Under the direction of the Real Estate Development Manager provides a real estate focused role to the Housing Authority affordable housing development projects. Performs real estate and administrative functions, including analytical, statistical and administrative work on projects; conducts a variety of studies and research for properties and their financial support; and prepares reports and recommendations relative to the area of responsibility.
Coordinates and administers development project activities including creating the financing, hiring/managing consultants, selecting and overseeing the general contractor and overseeing construction, securing necessary permits, ownership transfer and initial tenant occupancy; ensures construction activities and results comply with the construction contract and applicable funding source requirements; takes an advocacy position for each project.
Plans, organizes, controls, directs and evaluates all work and activities involved in one or more affordable housing project(s); serves in a project manager role as a developer and/or partner to another development entity and/or funding source, lender or re-financier; directs and oversees a project through its entire life cycle, which could include pre-development site acquisition through transfer of completed project to owner/asset management.
Produces cost estimates, financial proformas, completion schedules, and project implementation budgets; drafts contracts, lease agreements, settlement agreements, loan documents and other financing arrangements, and real estate documents for review with legal counsel; monitors project expense budgets and approves/processes project expenditures; prepares reports and presentations.
Identifies and initiates new approaches to producing affordable housing in a challenging fiscal/funding environment; seeks development opportunities from outside sources such as brokers/lenders and developers; negotiates project details with developers, consultants, lenders, attorneys, and other nonprofit and governmental entities.
Identifies, analyzes, and recommends existing multi-family housing units for acquisition and ownership; performs financial feasibility analyses to demonstrate viability; completes all acquisition activities and transactions.
Completes applications for funds; pursues new or alternate financing and other resources for project funding such as tax credits, multi-family bonds, grants, outside loans, property trades, etc; ensures a viable financing plan is approved for each project.
Ensures the continuing viability and operation of existing affordable housing units by servicing these projects and their financing; handles developer requests for refinancing, asset transfers and land transfers in exchange for increases in their affordable housing terms/conditions.
Prepares and disseminates Requests for Proposals and Notices of Funding Availability; responds to questions and inquiries from developers; evaluates project funding proposals and makes recommendations.
Manages tax-exempt bond financing requests on behalf of the Housing Authority, including working with bond financial advisors and bond counsel to underwrite and recommend bond financing to the state bond allocating authority and closing bond transactions and other financing with developers and various consultants resulting in the issuance of tax exempt bonds; tracks and services of the Authorities bond portfolio.
Performs post issuance compliance duties while bonds are outstanding, including monitoring compliance with the IRS arbitrage rebate requirements, ensuring ongoing disclosure, preparing borrowers annual certification, resolving rent and income compliance issues, and collection of annual fees.
Coordinates activities related to the restructuring, refinancing, or defeasance of existing bond financing structures, including performing financial analysis in connection with default workouts for mortgages supporting individual bond issues.
Monitors changes in laws, regulations, and technology that may affect the Authority or divisional operations; implements policy and procedural changes as required.
Prepares, reviews, and presents staff reports, various management and information updates, and reports on assigned programs and special projects to the Deputy Executive Director, Executive Director and Commission.
Attends and participates in professional group meetings; stays abreast of new trends and innovations in the field of affordable housing development projects and other types of public services as they relate to the area of assignment.
Responds to difficult and sensitive public inquiries and complaints related to assigned projects and assists with resolutions and alternative recommendations.
Performs other duties as assigned.
Bachelor's degree in public administration, urban planning, finance or related field is required. Five years of directly related experience with real estate transactions preferably in affordable housing environment. Previous experience with financial side of real estate. Strong computer skills with ability to multi-task. Must have valid CA drivers license and insurable at rates required by insurance carrier.
The HACSB is committed to creating an inclusive environment that welcomes and values differences among our customers, vendors, and the communities in which we live and conduct business. Our continued success and growth is enhanced through initiatives that promote diversity throughout the company and our communities. HACSB is an equal opportunity employer.
Apply online at: https://hacsb.com/careers.