An immigrant from Romania growing up in Brooklyn, Winnick spent his life helping to improve low-income urban neighborhoods.
After stints as research director of the New York City Planning Commission and the Housing and Redevelopment Board in the late 1950s and early 1960s, Winnick went to the Ford Foundation in 1962, serving from 1968-86 as deputy vice president in the National Affairs division.
"He was credited with steering the foundation toward making low-interest loans and equity investments in low-income urban areas. Ford, like other foundations, had previously focused on grants only, believing that investing and philanthropy should be separate."
"Winnick also promoted the idea that low-income home buyers could be reliable borrowers with properly structured loans. A demonstration loan project in Pittsburgh spurred mortgage lending in poor neighborhoods nationally."
FULL STORY: Economist Louis Winnick dies at 85
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