Receives administrative direction from the Executive Director of Housing Development Partners. The work provides for a wide variety of independent decision-making, within legal and general policy and regulatory guidelines. Exercises general direction and supervision over management, supervisory, professional, technical, and administrative support staff, through subordinate levels of supervision.
Examples of Essential Job Functions:
- Manages all stages of property development including due diligence, acquisition, financing, hiring/managing consultants, securing permits/entitlements, selecting and overseeing the general contractor and architect, and overseeing construction.
- Prepares predevelopment budgets, schedules, and project management task lists to track and monitor the development of projects.
- Effectively manage projects through financing closing including coordination with external parties such as lenders, investors, legal counsel, architects, contractors, third party consultants, and City, State, and Federal agencies.
- Responsible for the financial modeling of prospective acquisitions including project underwriting, pro forma analysis, cost estimating, cash flow analysis, and real estate valuation.
- Prepares analyses of tax credit investments, bond financing, HUD/FHA financing, and permanent/soft debt.
- Oversees the completion of funding applications for affordable housing funding sources such as tax credits, tax exempt bonds, grants, and soft loans.
- Seeks development opportunities from outside sources such as brokers/lenders and developers; recommends new developments for acquisition.
- Assists in overseeing the essential business functions of the organization including business development, project management, corporate accounting/finance, and asset management.
- Evaluates asset performance, reviews operating statements on a monthly basis, and monitors property balance sheet activity.
- Assists in managing the accounting and financial reporting functions of the organization.
- Manages and participates in the development and administration of the department’s annual budget; monitors and compares budget to actual expenditures; assists in the preparation of quarterly financial statements to the Organization’s Board of Directors.
- Prepares, reviews, and presents staff reports; assembles various management and information updates; reports on assigned projects and programs to the Executive Director, Board of Directors, Housing Commission and Housing Authority.
Education and Experience:
- Experience with financial modeling, pro forma analysis, investor underwriting, cost estimating, and analysis of affordable housing resources.
- Extensive experience with affordable housing funding sources including: Low Income Housing Tax Credits, Tax Exempt Bonds, HOME, CDBG, FHLB, and other Federal/State/Local resources.
- Experience with the completion of funding applications for affordable housing funding sources including low income housing tax credits, tax exempt bonds, grants, and soft loans.
- Extensive understanding of TCAC/CDLAC regulations.
- Experience working with tax credit investors and affordable housing lenders, including soliciting debt and equity proposals for LIHTC projects.
- Experience in project managing all stages of affordable housing development from predevelopment through construction and lease up.
- Experience with coordinating due diligence, hiring/managing consultants, securing permits/entitlements, selecting and overseeing the general contractor and architect, and overseeing construction.
- Experience working for Public Agency, Housing Department, or City Government. Experience working for a tax credit investor, bank, or community lending institution.
- Experience drafting board reports and making presentations to Board of Commissioners/City Council.
- Ability to analyze, interpret, and apply Federal, State, and local policies, procedures, laws, and regulations.
Qualifications include any combination of training and experience that would provide the required knowledge, skills, and abilities.
Graduation from an accredited four-year college or university in business, real estate, urban planning or a related field and ten (10) years of progressively responsible leadership or management experience, including at least five (5) years in a management capacity.