CHA Head Offers Salary to Help Chicagoans

May 03, 2011

Now, here’s an appointment Mayor Richard M. Daley should be proud of.

Chicago resident and Chicago Housing Authority Chairman James Reynolds has announced that he is going to donate his $100,000 CHA salary to help public housing residents become educated.

Jim Reynolds

CHA Chairman Jim Reynolds

Reynolds will donate the stipend along with $25,000 of his own money to Windows of Opportunity to create a special CHA Board of Commissioners scholarship fund that will assist low-income, public housing residents with higher education costs.

Windows of Opportunity is a CHA nonprofit affiliate that connects public and assisted housing residents to resources that could help increase their quality of life.

“I know that this money will be put to good use and help residents who need it the most to pursue higher education,” said Reynolds. “I look forward to meeting the scholarship recipients in the future and hearing their personal stories as they pursue their degrees.”

Reynolds, who is also co-founder, Chairman and CEO of the Chicago-based global investment firm Loop Capital Markets, was appointed last September by Chicago Mayor Richard M. Daley to chair the eight-member CHA Board of Commissioners.

Obviously, he was a fantastic choice.

“I would like to personally thank Chairman Reynolds for both his generosity and his dedication to the youth of the Chicago Housing Authority,” said Crystal Brown-Black, Executive Director of Windows of Opportunity.

“This fund will have the ability to empower numerous public housing children and young adults in Chicago, as they pursue their dreams and embark on their own personal journeys toward self-sufficiency and success.”

For more information on the CHA and its programs, visit

To find out how to apply for aid to attend a post-secondary institution in the Fall of 2011, visit Applications must be submitted by June 30, 2011.

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