CHICAGO (CBS) — The head of the Chicago Housing Authority is doing something you don’t normally hear a public official doing – giving money back.
As WBBM Newsradio 780 reports, CHA chairman James Reynolds is supposed to collect $75,000 a year for his job. But Reynolds, 56, is also the chief executive officer of Chicago-based global investment firm Loop Capital Markets.
LISTEN: Newsradio 780′s Bernie Tafoya reports
Reynolds, 56, says he doesn’t need any more cars, suits or shoes, so he’s giving the money back to the CHA to create a scholarship fund for residents.
Reynolds is also kicking in $25,000 of his own money to start the scholarship fund off with $100,000.
He said Tuesday he’d like to “make a difference in one kid’s life.”
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