The purpose of this classification is to plan, direct, manage and supervise the staff of the Asset Management Unit of the Real Estate Services Department. Provides financial performance review and analysis, develops and monitors capital needs assessment program, reviews, recommends and implements financing structures and negotiates acquisition of 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 or any combination of experience and training that would likely provide the required knowledge and abilities for this classification. Such experience and training would be equivalent to a Bachelor’s degree in Business Administration, Public Administration, Finance, Real Estate or related field. Experience used to satisfy the education requirement must be in addition to any other experience required for this position.
Experience: A minimum of five years experience managing various aspects of an affordable housing agency to include finance, development/rehabilitation, management and related real estate issues and at least three years of direct supervisory experience; or any equivalent combination of education, training, and experience which provides the requisite knowledge, skills, and abilities for this position.
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.
• Supervises, directs, and evaluates direct reports, processing employee concerns and problems, directing work, counseling, disciplining, and completing employee performance appraisals; conducts interviews and makes hiring recommendations.
• Coordinates daily work activities of assigned unit/staff; organizes, prioritizes, and assigns work; monitors status of work in progress and inspects completed work; consults with assigned staff, assists with complex/problem situations, and provides technical expertise and guidance to staff members in the resolution of issues.
• Proficient and stays current with affordable housing programs such as, but not limited to, the Low Income Housing Tax Credit program, the Department of Housing and Urban Development’s multi-family housing programs, the State of California affordable housing programs and other local affordable housing programs.
• Understands, prepares, consults and works with legal and financial consultants on complex financial and legal structures for the loan, development/rehabilitation, construction, management, and ownership of affordable housing developments. Will coordinate with the Housing Development Unit as appropriate.
• Understands financial models related to affordable housing including year 15 analysis, present value calculations, multi-year proforma trending and basic loan refinancing and makes recommendation based on this data as assigned.
• Ensures a timely and thorough annual budget process and preparation of the operations Management Plan for each property. Ensures process is in place for reviewing operating statements and identifying variances with the budget and long term plans, and works with property management in solving problems.
• Through assigned staff, leads, coordinates and monitors the process of preparation of the Unit’s annual operating budget and budgetary reports. Review various budget reports and data for accuracy and consistencies; all other tasks that are relevant and applicable to prepare and complete the budget by due deadlines.
• Responsible for ensuring consistent, documented policies and procedures are in place across the property management portfolio and make revisions as required, this includes budget process, audit reviews, financial reporting, capital needs and site inspections
• Reviews financial structure of each property to insure maximum operating performance and proposes/implements a long term asset management plan to ensure continued operation and maintenance of the property and continued affordability.
• Ensures the planning of the long term capital improvement needs for each project is complete.
• Ensures that information on each property is kept in a single fact sheet and is updated.
• Acts as the Asset Management representative negotiating with lenders and limited partners and oversees preparation of documentation to close acquisition and refinancing transactions. This may be delegated depending on the complexity of the transaction.
• Ensures that all reporting, governance (including all inspections required by investors and regulatory agencies) and financial requirements applying to each property are met in a timely manner.
• Serves as liaison with local, state, and federal regulatory offices, making oral and written presentations as necessary.
• Ensures compliance with all applicable rules, regulations, standards, policies and procedures; initiates any actions necessary to correct deviations.
• Coordinates the RFP process with General Services for selecting professional services.
• Represents the Asset Management Unit in coordinating with the Construction Management Unit, the Housing Development Unit, and the design and construction team from schematics to construction phase in all new construction and rehabilitation projects.
• In coordination with property management and the Housing Development Unit ensures all aspects of construction and lease-up are completed.
• Coordinates payment of any Partnership Management Fees, Development Fees and any monies owed to the Housing Authority or its affiliates/subsidiaries.
• Maintains a robust electronic and paper documentation management system.
• Manages all affiliate Board of Directors activities including the boards composition, documentation, adherence to the Brown Act and bylaws, ensures completion of local, state and federal filings.
• Provides regular and timely reports on the Asset Management Unit’s activities on a monthly basis, or as required.
• Monitors and communicates regulation and program changes in the housing programs in which the agency participates and relevant conditions in the housing market that will affect the agency’s business.
• Prepares and implements an annual unit training plan.
KNOWLEDGE AND SKILLS:
• Must be able to operate a computer. 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.
• Supervisory practices and principles, and organizational administration and management.
• At least five years experience in the commercial real estate and/or affordable housing field, emphasis on financial and regulatory analysis and property management.
• Familiarity with basic real estate finance concepts.
• Excellent organizational skills and time management.
• Fundamentals of affordable housing programs and applicable regulatory requirements.
• Financial analytical skills with an in-depth understanding of affordable housing finance, including but not limited to tax credits, HUD finance affordable housing as well as other state and local financing programs.
• Techniques of negotiations and contract development.
• Pertinent Federal, State and local laws, codes and regulations.
• Basic inspections techniques.
• 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.
• Proper telephone etiquette and procedures.
• Provides assistance and serve as a back up to other employees of the department as needed.
• 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.
• Prepare long term strategic capital need plans.
• 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.
• Effective prioritization and organizational skills.
• Work independently while also contributing to a team environment.
• Deal effectively with investor personnel and organizations partnering or prospectively partnering with the Authority.
• Supervise professionals and assist employees in technical procedures.
• 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.