The Illinois Hispanic Chamber of Commerce (IHCC) congratulates Illinois Governor JB Pritzker for appointing three outstanding Hispanic finance experts to the Illinois Finance Authority (IFA) Board of Directors
Peter Amaro, Eduardo Tobon, and Jose Restituyo were officially appointed in September and will participate in their first Board meeting on November 10, 2020.
Two other Hispanics were joined, James J. Fuentes and Roxanne Nava, who were already on the agency’s Board of Directors. Now, five of the 15 members of the Board of Directors are of Hispanic origin.
The Governor’s decision fulfills his commitment to placing more Hispanic professionals and talent in Illinois’ agencies and organizations, reflecting the growth of our community, and doing justice to the contribution of Hispanic-owned small businesses to economic and social development.
We have worked very hard, and will continue to do so, to have our talents recognized; Hispanics have earned the right to participate in political and economic decision making as we are the first minority to contribute like no one else to Illinois’ economic development,” said Jaime di Paulo, IHCC’s President & CEO.
The IHCC also thanks our friend Lisa Duarte, First Assistant Deputy Governor – Budget & Economy, for her continued support of our business community and proposing the names of the three new members to Illinois’ Finance Authority Board of Directors’ Governor.
“Lisa and Governor Pritzker are honoring their word,” added di Paulo
The Illinois Finance Authority is one of the largest issuers of private activity bonds in the country.
Private Activity Bonds (PABs or infrastructure bonds, which are exempt from federal taxes) allow charities and 501(c)(3) organizations to fund their infrastructure projects with access to capital at generally lower interest rates and longer maturities, creating long-term projects and generating greater economic value for communities throughout Illinois.
These bonds allow the construction of:
- Hospitals and health care systems.
- Research universities, colleges, and charter schools.
- Museums and cultural institutions.
- Organizations that provide housing for the elderly, students, and homeless workers.
PABs also allows several qualified businesses or facilities (small farmers and manufacturers, solid waste disposal, and regionally important logistics facilities) to access capital as well.