The purpose of this classification is to plan, direct and manage, and supervise the staff of the Asset Management Unit of the Real Estate Services Department. This classification is also to assist the Senior Asset Manager of the Real Estate Services Department in providing financial performance review and analysis, developing and monitoring capital needs assessment program, reviewing, recommending and implementing financing structures and negotiating acquisition of tax credit properties for a multi-family residential portfolio owned by the Housing Authority of the County of Santa Clara and its affiliates.
Education: Bachelor’s degree in Business Administration, Public Administration, Finance or related field is required.
Experience: A minimum of five years experience managing asset management aspects of a multi-family affordable housing agency to include asset management, development, financing, construction projects and related real estate issues; or any equivalent combination of education, training, and experience which provides the requisite knowledge, skills, and abilities for this position. A minimum of 3 years of experience with LIHTC deals required. Knowledge of reposition of LIHTC deals at the end of the tax credit period preferred.
License: Must have possession of or the ability to immediately obtain and retain a valid California Driver License and a driving record acceptable to the Authority.
ESSENTIAL JOB FUNCTIONS:
The following duties are normal for this position. The omission of specific statements of the duties does not exclude them from the classification if the work is similar, related, or a logical assignment for this classification. Other duties may be required and assigned.
• Responsible for performance monitoring of assigned multi-family portfolio in conjunction with the Asset Management staff; may also be assigned to directly asset manage one or more properties.
• Responsible for ensuring compliance of the assigned portfolio with state, local, and federal regulations as well as lender and investor requirements.
• Supervises, directs, and evaluates assigned staff of the Asset Management Unit, processing employee concerns and problems, directing work, counseling, disciplining, and completing employee performance appraisals; conducts interviews and makes hiring recommendations.
• In conjunction with the Senior Asset Manager, develops policy, procedure, and timelines and schedules to ensure that the unit’s activities are completed accurately and in a timely manner. Ensures deadlines for submitting reports, monthly expense variance review, welfare tax exemptions, AOCs, budgets, etc. are being met by the staff and are completed to the required standard.
• Represents the Authority and the Authority’s interest and provides relevant and timely information to interested parties such as, but not limited to, lenders, equity syndicates, city planners, attorneys, service providers, vendors, housing staff of local, state and federal agencies as well as inter-departmental units.
• Monitors the affiliated properties partnership’s balance sheet trends including distribution of surplus cash, soft loans, reserves and capital account balances.
• Maintains direct communication on policy issues with the property management companies and service providers and meets with them at least once a month to discuss issues.
• Monitors the property management companies policies and practices, including site visits ,file reviews and participation in the regular watch list meetings
• Works with Senior Asset Manager and Asset Management Analysts to develop and implement property management and financing work-out strategies for properties on the agency’s watch list.
• Reviews debt structure of properties and works with the Senior Asset Manager, Director of Real Estate Services and Director of Finance to develop and implement refinancing strategies as appropriate.
• Ensures long term capital improvement needs are adequately planned and financed for. Work with the Development, Construction and/or Maintenance Units depending on the size and scope of each job and work with Senior Asset Manager to obtain funds when there is a deficit to cover capital need improvement.
• Analyses of public finance and financing activities, including taxable and tax exempt bonds and LIHTC/HUD financing of Authority projects.
• Consults, reviews and updates, where appropriate, the development of the property and capital budgets for assigned properties; assists in the development of the annual property budgets for all properties.
• Maintains up to date property profile summaries. and other key documentation
• Provides asset management input where required on new deals.
• May be assigned specialized tasks such a Below Market Rent program, bond compliance, property management policy, resident services contracting, watch list meeting process etc, as needed.
• Attends a variety of management, committee, and work group meetings concerning issues of interest to the department and Authority. Develops and implements necessary departmental procedures, guidelines, and regulations pertaining to those activities and processes undertaken by the Asset Management Unit.
KNOWLEDGE AND SKILLS:
• Knowledge of reposition of LIHTC deals at the end of the tax credit period preferred.
• Knowledge of LIHTC and other affordable housing programs and compliance required
• At least five years experience in the affordable housing field, emphasis on asset management financial and regulatory analysis.
• Familiarity with basic real estate finance concepts.
• Fundamentals of affordable housing programs and applicable regulatory requirements.
