Legacy Redevelopment Corp. names Terese Caro President and CEO and adds new staff and board members

July 15, 2021

Legacy Redevelopment Corporation (LRC) has promoted Terese Caro to president and CEO, and added two new staff members and three new board members.

Caro joined LRC in July 2016 as vice president and chief lending officer. She was named president in March 2020, and president and CEO in May 2021. Ms. Caro has spent nearly 30 years in banking and finance, managing a diverse portfolio valued at more than $500 million in loans and assets. Under her leadership, LRC has expanded lending into Racine, WI, earned new capital and grants of nearly $3 million, and forged partnerships with LISC Milwaukee’s Brew City Match and the Greater Milwaukee Foundation.

Errol Barnett joined the LRC team as chief lending officer in May 2021, bringing more than 30 years of commercial banking experience to his role, including managed assets, community, and correspondent banking. He has extensive experience in government guaranteed loan programs. At LRC, he is responsible for fostering new relationships and managing a diverse portfolio of loan products.

Also in May 2021, Lakeytheia Stribling-Dantzler joined LRC as administrative services officer. She is responsible for overseeing accounts payables and receivables, cost reports, government reporting, budgets, and grant proposals. Stribling-Dantzler has more than 18 years of experience in customer service, lending and finance.

“We’re thrilled to have Errol and Lakeytheia on staff,” Caro noted. “Each of them has unique talents, experiences, and passions that will allow LRC to continue our mission to provide strategic lending solutions and ongoing support to Milwaukee’s small businesses and nonprofit organizations to foster financial independence, sustain growth, and revitalize communities.”

LRC also welcomes three new members to its board of directors: Nikki Purvis, chief equity officer, City of Milwaukee, Office of Equity and Inclusion; Marjorie Rucker, executive director at the Business Council Inc.; and Michael Katz, former owner of Molded Dimensions. After years of service, Sharon Adams, Walnut Way Conservation Corp., and Rev. Louis E. Sibley, III, Mount Zion Missionary Baptist Church, have stepped down from their roles on the LRC board. Their long-standing relationship with LRC continues, along with their ongoing and tireless efforts to engage Milwaukee residents and improve our community.

“Nikki, Marjorie, and Michael bring diverse skills and knowledge to our board, which will help us greatly as we continue to expand our financial footprint throughout Milwaukee,” noted Dick Lincoln, LRC board president. “And on behalf of the entire board, we owe a debt of gratitude to Sharon and Rev. Sibley for their tremendous contributions over the years,” he said.