Senior Development Officer

SENIOR DEVELOPMENT OFFICER

FINANCE AND DEVELOPMENT UNIT

HOUSING INVESTMENT AND FINANCE DIVISION

$100,261.00 - $140,365.00 Annually (DOQ)

REGULAR POSITION

Initial salary placement is generally made between the start and mid-point of the posted range. New hires are not eligible to start at the maximum of the posted range.

LACDA Overview

The Los Angeles County Development Authority (LACDA) is a dynamic, innovative agency created in 1982 by the Board of Supervisors to generate affordable housing and economic redevelopment throughout Los Angeles County and participating cities.  Funded primarily with federal grants, the LACDA is an industry leader in sponsoring new solutions to housing and forming partnerships with private and public agencies. To find out more about the LACDA, please visit our web site at www.lacda.org.

Division Overview

The Housing Investment and Finance Division (HIF) administers federal, state, and local funds that are made available to for-profit and non-profit housing developers for the development and preservation of affordable and special needs housing. Additionally, it supports low- and moderate-income homeownership, single and multifamily home rehabilitation and sound mitigation, and various community and economic development projects and initiatives.

Position Overview

Under the general direction, the Senior Development Officer performs a variety of highly responsible and complex administrative, technical, and analytical duties in support of the Finance and Development unit within the Housing Investment and Finance Division (HIF). The Senior Development Officer is responsible for managing multiple affordable housing projects from project conception through completion; conducting financial analysis and feasibility studies, administering Requests for Proposals (RFPs), negotiating development and lease agreements, monitors projects for compliance with Authority and federal, state, and local regulations and guidelines; and providing affordable housing financial expertise to project staff, investors, developers, lenders, contractors, and other stakeholders. 

ESSENTIAL JOB DUTIES

The below statements are intended to describe the general nature and scope of work performed by this position. This is not a complete listing of all responsibilities, duties and/or skills required. Management reserves the right to add, modify, change, or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job.

• Performs a variety of highly responsible and complex administrative, technical, and analytical duties in support of development projects awarded through the Authority’s NOFA and other solicitation processes; ensures compliance with applicable laws, policies, and guidelines, including NOFA guidelines and regulatory requirements associated with other funding sources.
• Manages multiple development projects, from conception through completion, including predevelopment, construction loan closing, construction, project lease-up, and permanent loan conversion. 
• Participates in the oversight of the annual issuance and administration of the NOFA, including planning and coordinating with Authority and contract staff, updating funding program requirements, revising the online NOFA application and reports, responding to applicant inquiries, and participating in software application development, modification, and support activities. 
• Analyzes a variety of loan documents, verifications, and financial proformas necessary for loan approval; performs loan underwriting and review of due diligence items, ensuring compliance with Authority requirements; coordinates the review and approval process with Los Angeles County Counsel and borrowers, including developing and negotiating loan, disposition, subordination, and other relevant legal agreements and documents.  
• Processes contractor installment payments (i.e., “draw requests”) for housing development projects; coordinates with internal Authority divisions to ensure contractors are in compliance with federal and state regulations including prevailing wage requirements; and monitors loan expenditures. 
• Represents the Authority in negotiating, collaborating, and conferring with developers, contractors, consultants, lenders, and other stakeholders involved in project execution.  
• Collaborates with third party investors, lenders, and asset managers on each project; coordinates project financing functions with multiple stakeholders.
• Provides input to architects regarding project development plans; participates in the conceptual review process of each project; participates and provides information to architects regarding project-specific requirements as mandated by funding sources and Authority requirements related to design, sustainability, and accessibility. 
• Reviews tenant selection criteria, house rules, rent amounts, and eligibility for each project; evaluates plans for supportive services and property management to ensure developers have address the service needs of tenants and removes any potential barriers to safe and affordable housing; ensures compliance with regulatory requirements. 
• Participates in land disposition activities as required; assists with the entitlement process; resolves any issues on Title Report; and coordinates the sale/lease of land amongst various County departments. 
• Researches, interprets, and applies current and changing regulations affecting assigned areas and the Authority at large to ensure compliance; stays abreast of new trends and innovations pertaining to the functional area of assignment. 
• Prepares, composes, and edits a variety of written communications including reports, correspondence, legal documents, contracts, agreements, Requests for Proposals, tax credit and loan applications, and financial documents related to assigned responsibilities; reviews documents for accuracy, completeness, and conformance to applicable standards and regulations.  
• Conducts research, analyzes information, and prepares comprehensive reports on topics related to assigned projects and programs. 
• Initiates and maintains documentation and filing systems to ensure accurate and current information is readily available; develops necessary forms and procedures to facilitate appropriate documentation.
• Attends and participates in professional group meetings; stays abreast of new trends and innovations in the fields of real estate development and affordable housing. 
• Performs other related duties as assigned.

