The New York City Housing Development Corp.'s board on March 3 approved the appointment of Gary Rodney as president.
Mayor Bill de Blasio nominated Rodney, who will play a key role in implementing the administration's vision of creating and preserving 200,000 units of affordable housing over a decade.
Rodney, who served various roles at the corporation from 2001 to 2006, most recently was executive vice president for development at Omni New York LLC, a real estate development company focusing on affordable housing.
He received his bachelor's degree from the University of Rochester in 1997 and a masters in urban planning from New York University's Robert F. Wagner Graduate School of Public Service in 1999.
According to Thomson Reuters, HDC topped all affordable housing bond issuance for 2013, issuing almost $1.85 billion -- the most ever for the agency -- including three of the 10 largest housing issues.
In 2013, it issued almost $675 million in new money private activity bonds, $230 million in recycled bonds, $140 million in taxable bonds and $142 million in refunding bonds. In addition, HDC transferred more than $112 million of recycling proceeds to New York State Housing Finance Agency, helping free up additional volume cap for affordable housing projects.
HDC-provided financing in 2013 totaled $1.371 billion in new money and more than $164 million in corporation subsidy funds, of which $120 million was funded from HDC reserves. This financing led to the construction of 4,382 units of affordable housing and the preservation of 3,253 units.
Not counted in these totals was HDC's largest 2013 deal, which provided the New York City Housing Authority with funds to perform repairs at up to 40 of its developments, according to a corporation official.
That deal alone combined a $500 million new issue with a $200 million refunding of debt issued in 2005, according to the official.
