Kenneth Schuman

Kenneth S. Schuman served as executive director of New York City's Office of Economic Development and as NYC Commissioner for Economic Development under Mayor Edward I. Koch from 1978 to 1981, during the period following the city's brush with bankruptcy. After Deputy Mayor Peter J. Solomon’s departure in June 1980, Schuman was New York City's top economic development official until the appointment of Karen N. Gerard as Deputy Mayor in February 1981. Schuman continued serving as Commissioner until December 31, 1981 In addition, Schuman was executive director of the Queens County Mental Health Society and the first executive director of the Lower East Side Family Union, an innovative social services agency helping to prevent unnecessary foster care placement of children.

In retirement he co-founded, with his wife Wendy, the nonprofit coaching program Grad Life Choices, which enlists over 100 volunteer coaches to help young college grads begin their career journey, and he wrote books on career development and on the life of Michelangelo.

Early life and education Kenneth S. Schuman was born in Brooklyn, NY on December 18, 1943, to Arthur Schuman, president of Fidelity Insurance Company, and Florence (Berger) Schuman. He was raised along with his brother Allan in Rockville Centre, NY and graduated from Hamilton College. He went on to receive a Master of Business Administration degree from Columbia University and a Master of Social Work from the Silberman School of Social Work at Hunter College.

Career

Social Work In 1970, Schuman was hired as assistant director of Hudson Guild, a settlement house providing a wide array of social services to low-income residents of the Chelsea section of Manhattan. Schuman obtained funding from The New York Community Trust to institute a program for prevention of teen alcoholism and was among the local leaders advocating for community-based programs, including halfway houses.

Government

In 1978, Schuman was hired by Peter J. Solomon, New York City's Deputy Mayor for Economic Policy and Development, to work as his assistant. He was soon after promoted by Solomon to deputy director and then executive director of the NYC Office of Economic Development. And in 1979 he was appointed Commissioner for Economic Development of New York City. As Commissioner, Schuman oversaw efforts to retain and attract business and support economic activity throughout the city. He helped enable development of the Times Square theater district, including a new 2,000-room hotel, as well as the South Street Seaport in lower Manhattan and Astoria Studios in Queens.

He also oversaw programs to revitalize community commercial areas (such as Borough Park and Fulton Mall in Brooklyn), and industrial parks in deteriorated areas (such as the Lyons Industrial Park in the South Bronx). In addition, Schuman helped negotiate the purchase of the Brooklyn Army Terminal from the federal government for redevelopment as an industrial complex.

As chairman of the NYC Industrial & Commercial Incentive Board, Vice Chairman of the NYC Economic Capital Corporation, and board member of the South Bronx Development Corporation, Schuman encouraged industrial and commercial development in the outer boroughs through the use of tax abatements and low-cost financing while restricting tax breaks in midtown Manhattan.

Business In 1982 Schuman moved from his position as NYC Commissioner to vice president at Lehman Brothers where his primary focus was on mergers and acquisitions and equity and debt financing.

In 1983 along with two associates, he founded Affordable Living L.P. to develop housing for low- and moderate-income families. This work and that of a subsequent company, American Newlands, of which he was also co-founder, resulted in the development of thousands of housing units, primarily in New Jersey. The Grad Life Choices program has over 100 certified life and career coaches helping grads figure out their career direction and then get started on that career.