Executive Interview: Jeff Simonetti

Jeff Simonetti is a Vice President at the Kosmont Companies. The thumbKosmont Companies provides real estate and economic development consulting to both public and private clients, primarily in the state of California.

Jeff has over 10 years of experience in real estate development and state and local government issues. He has a Masters of Business Administration in Finance and Entrepreneurship from Boston University and a Bachelor of Arts in Politics, Philosophy, and Economics from Claremont McKenna College.

  1. Tell us about your position at the Kosmont Companies and some of your roles and responsibilities.

As a Vice President of the Kosmont Companies, I have focused on two areas of our practice: Infrastructure finance and post-redevelopment services. Since Governor Jerry Brown abolished Redevelopment Agencies (RDAs) in 2011, all former RDAs need to generate plans to dissolve redevelopment assets and sell properties that they do not plan to keep. The Kosmont Companies helps the Successor Agencies (to the former Redevelopment Agencies) create plans to dissolve RDA assets. These plans are called Property Management Plans (PMPs). The abolishment of redevelopment agencies has also changed the way that California cities finance needed infrastructure. We help cities and jurisdictions find innovative financing solutions to deliver needed infrastructure in the post-RDA environment.

  1. How does your educational background and work experience help you fulfill your current roles?

There is a lot of overlap between what I work on at the Kosmont Companies, my educational background and prior work experience. I actually met Larry Kosmont (President and CEO of The Kosmont Companies) when I was a student at the Claremont McKenna’s Rose Institute. Larry Kosmont has a joint partnership with the Rose Institute to manage the “Kosmont-Rose Cost of Doing Business Survey”. (It is a study of tax structures that allows companies and cities to compare their cost of doing business with other cities across California.) I was the Student Manager for the Kosmont Survey during my senior year at the Rose Institute. After graduation, I worked for a local chapter of the Building Industry Association (BIA) as their Government Affairs Director. We primarily acted as a liaison between the building community and state and local governments on many issues related to permitting and entitlements for real estate projects. I worked with both the private and public sectors while I was at the BIA. It helped me to build my skills and understanding of state and local governments. My experience has been helpful since we work with both public and private clients at the Kosmont Companies.

  1. How did you get into this industry and what drew you to it?

 I guess it was somewhat by luck, somewhat by accident, and somewhat by interest. I studied Politics, Philosophy and Economics (PPE) at Claremont McKenna. I was always interested in government and when I worked at the BIA, I realized that many companies need help navigating through the regulatory environment in California. I applied to a few jobs when I was graduating but I decided on going to the BIA. I was also interested in the relationship between the private sector and state and local governments. They rely on one another and there is always a connection between the two, especially in real estate and economic development. A successful real estate or economic development project will help both the public and private sectors, but the project has to be done right. The economic downturn that started in 2008 showed just how inter-connected our economy is and how important economic development is to our local communities.

  1. Tell us about a recent accomplishment or success story.

Last year I finished my MBA from Boston University. I was out of school for seven years between undergrad and grad programs, so it was hard to get back into the routine of being a student. Also, prior to enrolling in business school, I didn’t have a ton of background in subjects such as finance and accounting. It was hard for the first few semesters to tackle something outside of my comfort zone, but I learned a lot and graduated in May of 2014.

  1. When you aren’t working, what do you enjoy doing in your spare time?

I enjoy the outdoors a lot. I like hiking, going to the beach, swimming and playing golf. I also like playing the guitar and cooking, which I don’t find to be a chore!