Head Of CHA Giving Back His Salary

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.”

(TM and © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS Radio and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)

  • Reynolds for Mayor, Senator, Governor

    Kudos to Mr.Reynolds. I guess he is not a real Chicago Political hack who is looking for six pensions. Congratulations Mr. Reynolds.

  • JBK

    Unfortunately, he’s a rare bird with a heart…In spite of my doubts, Ihope others in this position follow his example….



  • Candy Fionda Ambrose

    Great to hear this. I hope others that are in the same financial situation can and will do the same. It’s time to start helping those less fortunate especially when one has soooo much. This is indeed a selfless act Mr. Reynolds. Great Job!!!!! Maybe you should be the next Mayor and show what one man can do when thinking of others instead of themselves.

  • NWA

    Bravo! We need more African-American men who are willing to make a, continued commitment to their communities.


  • Raymond Prudente

    “A True Public Servant” But it takes courage from unselfish and non-traditional political leaders to change the way government works. Keep up the good work and God bless you Chairman James Reynolds.

  • Reikichik

    Bravo, Mr. Reynolds! You’ve set the bar for other city executives. When the fund is established, please let the public know how we can contribute.
    BTW, do you need an awesome executive assistant? I REALLY need to work for someone as principled as you…can start in two weeks!
    Congratulations and best wishes in this endeavor. You’ve made your parents proud.

  • Leroy Goldberg


    Bravo! We need more African-American men who are willing to make a, continued commitment to their communities.”………sadly he is most likely the only one.

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