News Releases

Community Investments Bring Affordable Housing to North Lawndale
Harris and Lawndale Christian Development Corp. Celebrate Collaboration, Creativity

CHICAGO, Nov. 12 – Representatives from the Lawndale Christian Development Corp. (LCDC) and Harris Bank will be joined today by local elected officials for the unveiling of a 23 by 46 foot outdoor mural, a collaboration that serves as the culmination of a two-year, $10 million partnership to bring much-needed affordable housing to North Lawndale.

The mural adorns the side of 3700 W. Douglas, part of Renaissance Apartments – a 54-unit, three-building affordable housing development. In July 2007, Harris and affiliate BMO Capital Markets provided LCDC critical financing to purchase the foreclosed properties, which were targeted as part of a neighborhood redevelopment plan. In addition to providing a line of credit for renovation-related construction draws, Harris sponsored LCDC’s Affordable Housing Program Award from the Federal Home Loan Bank of Chicago to further fund the project.

“It pleases me to announce today that Renaissance Apartments are 100 percent leased,” said Kim Jackson, executive director, LCDC. “We thank our partners in this project, including Harris Bank, for their cooperation, generosity, and commitment to bring quality affordable housing to Lawndale.”

“At Harris, community investment is about giving time and energy to foster healthy communities,” said Yasmin Bates-Brown, executive vice president, Community Affairs and Economic Development, Harris Bank. “Two touchstones of strong communities – artistic endeavors and affordable housing – are realized through this partnership. We thank LCDC for the opportunity to engage employees and enrich the community.”

In addition to providing financial support, Harris engaged employees to help complete the mural as part of the bank’s 2009 Employee Volunteer Day. On June 11, a team of employees came together with area youths to work on the mural, which was designed by local artist Ella Baccus and is part of the North Lawndale Public Arts Corridor beautification strategy.

The outdoor mural adds to Chicago’s impressive assortment of public art, including the Picasso sculpture in Daley Plaza and Alison Saar’s Monument to the Great Northern Migration in Bronzeville.

About Lawndale Christian Development Corporation (LCDC)

Lawndale Christian Development Corporation was established in 1987 to bring holistic revitalization to the lives and environments of Lawndale through economic empowerment, housing improvements, educational enrichment and community advocacy. In the last 12 years, LCDC has brought more than $60 million in redevelopment to the North Lawndale community including an award-winning $3.1 million childcare facility (Jubilee Family Resource Center) which serves 220 children and employs 50 people.  LCDC’s 31-computer state-of-the art Technology Center provides critical technology access and training to youth and adults in North Lawndale which hosted 7800 visits by community residents. LCDC also serves as the lead agency in North Lawndale for LISC’s New Communities Program, and is working with a group of residents and community organizations around the development and implementation of a long-term plan for community revitalization.  As a part of this process, LCDC has served as a catalyst for the start-up of 12 small businesses and has initiated a community-led plan to bring commercial and mixed use development to Ogden Avenue and to 16th Street in North Lawndale.

About Harris

Harris is an integrated financial service organization providing more than 1.2 million personal, business and corporate clients with banking, lending, investing and wealth management solutions. The organi zation is a member of the BMO Financial Group (NYSE,TSX: BMO), which also provides corporate and investment banking services in the U.S. under the BMO Capital Markets name.

Harris^®is a trade name used by various financial service subsidiaries of Harris Financial Corp. Banking products and services are provided by Harris N.A., The Harris Bank, N.A. and their bank affiliates, Members FDIC. Brokerage products are offered through Harris Investor Services, Inc. (HIS), a registered broker/dealer, member FINRA/SIPC, and SEC-registered investment adviser. Insurance and annuities are offered through Harris Bancorp Insurance Services, Inc. (HBIS). Investment banking services are provided by BMO Capital Markets Corp. (BMOCM), a registered broker dealer and member NYSE, FINRA and SIPC. HIS, HBIS and BMOCM are affiliated companies and are wholly owned subsidiaries of Harris Financial Corp. Products offered by HIS, HBIS and BMOCM are Not Insured by the FDIC or any Federal Government Agency, Not a Deposit of or Guaranteed by Any Bank or Bank Affiliate, May Lose Value. The purchase of insurance or an annuity is not a condition to any bank loan or service. Financial planning and investment advisory services are provided by Sullivan, Bruyette, Speros & Blayney, Inc., an SEC registered investment adviser. Family Office Services are provided by Harris myCFO, Inc. Investment advisory services are offered by Harris myCFO Investment Advisory Services LLC, a SEC-registered investment adviser and wholly-owned subsidiary of Harris myCFO, Inc. Investment advisory services to institutional clients are provided by Harris Investment Management (HIM), a SEC-registered investment adviser. Not all products and services are offered in every state and/or location.

Rachel Gerds (312) 461-7865