Mayor Richard M. Daley today appointed James Reynolds, Jr., as a member of the board of the Chicago Housing Authority and said that if the City Council approves the appointment, he will name Reynolds CHA board chair.
Reynolds, 56, is the co-founder, chairman and Chief Executive Officer of Loop Capital Markets, a global investment firm based in Chicago.
“One of my highest priorities as Mayor has been to lead the transformation of our old, isolated public housing into vital communities where residents of mixed incomes live together in neighborhoods with good schools, jobs, shopping and housing,” Daley said in a City Hall news conference.
Since then , the City has have invested more than $3 billion in public and private resources in the effort and are now more than 70 per cent of the way toward reaching that goal, Daley said.
“Today, to keep that progress going, I am announcing the appointment of James Reynolds as a member of the CHA Board of Commissioners. If the City Council approves the appointment, I will then name Jim CHA board chairman,” he said.
In addition to his role at Loop Capital markets, Reynolds has long been active in community affairs.
“Jim Reynolds understands the challenges we face to complete the Plan for Transformation and he possesses the leadership qualities to take us to our goal,” Daley said.
He thanked outgoing CHA Chair Marty Nesbitt for four years of strong leadership.
“Jim Reynolds embodies the spirit of collaboration that has made the Plan for Transformation work, and it’s why he is the right person for this job,” he said.