WASHINGTON, D.C. – December 23, 2011 – (RealEstateRama) — The Federal Home Loan Bank of Chicago named Leo Ries Vice Chair of the Affordable Housing Committee for their Board of Directors. The Federal Home Loan Bank of Chicago is a $73 billion wholesale bank serving the needs of member housing finance institutions located in Illinois and Wisconsin. Executive Director of LISC Milwaukee since 1999, Ries has served on the Federal Home Loan Bank’s Board of Directors for three years. During 2011, the Bank’s affordable housing grant programs consisted of both the $21 million Competitive AHP grant program and a $13 million homeownership grant set-aside program called Downpayment Plus® (DPP®). Since 1990, the Federal Home Loan Bank of Chicago has awarded more than $264 million in Competitive AHP grants and more than $77 million in DPP funds that have helped provide housing for families whose incomes are 80% or less of the area median income.
LISC is nationally recognized as the leader in neighborhood development, and is the largest community development organization in the country.. Since 1980, LISC has marshaled $9 billion from 3,100 investors, lenders and donors to foster the revitalization of more than 300 urban neighborhoods and rural communities. Since 1995, LISC Milwaukee has worked in the central city to underwrite and facilitate comprehensive community planning, and provide grants, loans and technical assistance to support these plans. More information is available at www.lisc.org or www.lisc.org/milwaukee.
About Leo Ries
As Executive Director, Leo oversees technical assistance and project support to CDC’s, obtains financial support for LISC activities, and builds and promotes community development in Milwaukee through partnerships and public policy. Prior to his position with LISC, Leo worked for the City of Milwaukee for over ten years as Director of Housing and Neighborhood Development in the Department of City Development and as Director of the Community Block Grant Administration. In these positions, he was responsible for developing and administering programs that preserve Milwaukee’s housing stock, expand economic and housing opportunities for Milwaukee residents, and revitalizing neighborhoods that have experienced decline and disinvestment. Leo Ries has also served in a voluntary capacity with numerous non-profit and civic organizations.
Dawn Hutchison-Weiss, LISC Milwaukee
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