CHARACTERISTICS OF THE CLASS
Under general direction and reporting to the Director of Development, the Development Officer performs complex professional work of considerable difficulty managing the HACLA’s real estate portfolio, including development, redevelopment, repositioning of assets, acquisition and other related duties as required.
The Development Officer works independently to lead a development team relying on staff, third party consultants and development partners to negotiate the repositioning of assets, acquisition and rehabilitation of new assets, and redevelopment of large, complex public housing sites, among other projects. The Development Officer is responsible for the preparation and submission of Low Income Housing Tax Credit, Bond, and other applicable financing applications and transactions. Additionally, the incumbent will draft, underwrite and negotiate terms for purchase agreements, development contracts, property and ground leases and complex financing documents related to real estate transactions. The position manages projects from predevelopment through lease up and will work closely with the City, HUD and other regulatory bodies on entitlements, underwriting, reporting, environmental review, relocation and other obligations.
From a community perspective, the incumbent will help organize and lead community outreach efforts and facilitate stakeholder communications related to any projects they lead to garner support and input as well as provide important information.
EXAMPLES OF ESSENTIAL FUNCTIONS
- Oversight and management of Development Services activities which includes affordable and market-rate housing acquisitions, development, and rehabilitation programs and operations.
- Participates in the development of departmental policy and procedures; recommends, and assists with the implementation of, policies and procedures in assigned activities.
- Prepares scopes of work, Requests for Proposals, Requests for Qualifications and other related documents with respect to development projects; coordinates and organizes documents related to the procurement process and leads a team that reviews, analyzes and evaluates development solicitation proposals received in response to such procurements; and analyzes and manages the resulting services contracts, schedules and budgets.
- Directs and manages master planning and CEQA processes for large redevelopment projects; coordinates with third party consultants, resident and community organizations, and project partners on the preparation of planning documents according to project schedules.
- Identifies and develops project acquisition and funding opportunities; completes development programs, and feasibility analyses of new acquisition and development projects.
- Negotiates, reviews, interprets, and guides execution of development-related agreements, including ground leases, joint development agreements, exclusive negotiation agreements, reciprocal easement agreements, and covenants; helps resolve legal, contractual, and technical issues by working with internal and outside counsel on such agreements.
- Analyzes and interprets real estate appraisals, development proformas, project budgets, and other financial information related to development projects and uses such analysis and interpretation to inform development related agreements, including working with financial consultants to complete review and negotiation.
- Guides the development and implementation of Development Services goals, objectives, policies, budgets and priorities for assigned service areas; recommends appropriate service and staffing levels; allocates resources accordingly.
- Reviews, monitors and evaluates the effectiveness and efficiency of programs and services methods and procedures; supervises and coordinates activities of staff; consults with and assists various HACLA officials and agency representatives in the resolution of problems; makes recommendations or takes corrective action as appropriate.
- Coordinates development activities with HACLA departments, outside agencies and organizations, including legal counsel; provides staff assistance to the Chief Strategic Development Officer; prepares and may present reports, updates, and other necessary communications.
- Attends, participates and may present at professional meetings; stays abreast of new trends and innovations in the fields of real estate, urban planning, redevelopment and affordable housing development and rehabilitation.
- Interacts at and leads community stakeholder and leaseholder meetings.
- Performs other related duties as may be assigned.
KNOWLEDGE OF AND TRACK RECORD IN UTILIZING
- The theories, principles and practices of real estate development, transit-oriented development, land use planning, urban design, project management, contract administration and negotiation, and business and public administration.
- Principles and practices of municipal planning, including environmental regulations and public policy issues, land use entitlements and obtaining approvals and permits from other agencies.
- Principles of community development and public engagement.
- Large scale multi-family development and redevelopment activities, including utilization of low-income tax credit and bond financing.
- Project cash flows, pro-forma of financial statements, sources and uses of funds to maximize the potential returns to HACLA from its assets and from the sale of tax credits and revenue bonds to potential investors and other funding sources.
- Pro-forma analysis of development costs, cash flow, operating costs, including direct construction costs, and related activities.
