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

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LaRhesa Christmas

For Immediate Release
Release Date: 
Mon, 06/27/2011

Hampton Roads Ventures, LLC (HRV) today announces that Robert K. Jenkins, Jr., will transition from his current position as CEO effective June 24, 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-used 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.”
About HRV
Hampton Roads Ventures, LLC, a subsidiary of the Norfolk Redevelopment and Housing Authority, is a community development investment firm specializing in attracting private-sector investment capital into innovative economic community development projects in under-served communities, particularly lower income urban and rural communities. HRV works closely with local business, governmental and civic leaders to identify investment opportunities that will be a catalyst for additional private sector investment and development. For more information, visit
About the New Markets Tax Credit Program
The NMTC Program, established by Congress in December 2000, provides individual and corporate taxpayers with a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs).  Substantially, the CDE must use all of the taxpayer's investment to make qualified investments supporting certain business activities in low-income communities.  More information on the NMTC program:

About NRHA: 

Founded in 1940, NRHA is a national leader in community revitalization and fostering sustainable mixed-income communities. As the largest redevelopment and housing authority in Virginia, NRHA plays a key role in making Norfolk the city of choice to build, work, live and play.

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