Tuesday, November 21, 2017

John G. “Jack” Markowski

President & CEO

 John G. (Jack) Markowski is President of Community Investment Corporation (CIC), the leading source of loans for the rehabilitation of multifamily residential buildings in the Chicago area. Capitalized by investments from 45 financial institutions, since 1984, CIC has originated $1.3 billion in loans for the acquisition and rehabilitation of 2,200 buildings with 58,000 units. Markowski also serves as President of Community Initiatives Inc., an affiliate of CIC, which, through receiverships and the acquisition of troubled properties, directly intervenes in the preservation of affordable rental housing. Since April 2011, Markowski has served as Chairman of The Preservation Compact, a regional initiative to preserve affordable rental housing in Cook County. Markowski is a board member of the Chicago Housing Authority and is Chairman of the National Association of Affordable Housing Lenders.

From 1999 through June 2007, Markowski served as Commissioner of the Chicago Department of Housing. During his tenure, the Department spent more than $3 billion to assist more than 100,000 housing units in Chicago, including more than 5,200 SRO units, 5,700 units for senior housing, and 2,000 new single family homes. In addition to overseeing the administration of Low Income Housing Tax Credits and the country’s largest locally funded rental subsidy program, Markowski dramatically increased the Department’s use of tax-exempt bonds and Tax Increment Financing. He helped to enact legislation in support of affordable housing, including the Illinois Donations Tax Credit, the Statewide Mortgage Document Recording Fee (for rental subsidies), the Chicago Downtown Density Bonus, and Chicago’s Affordable Requirements Ordinance.

From 1981 to 1990, Markowski served as Executive Director of the Edgewater Community Council, which under his leadership, reversed a cycle of decline and stimulated more than $55 million in investment and rehabilitation of 5,200 units of housing in the Winthrop-Kenmore corridor.

Markowski holds a bachelor’s degree from the University of Chicago and a master’s degree in Urban and Regional Planning from the University of Oregon. He is a longtime resident of Chicago’s Edgewater community.