One Billion Dollar Mark

The HIT's net assets surpass $1 billion. This growth reflects pension investors' confidence in the HIT and a growing interest in socially responsible investing. The HIT is able to help pension plans achieve competitive returns while also meeting housing and employment goals important to their pension beneficiaries.

30 Years of Investing

The HIT celebrates the 30th anniversary of the AFL-CIO investment program, one of the first national vehicles for the investment of union members' pension funds in job-generating housing and real estate-related projects.

AFL-CIO Leadership Changes

Thomas DonahueAFL-CIO Secretary-Treasurer Thomas R. Donahue succeeds Lane Kirkland as acting President of the AFL-CIO as Kirkland retires. Donahue, who came out of the Service Employees International Union in New York, was first elected as Secretary-Treasurer of the AFL-CIO in 1979 and previously served as executive assistant to AFL-CIO President George Meany.

1995 AFL-CIO ConventionAt the AFL-CIO Convention later this year, John J. Sweeney is elected President of the AFL-CIO on a platform of revitalizing the federation. At the time of his election, the New York native is in his 15th year as President of the Service Employees International Union, which grew from 625,000 to 1.1 million members during his leadership. Sweeney is also one of the original members of the HIT Board of Trustees, to which he was appointed in 1981. Elected to AFL-CIO leadership positions along with John Sweeney are Executive Vice President Linda Chavez-Thompson and Secretary-Treasurer Richard Trumka.

Restructuring HUD

Congress considers abolishing HUD. Secretary Henry Cisneros presents a "reinvention blueprint" calling for fundamental restructuring of HUD programs.

Second Round of HUD Funding

Trumka New Pennley PlaceThe HIT is awarded $67.3 million in additional Section 8 budget authority in the second funding round of HUD's Section 8 Community Investment Demonstration Program. Together with the 1994 allocation, the HIT is awarded a total of $115 million in Section 8 budget authority. With $64 million of its own financing, the HIT leverages more than $130 million of additional financing to develop 18 affordable housing projects across the country, creating 1,970 housing units.