lead CIB. However, he might have retained Glass as a CIB member because no more than four of his six appointees to the panel can be Republican.
"I feel I am leaving the CIB and the Super Bowl bidding process in good shape," Glass said. "I feel this [departure] is the cleanest way to do it."