• Financial analytical skills with an in-depth understanding of affordable housing finance.
• Basic inspection techniques
• Techniques of negotiations and contract development
• Experience of personnel management
• Experience of designing and implementing policies and procedures
• Provides assistance and serve as a back up to other employees of the department as needed.
• Must have a sound knowledge and ability in business correspondence and an ability to proofread for grammar, spelling and punctuation with a high degree of accuracy.
• Must be able to operate a computer proficiently. Must be proficient in Microsoft programs including but not limited to Excel, Outlook and Word. Must be able to learn other software programs required by the Agency and/or department. Yardi experience preferred.
• Modern office procedures and methods.
• Proper telephone etiquette and procedures.
• Pertinent Federal, State, and local laws, codes and regulations.
• Knowledge of reposition of LIHTC deals at the end of the tax credit period preferred
• Perform other duties as required.
APTITUDES AND ABILITIES:
• Work under the stress of short timelines and understand oral and written instructions and procedures.
• Learn new software, and identify and acquire assistance when required.
• Maintain confidentiality.
• Comprehend and interpret complex rules, regulations and laws.
• Make rapid and sound independent judgments
• Create project financial analysis spreadsheets.
• Perform activities associated with the acquisition, rehabilitation or construction of affordable housing units.
• Develop budgets for multi-family residential communities.
• Prepare long term strategic capital need plans.
• Interpret and explain Authority policies and procedures.
• Effective prioritization and organizational skills.
• Maintain asset management data sheets.
• Advise department on deal points for new and reposition asset.
• Work independently while also contributing to a team environment.
• Deal effectively with investor personnel and organizations partnering or prospectively partnering with the Authority.
• Be courteous, exercise judgment, discretion, and maintain confidentiality in dealing with client information.
• Communicate quickly, effectively, professionally, and precisely in English in written and oral expression.
Equipment, Machinery, Tools, and Materials Utilization: Requires the ability to operate, maneuver and/or control the actions of equipment, machinery, tools, and/or materials used in performing essential functions.
Verbal Aptitude: Requires the ability to utilize a wide variety of reference, descriptive, advisory and/or design data and information.
Mathematical Aptitude: Requires the ability to perform complex mathematical functions utilizing algebra, calculus and statistics.
Functional Reasoning: Requires the ability to apply principles of influence systems, such as motivation, incentive, and leadership, and to exercise independent judgment to apply facts and principles for developing approaches and techniques to resolve problems.
Situational Reasoning: Requires the ability to exercise judgment, decisiveness and creativity in situations involving the evaluation of information against sensory, judgmental, or subjective criteria, as opposed to that which is clearly measurable or verifiable.
Physical Ability: Tasks require the ability to exert light physical effort in sedentary to light work, but which may involve some lifting, carrying, pushing and/or pulling of objects and materials of light weight (5-10 pounds) to moderate weight (11-20 pounds). Tasks may involve extended periods of time at a keyboard or work station.
Sensory Requirements: Some tasks require the ability to perceive and discriminate colors or shades of colors, sounds, and visual cues or signals. Some tasks require the ability to communicate orally.
Environmental Factors: Performance of essential functions may require exposure to adverse environmental conditions, such as bright/dim light or repetitive wrist motion.
This is not necessarily an exhaustive list of all responsibilities, skills, duties, requirements, efforts or working conditions associated with this job. While this job description is intended to be an accurate reflection of the current job management reserves the right to revise the job or to require that other or different tasks are performed when circumstances change. This job description replaces all previous descriptions for this position.
The Housing Authority of the County of Santa Clara (HACSC) is an Equal Opportunity Employer and does not discriminate based on religious affiliation, marital status, physical or mental disability, national origin, citizenship, age, race, color, creed, gender, gender identity, sexual orientation, genetic makeup, political or union affiliation, status as a Vietnam-era, disabled or other veteran, or any other basis protected by federal, state or local law. In compliance with the Americans with Disabilities Act, the Authority will provide reasonable accommodations to qualified individuals with disabilities. If you need an accommodation to complete the application process please contact the Authority’s Human Resources Department by either visiting the Authority at 505 West Julian Street, San Jose, California, 95110, or calling (408) 993-2934.
Housing Authority of the County of Santa Clara - 22 months ago