TRENTON, NJ – June 21, 2011 – New Jersey Community Capital, a community development lender that supports community-based enterprises and neighborhood revitalization efforts, announced today the election of noted civil rights attorney Kenneth H. Zimmerman as the new chair of its board of directors, effective May 18, 2011.
A long-standing community leader and legal advocate in New Jersey, Mr. Zimmerman is a proven leader excited to help steer New Jersey Community Capital’s continued pursuit of sustainable solutions for distressed communities across the state.
Mr. Zimmerman has demonstrated his ability to lead and innovate in a variety of different roles in the public, private, and nonprofit sectors, on both the federal and state levels. He currently is a member of the Lowenstein Sandler Litigation Group, where he provides strategic direction and implementation of the firm’s pro bono and public advocacy initiatives. He also is a Senior Non-Resident Fellow at the Brookings Institute Metropolitan Policy Program, and serves as an advisor to Harvard Law School’s Public Service Venture Fund, which provides seed money for start-up nonprofits and salary support to graduates pursuing work in nonprofit or government agencies.
Mr. Zimmerman served as a member of the Obama Transition Team for the Department of Housing and Urban Development (HUD), and subsequently served as a senior advisor to current HUD Secretary Shaun Donovan. From 2006 to 2008, Mr. Zimmerman was Chief Counsel to former New Jersey Governor Jon S. Corzine with responsibility for legislative matters, judicial and prosecutorial appointments, and oversight of the state’s independent commissions and authorities.
From 1999 to 2006, Mr. Zimmerman served as the founding executive director of the New Jersey Institute for Social Justice, an urban research and advocacy organization whose mission is to advance the state’s urban neighborhoods and residents. Under his leadership, the organization litigated affordable housing and fair lending cases; spearheaded nationally recognized efforts to reform the state’s corrections and parole systems; and initiated a model program to assist urban high school graduates in entering the building trades, a program that was subsequently replicated by the state. He also co-authored reports on predatory lending and the suspension of driver’s licenses that led to state legislative reforms. Prior to that, Mr. Zimmerman served as Deputy Assistant Secretary for Enforcement and Programs in the Office of Fair Housing at HUD, where he directed its enforcement of the Fair Housing Act and other civil rights laws.
Mr. Zimmerman joined New Jersey Community Capital because of its capacity, commitment, and engagement with an integrated approach to rebuilding communities. Supportive of an agenda that president Wayne Meyer calls “rethinking the system,” Zimmerman takes on his role at a time when New Jersey Community Capital has gained national attention for developing groundbreaking solutions, even as it continues its ever-important role as a financial institution. “It is critically important that we continue to build and expand on our community development strategies, as well as our lending strategies, to create the elements of a system capable of bringing about transformative neighborhood stability and change,” says Mr. Meyer. “Through Ken Zimmerman’s strong leadership, and through the hard work of the staff and rest of the board, New Jersey Community Capital will aim to fulfill its ultimate objective of guiding community development in the state into a cohesive, comprehensive, and consistently innovative movement–one that will have the power to transform our at-risk communities and serve as a model for other such communities throughout the nation.”
About New Jersey Community Capital:
Based in Trenton, New Jersey Community Capital is a 501(c)3 nonprofit, mission-driven lender that works to transform at-risk communities through strategic investments of capital and knowledge. The organization invests in affordable housing, community facilities, and economic development ventures that strengthen neighborhoods, improve education, and increase jobs–ultimately providing greater opportunities for the low-income residents in these communities. At the same time, it enables investors, financial institutions and grantors to meet their social investment goals.
New Jersey Community Capital is the trade name utilized by Community Loan Fund of New Jersey, Inc. and its affiliates for its financial and consulting products and services. The Community Loan Fund of New Jersey, Inc. is a Community Development Financial Institution (CDFI) certified by the U.S. Department of Treasury and the only one serving the entire State of New Jersey.
Since its founding in 1987, New Jersey Community Capital has made more than 730 loans totaling nearly $310 million, helping to house, educate, train, and employ thousands of New Jerseyans. For more information, visit: http://newjerseycommunitycapital.org.
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