QUALIFICATIONS

Knowledge of:

• Principles, practices, and methods of public and governmental affordable housing programs, policies, and financing sources.
• Quality assurance and quality control principles and practices within areas of expertise. 
• Project management principles and practices.
• Real estate construction administration practices, procedures, laws, and regulations.
• Principles and techniques of conducting analytical studies, evaluating alternatives, making sound recommendations, and preparing and presenting effective reports. 
• Real estate financial modeling. 
• Principles and practices of developing and administering complex project budgets.
• Subsidized housing program rules and regulations. 
• Federal, state, and local funding programs and requirements applicable to assigned functional area. 
• Local zoning and land use regulations and state policies impacting project entitlement. 
• Principles and practices of public agency procurement rules, regulations, and procedures. 
• Best practices in affordable housing development, design, management, and service provision. 
• Applicable federal, state, and local laws, rules, regulations, and procedures relevant to assigned areas of responsibility. 
• Principles and techniques for working with groups and fostering effective team interaction to ensure teamwork is conducted smoothly.
• Techniques for effectively representing the Authority in contacts with governmental agencies, community groups, and various business, professional, educational, regulatory, and legislative organizations.
• Recent and on-going developments, current literature, and sources of information related to assigned area of responsibility. 
• Principles and procedures of record keeping.
• Authority and mandated safety rules, regulations, and protocols.
• Techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and Authority staff.
• The structure and content of the English language, including the meaning and spelling of words, rules of composition, and grammar.
• Modern equipment and communication tools used for business functions and program, project, and task coordination, including computers and software programs relevant to work performed.

Ability to:

• Provide expertise on the financial components of construction administration in support of assigned Authority developments and construction projects. 
• Develop, implement, and manage complex and multi-disciplinary projects, programs, studies, and initiatives in an independent and cooperative manner. 
• Identify problems, research, and analyze relevant information, and develop and present recommendations and justification for solutions. 
• Develop and monitor project development budgets. 
• Ensure development projects comply with federal, state, and local financing regulations. 
• Develop, modify, and interpret financial proformas applicable to affordable housing projects. 
• Collaborate with a variety of third-party entities to complete financing of housing development construction projects. 
• Review, negotiate, develop, and administer complex legal documents and contracts. 
• Complete construction draws using Authority approved spreadsheets and documents. 
• Perform complex mathematical and financial computations accurately. 
• Underwrite affordable housing project loans. 
• Cooperate with conventional lenders and asset managers to deliver timely reporting and documents. 
• Maintain the confidentiality of various proprietary financial information encountered in the course of work. 
• Research, analyze, evaluate, understand, interpret, and apply programs, policies, procedures, and guidelines, and develop sound recommendations. 
• Prepare clear and concise reports, correspondence, policies, procedures, and other written materials.
• Interpret, apply, explain, and ensure compliance with federal, state, and local policies, procedures, laws, and regulations.
• Coordinate and collaborate with a variety of internal and external stakeholders, community groups, and government agencies related to assigned functions, programs, and/or projects.  
• Effectively represent the department and the Authority in meetings with governmental agencies, community groups, and various businesses, professional, and regulatory organizations, and in meetings with individuals.
• Maintain accurate logs, records, and written records of work performed.
• Use tact, initiative, prudence, and independent judgment within general policy, and procedural, and legal guidelines.
• Independently organize work, set priorities, meet critical deadlines, and follow-up on assignments.
• Effectively use computer systems, software applications relevant to work performed, and modern business equipment to perform a variety of work tasks.
• Communicate clearly and concisely, both orally and in writing, using appropriate English grammar and syntax.
• Establish, maintain, and foster positive and effective working relationships with those contacted in the course of work.

Minimum Qualifications:

Any combination of education and/or experience that provides the required knowledge, skills and abilities to perform the essential functions of the position.  Additional experience, as outlined below, may be substituted for required education on a year-for-year basis

Education:

• Equivalent to a bachelor’s degree from an accredited college or university with major coursework in business or public administration, sociology, finance, urban planning, or other field related to assigned area of responsibility.  

Experience: 

• Four (4) years of increasingly responsible professional experience in real estate development, construction loan administration, housing financing, or a related field. 

Desirable Qualifications:

• Desirable Qualifications are used to identify relevant knowledge, skills, and abilities as determined by business necessity. These criteria are considered desirable qualifications and are not intended to serve as minimum requirements for the position. Applicants who possess these qualifications will not automatically be selected.
• Experience performing affordable housing loan underwriting and lending. 
• Experience analyzing and reviewing real estate proformas to evaluate a project’s feasibility and compliance with agency guidelines.
• Experience identifying public funding sources for affordable and/or supportive housing development such as Low-Income Housing Tax Credits (LIHTC), tax-exempt bond funding and/or other similar federal or local housing finance sources.
• Master's degree in Public Administration, Business Administration, Urban Planning, Real Estate Development, or a related field.