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Nation's Leading Community Development Support Organization Names Three New Board Members

15 Oct 2007

Phyllis R. Caldwell, Lisa Cashin and Linda Knight join LISC's board of directors

NEW YORK—Local Initiatives Support Corporation (LISC), the nation's leading community development support organization, today announced that Phyllis R. Caldwell, Lisa Cashin and Linda Knight have been elected to its national board of directors.

Phyllis R. Caldwell is president of community development banking at Bank of America, where she is responsible for community development lending and investment strategies. Her staff provides financial solutions for affordable housing, economic development and urban redevelopment projects throughout the bank's 31-state franchise. Prior to joining Bank of America in 1997, Caldwell was commercial real estate relationship manager with Citicorp, now Citigroup. She has an undergraduate degree from the University of Maryland with a major in sociology and urban planning, and a master's in business with a concentration in finance. She is vice chair on the board of directors for the Low Income Investment Fund and serves on the board of the Cultural Development Corporation in Washington, DC.

Lisa Cashin is no stranger to LISC, having been director of underwriting at the company from 1988 until her retirement earlier this year. Prior to joining LISC she worked in various capacities at Citigroup Investment Bank, Chemical Bank, the Boston Redevelopment Authority, Gammon Properties in Hong Kong, the United Nations Center for Housing, and Building and Planning in NYC. She has a bachelor's degree in urban anthropology from Harvard College and a master's in city planning from the University of California at Berkeley. Cashin, a generous LISC supporter as well as a former employee, is on the boards of Deerfield Academy, the American Ballet Theater, the International Tennis Hall of Fame, and Prep for Prep, which trains about 200 New York City public school students annually to enter private, day and boarding schools prior to college.

Linda Knight joined Fannie Mae in 1982 as a senior market analyst and since then has held a variety of positions within the company. She's currently executive vice president – Enterprise Operations, in which she oversees teams that support single-family housing, housing and community development, and capital markets. Prior to joining Fannie Mae she was vice president of Alliance Capital Management Corporation, where she managed corporate pension fund fixed-income portfolios for Fortune 500 clients, established fixed-income investment strategy, and created and directed investment strategy for Alliance's first money market mutual funds. Earlier, she was an assistant vice president with Bankers Trust Company, responsible for managing fixed-income corporate pension fund accounts and pooled mortgage portfolios. Knight has a bachelor's degree in economics from Smith College.

"We're fortunate to have Phyllis, Lisa and Linda—with their extraordinary variety of experience—on our national board," said Michael Rubinger, LISC's president and CEO. "They'll provide invaluable advice and oversight as we embark on our strategy of creating sustainable communities nationwide."

About LISC

LISC combines corporate, government and philanthropic resources to help community-based organizations revitalize underserved neighborhoods. Since 1980, LISC has raised more than $7.8 billion to build or rehabilitate more than 215,000 affordable homes and develop 30 million square feet of retail, community and educational space nationwide. For more information, visit www.lisc.org.

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Article Type: Press Release