CHICAGO – Governor Rod Blagojevich today announced the appointment of William (Bill) A. Brandt, Jr., as Chairman of the Illinois Finance Authority. Mr. Brandt’s appointment was unanimously confirmed by the Illinois Senate. Mr. Brandt will serve in a term that runs through January 1, 2010.
“Bill Brandt understands how public investments can spark the kind of growth and opportunities that will benefit communities across our state for years to come. I am pleased to have someone with his depth of experience and insight at the helm of the Illinois Finance Authority,” said Gov. Blagojevich.
The Illinois Finance Authority (IFA) is a self-financed, state authority principally engaged in issuing taxable and tax-exempt bonds, making loans, and investing capital for businesses, non-profit corporations, agriculture and local government units statewide. The IFA approves about $3 billion in project financing each year. Since its formation in 2004, IFA has financed over 640 projects representing $11.7 billion in capital investment. In 2007, the IFA ranked among the top 20 municipal issuers nationwide, and a top issuer in the Midwest.
“I am honored to be appointed to this important position. The IFA has a great opportunity to help the people of this state by serving as an agent for job creation and growth,” said Mr. Brandt. “The IFA’s mission is to stimulate Illinois’ economic development through the creative use of issuing bonds and loans. I am confident that we will do just that in an innovative and forward-thinking manner that focuses on benefiting everyone in the state.”
Mr. Brandt is President and CEO of Development Specialists, Inc. (DSI), a national firm specializing in the provision of management, consulting and turnaround assistance to troubled or reorganizing enterprises. With over 30 years in the field, Mr. Brandt is widely acknowledged as one of the foremost practitioners in the area of corporate restructuring, bankruptcy and related public policy issues. Mr. Brandt serves as a member of the National Advisory Council for the Institute of Governmental Studies at the University of California at Berkeley, while also serving as a member of the Board of Trustees of Loyola University Chicago. He currently resides in the Chicagoland area.
The Illinois Finance Authority is an issuer of conduit debt for the benefit of 501(c)(3) corporations including not-for-profit healthcare, higher education, cultural and social service entities, units of local government, manufacturing and agricultural facilities, environmental undertakings and other economic development projects of the state.
The mission of the IFA is to be proactive in its use of bonding authority to support the state’s plan for growth and address the specific needs of Illinois’ local industries and communities. The IFA board consists of 15 non-paid members appointed by the Governor and confirmed by the Illinois Senate.