For Immediate Release:
Washington, DC—November 19, 2013—Jack Manning, co-founder of Boston Capital, the largest owner/ investor in apartment housing in America and a pioneer in government advocacy for affordable housing, and Vincent F. O’Donnell, spearhead of a national initiative to save at-risk affordable housing in America, have been awarded the 2013 and 10th Annual Affordable Housing Vision Awards by National Housing & Rehabilitation Association. Popular innovators and visionaries, Mr. Manning and Mr. O’Donnell were recognized for their years of dedication, stewardship, and professional contributions in the affordable housing and community development industry at a ceremony in Boston on November 13.
Left: Paul Grogan, The Boston Foundation, Presenter; Jack Manning, Co-Founder and CEO of Boston Capital Corporation, Awardee for Private Sector Achievement; Vince O’Donnell, Former Vice President of Affordable Housing Programs at Local Initiatives Support Corporation, Awardee for Public Sector Achievement; David Abromowitz, Goulston & Storrs, Presenter
“I am truly inspired by the work of Jack Manning and Vince O’Donnell,” says Thom Amdur, Executive Director of NH&RA. “Through Jack’s commitment to Congressional advocacy and his instrumental involvement in the creation of the housing credit and through Vince’s perseverance as a non-profit affordable housing preservation leader, both men have devoted their careers to improving the lives of millions of less fortunate individuals and families. They have exhibited great foresight, incredible success, and more importantly, have set an excellent example for future leaders in the industry.”
Jack Manning formed Boston Capital Corporation in 1974 along with now-retired partner Herb Collins to provide equity investment capital for the development of rental housing. Over the last 37 years, Boston Capital has acquired more than 3,100 multifamily apartment properties with over 190,000 apartment units with development costs in excess of $15 billion. Manning and his staff were also instrumental in the creation of the Low Income Housing Tax Credit (LIHTC) program when it was enacted by Congress in 1986.
Manning attributes his success in both the business world and in Washington to his persistence, unwavering determination, and willingness to build and maintain Congressional relationships. “Over the years, we’ve learned that fostering political relationships is equally as relevant and important to furthering the programs most important to the affordable housing industry,” said Manning during his acceptance speech for the 2013 Vision Award for Private Sector Achievement. “Our greatest political achievements have been realized through simply inviting Congressional members to LIHTC properties so they can see and feel its impact or sending letters after a deal closes indicating the number of units and jobs being created in a district. If a member understands what a property does for their community, they are more likely to fight to maintain the program that assisted in its development,” he said.
Vince O’Donnell, who recently retired as Vice President of Affordable Housing Programs at the Local Initiative Support Corporation (LISC), has dedicated his career to not-for-profit entities and community activism, previously serving at Massachusetts’ Community Economic Development Assistance Corporation, Homeowner’s Rehab, Inc. and Cambridge (Mass.) Neighborhood Apartment Services.
“The success of the low-income housing industry is really no accident,” says Vince O’Donnell. He continued after accepting the 2013 Vision Award for Public Sector Achievement, “Over the years, we have benefitted from the fortitude and determination of committed professionals, advocates and tenant activists to resolve issues and overcome challenges. However, moving forward as the industry changes, past and future leaders must continue to embrace and evoke a unique combination of passionate determination and disciplined restraint in order to successfully steward the industry through a new era of adversity.” Mr. Manning and Mr. O’Donnell join other distinguished and accomplished NH&RA Vision Award honorees, including Kate Racer from the Massachusetts Department of Housing and Community Development, Mayor Thomas Menino from the City of Boston, and the Honorable Barney Frank former U.S. Representative from the state of Massachusetts. A complete list of previous honorees can be found below.
NH&RA is the leading national trade organization for affordable housing and tax credit developers. Its membership is comprised of developers, owners, managers and professionals involved in the development, operation and finance of our nation’s affordable housing, certified historic rehabilitation projects, renewable energy facilities and New Markets Tax Credit financed businesses. Learn more about NH&RA at www.housingonline.com.
Complete List of Previous Vision Awardees:
2004—John Corcoran, John M. Corcoran Company
Kate Racer, Massachusetts Department of Housing and Community Development
2005—Jerry Flannelly, MMA Financial LLC
Aaron Gornstein, Citizen’s Housing and Planning Association (CHAPA)1
2006—Marty Jones, Corcoran Jennison Companies2
Mayor Thomas Menino, City of Boston
2007—Amy Anthony, Preservation of Affordable Housing (POAH)
Herb Collins, Collins & Company LLC
2008—U.S. Representative Barney Frank, Democrat, Massachusetts
Larry Curtis, Winn Development
2009—Lisa Alberghini, Planning Office for Urban Affairs
David A. Smith, Recap Advisors3
2010—Tina Brooks, Massachusetts Executive Office of the Governor4
Howard Cohen, Beacon Communities
Ed Fish, E.A. Fish Companies, In Memoriam
2011—Sandra Henriquez, HUD Assistant Secretary for Public and Indian Housing
John Mackey, CohnReznick
2012—James Keefe and Patrick Lee, Trinity Financial, Inc.
Patrick Clancy, The Community Builders
Press Contact: Thom Amdur, Executive Director
National Housing & Rehabilitation Association
202-939-153 or firstname.lastname@example.org
Videos of the awards ceremony and more information about the Vision Awards can be found at /about/affordable-housing-vision-awards/.
1Mr. Gornstein currently serves as Undersecretary for Housing and Community Development, in the Massachusetts Executive Office of the Governor
2Ms. Jones currently serves as President & CEO of MassDevelopment
3Recap Advisors was formerly known as CAS Financial Advisory Services
4Ms. Brooks currently serves as Executive Vice-President for Programs at the Local Initiatives Support Corp (LISC)