- Approaches with obtaining tax-exempt financing, preparing bid documents for soliciting investors, lenders, underwriters and/or credit enhancers and assisting with negotiations.
- Preparing applications for private and public funding from other government agencies.
- Negotiating fees, expenses and terms of investment and closing financial transactions.
- Partnership agreements, disposition, lease and loan agreements especially relative to Department of Housing & Urban Development (HUD) regulations.
- Negotiation and deal structuring with developer/partners, property owners, and government agencies.
- Preparation, negotiation and finalization of construction contracts, loan documents and assistance with resolution of financing issues for each component of the project and other related agreements.
- Provide administrative and professional leadership and direction to the Development Services Department.
- Conceptualize, analyze, manage and implement complex development projects.
- Plan, organize, direct and coordinate the work of assigned or supporting personnel.
- Analyze problems, identify alternative solutions, and make recommendations in support of project goals.
- Locate and analyzing statistical data affecting cost, value and marketability of residential, commercial and income properties, and draw sound conclusions.
- Negotiate agreements with developers and/or sponsors and determine economic feasibility of projects.
- Initiate and maintain effective and cooperative working relationships with colleagues, consultants, team members, local, state and federal government agencies, lenders/investors, and community stakeholders.
- Prepare and administer large and complex budgets and analyze real estate proformas.
- Interpret and apply Federal, State and local policies, procedures, laws, and regulations.
- Prepare clear and comprehensive written reports, policies and recommendations on technical and administrative matters, and deliver effective presentations.
- Prepare and manage solicitation proposals and other competitive bidding processes and procedures to acquire new partners, consultants and contractors.
Education and Experience:
Bachelor’s Degree in Business Administration, Economics, Public Administration, Urban Planning, Real Estate Management, Engineering, Architecture or closely related field -AND- six (6) years of work experience in public housing, affordable housing, or a real estate redevelopment environment; including at least (3) three years of senior level management experience; or the equivalent combination of education and experience which meet the minimum qualifications requirement.
• At least six (6) years of increasingly responsible experience in sourcing, structuring and negotiating real estate transactions, preferably with experience in affordable housing transactions, which include public subsidies, low income housing tax credits and tax-exempt bonds.
• Advanced management experience in reviewing, preparing and modeling real property financing which shall include work in government-assisted programs for developing and financing mixed-use / mixed-income, affordable and market rate developments including both multifamily housing and commercial elements.
• Extensive experience in budget planning and control, fiscal management and personnel administration.
• Advanced project management experience, inclusive of direct oversight of real estate and community development projects.
• Experience in performing financial modeling of development projects.
• Experience working with principals and senior level officials is required.
Must possess a valid California Class C Driver’s License.
Please go to http://www.hacla.org/careers for details of this position and to apply.
***Position open until filled***
Applications will be reviewed for relevant experience, education, and training. Applications must be detailed and complete for proper evaluation. Resumes may be included but may not be submitted in lieu of application. Only the MOST QUALIFIED APPLICANTS will be invited to the interview process. Only the most qualified applicant(s) will be referred for interview and considered for the position; however, only the best-qualified applicant(s) may be selected.
All job offers are contingent upon successful completion of a pre-employment evaluation, which includes: a post-offer medical examination (includes drug and alcohol screening), criminal records check, employment history and education verification, and documentation of the right to work in the United States.
Candidates who require a reasonable accommodation in any portion of the selection process should state their need in writing when submitting an application or call 213-252-5400.
NOTE: The provisions of this announcement do not constitute an expressed or implied contract and any provisions contained in this announcement may be modified or revoked without notice.
We are an Equal Opportunity/Affirmative Action Employer.
At-Will, non-represented employees must participate in mandatory direct deposit of payroll as a condition of new and continued employment. Accommodations may be made on a case-by-case basis.
Pursuant to the Housing Authority of the City of Los Angeles' Conflict of Interest Policy, new and existing employees are required to refrain from participating in activities, employment or enterprises, which are in conflict with public interest and/or with his or her duties as an employee of the Authority.
A copy of the Conflict of Interest Policy may be obtained by visiting our website at: http://www.hacla.org/Portals/0/Attachments/Others/ConflictofInterestPolicy.pdf
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