Tim Penny Retiring as CEO of Southern MN Initiative Foundation

Former Minnesota U.S. Representative Tim Penny will retire later this year from his post as chief executive officer of the Southern Minnesota Initiative Foundation. The former lawmaker say he plans to stay on while foundation board members search for a new CEO.

The Southern Minnesota Initiative Foundation is one of six Minnesota-based foundations started by the McKnight Foundation during the 1980s farm crisis to help boost greater Minnesota’s economic development.

The group reportedly has invested more than 170-million-dollars in the state’s southern communities over the past 38 years.