Associate General Counsel

National Equity Fund•Chicago, IL

12d•Onsite

About The Position

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking an Associate General Counsel to handle the legal aspects of a wide range of transactional and compliance matters related to the Company’s business. This role operates under the direction of the General Counsel and Senior Counsel and is crucial for supporting NEF's mission of creating sustainable affordable housing through the LIHTC program.

Requirements

A law degree from an accredited law school.
Good academic credentials.
Membership in at least one state bar.
A minimum of seven to ten years in a sophisticated law firm or corporate legal department environment involving investment funds, federal tax law, securities, limited partnership law, and limited liability company law.
Experience with commercial real estate development and financing (investment and/or lending), preferably involving affordable housing and federal low-income housing tax credits.
Effective drafting and research skills.
Ability to integrate legal requirements into business practices.
Excellent communication and interpersonal skills.
Ability to interact effectively with all levels of management and staff.

Nice To Haves

Familiarity with government programs related to affordable housing and community development a plus, but not required.

Responsibilities

Handling legal aspects of various transactional matters involving multi-investor and proprietary investment funds (“Funds”) and project partnerships, including preparing and negotiating Fund agreements and ancillary Fund closing documents, preparing and negotiating Fund investor side letter agreements, and closing Funds.
Coordinating Fund closings with the Investor Relations Department.
Managing and overseeing outside legal counsel responsible for Fund closings.
Managing and overseeing paralegal preparation of certificates and other ancillary Fund closing documents.
Drafting and reviewing post-closing project investment approvals for the Investor Relations Department and coordinating assignment of project investments from warehouse lines of credit to Funds.
Performing due diligence and managing the negotiation and execution of legal documents related to the closing of Fund-level bridge loans and warehouse lines of credit.
Handling investor transfer requests, including performance of due diligence and negotiation of transfer documents, and advising the Investor Relations Department on such matters.
Advising New Business Initiatives Department on matters related to new Funds and business initiatives, including tax-related and structural considerations.
Providing support to the Asset Management Department and the Project Management Department by reviewing Fund agreements and Fund investor side letters to determine consent rights concerning a range of matters including waiver of equity benchmarks, transfer of project general partner interests, property manager changes, and project dispositions.
Managing Know Your Customer (KYC) requests and requirements.
Managing U.S. Department of Housing and Urban Development filings, including Limited Liability Corporate Investor (LLCI) requirements.
Managing controlling interest transfer filings, including California Board of Equalization (BOE) filings.
Managing local municipality economic disclosure statement filings.
Developing and monitoring internal processes and procedures involving legal matters.
Advising staff on the contents of legal documents.
Assisting General Counsel and Senior Counsel with various compliance functions, including securities laws requirements.
Performing other duties assigned by the General Counsel.