Deputy Director, Moderate Rehabilitation and Stabilization Loan Programs for the Division of Preservation Finance

City of New York•New York City, NY

12d

About The Position

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. 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 seven 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, Compliance and Enforcement and Housing Incentives. The Division of Preservation Finance administers multiple financing programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Housing Preservation Opportunities Program (HPO), The Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes HUD Multifamily Program (HUD MF), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP), Neighborhood Pillars Program (“Pillars”) and the LIHTC Portfolio Preservation (Year 15) Program. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Blueprint. The Division of Preservation Finance seeks a Deputy Director for Moderate Rehabilitation and Stabilization Loan Programs. The position will report to the Director, Moderate Rehabilitation and Stabilization Loan Programs. In your role as Deputy Director, you will assist principally in the management and administration of the Multifamily Housing Rehabilitation Loan Program (HRP), and relevant policy and projects within the unit. HRP provides rehabilitation loans to multifamily affordable housing developments that cannot leverage private financing and only require financing for the replacement of major building systems to improve living conditions and preserve safe affordable housing for low- and moderate-income households in New York City. This position supports work with limited equity and Mitchell-Lama cooperatives. In your role as Deputy Director, you will collaborate with the team director to lead a team of Senior Project Managers, Project Managers, and Assistant Project Managers working on capitally funded projects to oversee preparation and review of development budgets, affordability analyses, design review and approval, and other predevelopment issues to ensure timely construction loan closings to meet targets and track progress on annual pipeline of preservation projects.

Requirements

exceptional financial analysis, including financial modeling and financial statement analysis, and problem-solving skills
detailed-oriented
self-motivated
possess an interest in working with low-capacity small building owners
an ability to manage multiple projects and meet deadlines in a fast-paced, often-changing, environment
demonstrate strong verbal and written communication skills
Strong facility with Excel and Word required

Nice To Haves

underwriting experience
knowledge of New York City affordable housing and private lending programs
negotiating skills
experience working with small building owners
an ability to work effectively with others to obtain results promptly
Candidates with master's and/or substantial experience in Urban Planning, Real Estate Finance, Business Administration or related fields are strongly preferred.

Responsibilities

Assist the Director with the development and implementation of plans, strategies and tools for effective program management;
Work with the Director to supervise and provide technical and procedural assistance to project management staff;
In conjunction with the Director, establish appropriate productivity measures for staff and work effectively with staff to achieve them;
Assist in the establishment of effective systems for monitoring and tracking project manager’s work;
Assist in the preparation of budget and program proposals and in managing a budget of approximately $80 million in city capital and other funding sources;
Review project management staff’s work and ensure adherence to program terms, including underwriting analyses, credit memos, and tax exemption and loan approval packages;
In conjunction with the Director, assist project managers in project negotiations with developers and financial institutions;
Assist project management staff in their general project management duties as needed, including project development, negotiations and due diligence requirements on construction loan closings, troubleshooting projects in construction, facilitating project completion and preparing recommendations for work-outs prior to permanent loan conversion.
Represent the Director and the agency in external (i.e. community meetings, conferences, and inter-agency working groups) and internal meetings (i.e. intra-agency working groups and development team meetings) as necessary;
Prepare reports, memoranda and written correspondence regarding program’s performance and issues;
Expedite and follow up on programs’ projects with other city agencies, before, during and after construction, as required;
Coordinate special projects, conduct policy analyses, initiate research and make recommendations that relate to the management and operations, as well as policy objectives, of the programs and other issues as requested by the Director and the Assistant Commissioner for the Division of Preservation Finance.