Assistant Commissioner of Preservation Finance

City of New York • New York City, NY

5h

About The Position

About the Agency: The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love. - We maintain building and resident safety and health - We create opportunities for New Yorkers through housing affordability - We engage New Yorkers to build and sustain neighborhood strength and diversity. HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth. Your Team: The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of eight divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Portfolio Management and Conversions, Housing Incentives, and Compliance and Enforcement. The Division of Preservation Finance administers multiple financing programs to improve financial and physical conditions and preserve or create affordability within privately-owned multi-family and single-family buildings. The division oversees programs utilizing low-cost loans and property tax benefits among other public incentives including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP), Neighborhood Pillars Program (Pillars) the Housing Preservation Opportunities Program (HPO), The Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes Program (PPP), HUD Multifamily Program (HUD MF), Supportive Housing Preservation (SPP), and the LIHTC Portfolio Preservation (Year 15) Program. This role will also oversee the Owners Resource Center, a program that oversees vendors that provide technical assistance and flexible financing to owners of multifamily buildings needing near term stabilization services. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the City’s housing goals. Your Impact: Under the direction of the Associate Commissioner for Preservation and Portfolio Management, the Assistant Commissioner will work in close coordination with other divisions within the Office of Development and across HPD, and in partnership with the New York City Housing Development Corporation (HDC), the New York City Housing Authority (NYCHA), the New York City Economic Development Corporation (NYCEDC), the New York City Office of Management and Budget (OMB), and other City, state, and federal agencies on Requests for Proposals, pre-development, and -financing, and completion of such projects. Your Role: As Assistant Commissioner, you will have primary responsibility for overseeing the Division’s Preservation Finance programs, as well as staff management and development, pipeline development and management, budget and resources, program development, implementation and innovation, while helping to shape and meet policy and production goals. you will also be responsible for managing engagement and negotiations with developers, lenders, and other development partners from the private and non-profit sectors. The Assistant Commissioner will contribute to and at times lead development of agency strategy and public policy on such topics as broadening and deepening affordability, housing the formerly homeless, supporting affordable homeownership, and expanding the City’s support of mixed-use, mixed-income projects.

Requirements

• Graduation from an accredited college with a baccalaureate degree. The candidate must have a major in accounting, financial management, public administration, or a related field, including a minimum of 24 credits in accounting; and Four (4) years of progressively responsible supervisory, administrative, or consultative experience in accounting, finance, or management, including one (1) year in a responsible administrative or consultative capacity.
• A graduate degree in the above fields may be substituted for up to two (2) years of the general experience required; or
• A satisfactory equivalent.

Nice To Haves

• The position requires a strong background in real estate finance, with experience in community development a plus.
• Extensive knowledge of financial tools and theory as well as facility in the use and analysis of financial models
• Ability to manage high volume workload and direct experience with transactional pipeline management
• Excellent verbal and written communication skills, including demonstrated ability to work effectively with internal and external partners to achieve overall goals
• Demonstrated experience in program management and policy development
• Demonstrated experience with process management (including budgeting exercises, managing targets, meeting reporting goals, and HR processes)
• Demonstrated ability to meet competing deadlines with senior managers to effectively manage multiple initiatives and projects in a timely manner
• Demonstrated supervisory experience for a large team including senior managers and staff.
• Strong track record of working with the affordable housing development industry and knowledge of affordable housing finance and policy
• Excellent analytical, organizational, and quantitative abilities, and track record of sound judgment and decision-making

Responsibilities

• Develop and lead the Agency’s preservation strategies for privately owned multi-family housing, including rentals and limited equity co-ops.
• Oversee the development and implementation of the division’s programs, including programmatic development, to meet the housing goals of the agency and City.
• Contribute to the development, implementation, and tracking of strategic plans and housing policy initiatives for the Office of Development and the Agency.
• Manage senior staff implementing the division’s financing programs and operations.
• Manage housing production targets and associated budgets to meet preservation goals.
• Ensure cost-effectiveness in subsidy programs by leading efforts to implement finance and production protocols to ensure efficient use of public subsidies in combination with available incentives.
• Oversee coordination with multiple internal divisions as well as numerous outside lending, development, and program partners to effectuate program goals.
• Field and respond to inquiries, both internal and external, about division activities in a timely manner. As part of this effort, the Assistant Commissioner will be responsible for prioritizing potential issues and making sound recommendations to the Associate and Deputy Commissioners.
• Other responsibilities and initiatives as may be required to ensure the success of the division, the Office of Development, and the Agency.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 101-250 employees