MILWAUKEE (AP) — Philanthropist Joseph Zilber plans to commit $50 million during the next 10 years to improve life in Milwaukee’s low-income neighborhoods, according to a draft of a speech by him obtained by a newspaper.

Zilber, 90, who became wealthy as a real estate developer in Milwaukee and elsewhere, scheduled a news conference today for a “major announcement” regarding the city’s future.
The Milwaukee Journal Sentinel said that, according to the draft of his remarks to be delivered today, the goal of the effort is “to revitalize Milwaukee’s neighborhoods and reconnect all of her citizens to social and economic opportunity.”

The newspaper said the Zilber is aiming to spark at least $150 million in additional grants by others, including philanthropists, businesses and foundations, with the goal of creating a $200 million pool of resources to benefit Milwaukee.

Milwaukee Mayor Tom Barrett called the action “an unbelievably generous gift from Joe Zilber to this city.”

“I do think this will have a catalyst effect,” he said, adding that he had been working with Zilber for several months on the idea and that additional foundations, corporations and others will come forward to participate.

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