HRV Bids Farewell to Founding CEO, Transitions to New Leadership Team

Hampton Roads Ventures today announces that Robert K. Jenkins, Jr., will transition from his current position as CEO to a new role as strategic consultant and adviser to the new CEO, John Kownack.
June 28, 2011 - PRLog -- Hampton Roads Ventures, LLC (HRV) today announces that Robert K. Jenkins, Jr., will transition from his current position as CEO effective July 1, 2011 to a new role as strategic consultant and advisor to the new CEO. HRV also announces the appointment of John Kownack as the new CEO and Terri Giuliana as CFO. The transition process is already in progress to ensure a smooth transfer of Jenkins’ daily responsibilities to Kownack.

Jenkins, an experienced tax attorney, is an industry leader and pioneer. Under his leadership, HRV, a subsidiary of the Norfolk Redevelopment and Housing Authority (NRHA), was the first firm in Virginia to receive an allocation of New Markets Tax Credits (NMTC) and the first in the country to develop a successful strategy to use NMTC in tandem with tax-exempt bond financing and to use NMTC with U.S. Department of Housing and Urban Development (HUD) funds.

“This was a difficult decision indeed,” said Jenkins. “I’ve been extremely lucky to have sustained a career in a field that I am most passionate about. There are many challenges to building and maintaining sustainable successful communities across the nation and HRV has been able to put its stamp on finding innovative solutions to many of those challenges. As I prepare for this change, I firmly believe the road ahead for HRV is as bright as ever.”

Kownack and Giuliana have extensive experience in repositioning real estate properties through complex mixed-use finance transactions involving federal and state tax credits combined with bonds and other sources of debt and equity capital.

Kownack joined NRHA in 2001 and currently leads an inter-disciplinary team charged with transforming Norfolk’s assisted-rental communities to sustainable, mixed-income neighborhoods as the Chief Housing Reinvention Officer.  Prior to his present assignment, Kownack was responsible for compliance and plan development for Norfolk’s redevelopment and conservation neighborhoods, and has served as the interim head of NRHA’s Development and Housing Operations divisions.  Before joining NRHA, Kownack completed 19 years of service with the City of Norfolk as Fiscal Division Manager and Assistant Director of Human Services.

Giuliana also joins HRV from NRHA where she serves as Housing Reinvention Operations Director. She came to NRHA with 17 years of work experience in private sector financial and legal positions. Currently, Giuliana manages mixed finance development budgeting and financial operations, and supervises grant management, financial administration, budget administration, program compliance and reporting.

“John and I are confident we’ve got a great team that will step up and drive HRV forward without missing a beat,” said W. Sheppard Miller, III, HRV Board Chairman. “We will continue to tackle the biggest challenges and opportunities for our clients and communities we serve by continuing to create successful projects through innovative financing strategies and solid project commitment.”

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HRV is a community development investment firm specializing in attracting private-sector investment capital into innovative economic community development projects in underserved communities (lower income urban and rural communities).
Source:Anesnah Design & Marketing
Phone:866-977-5111 (1)
Tags:Affordable Housing, Community Development, Low Income, New Markets Tax Credits, Redevelopment, Hud
Industry:Finance, Real Estate, Government
Location:Virginia Beach - Virginia - United States
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