The affordable housing industry lost one of its founding giants in the passing of David Reznick on New Year’s Eve. As important, the world lost a smart, funny (make that really funny) and always ethical person, someone who became a trusted advisor and friend to countless companies and individuals. David had great wisdom, judgment and character. He was not only a consummate professional, he was a great friend. He mentored countless people in his firm, the industry and in his community. David touched literally thousands of lives through his work and in his personal life. This was reflected in the fact that hundreds of people from the local community and from literally all over the country—from California, Texas, New England and many other places—traveled to attend David’s funeral this past Sunday. There was not a dry eye at the service as those delivering eulogies recounted his life, but in remembering David, we also recalled that unbelievable sense of humor and energy. We lost David much too soon as he was 77 years old when he passed away. Only days before his passing, his mind was sharp, his humor ever present, even as the ravages of his cancer was overtaking his body.
David Reznick founded Reznick Fedder & Silverman in 1977; later, the firm changed its name to The Reznick Group. As David would say, in his characteristically humorous way, “Fedder retired and Silverman changed his name to ‘Group’”. Several years ago, the firm merged to form CohnReznick, the tenth largest accounting firm in the country. David’s name was on the door until the very end.
David’s impact on the low-income housing tax credit was huge. When Congress was first considering enactment of the program, it was David and his colleagues who continually ran numbers to try to understand whether the program would be financially feasible. That work convinced the Congress to increase the amount of Credit for which a property would be eligible; David’s early and ongoing advice is one of the key reasons the program has been so successful. Reznick Fedder & Silverman was one of the pioneers in the accounting profession for Housing Credit transactions, cost certifications and audits. David’s firm was an early member of the Affordable Housing Tax Credit Coalition and its membership and active involvement on the Board continue to this day through the work of Beth Mullen and Bob Moss. David was an expert on accounting for HUD financed and assisted properties as well and his impact in that area is equal to his influence in the housing credit world. David was honored numerous times as well in the Washington, DC area for his contributions to business and charitable endeavors.
David is survived by his wife of 39 years, Sandy, by four children and nine grandchildren; family was always David’s highest priority. For those wishing to make a donation in David’s memory, the family has asked that contributions be made to the newly established David Reznick Memorial Foundation for Housing and Community Services, Inc. or to Yachad, an organization with which David was deeply involved in providing affordable housing in the DC area. The addresses are as follows:
David Reznick Memorial Foundation for Housing and Community Services
1400 16th St. NW, Suite 420
Washington, DC 20036
1666 Connecticut Ave., NW, Ste. 500
Washington, DC 20009
David’s life was a blessing for his family, his community and his industry. He will be deeply missed. May God bless David Reznick.
Todd Crow, President
Rick Goldstein, Counsel