Deputy Director of Project Intake and Pre-development for the Division of Preservation Finance

City of New York•New York, NY

20h•$86,749 - $100,000•Onsite

About The Position

The Department of Housing Preservation and Development (HPD) oversees housing standards across all 3.7 million homes in New York City. As the nation’s largest municipal housing agency, HPD is responsible for building and preserving affordable housing, protecting tenants from harassment and displacement, and holding landlords accountable across the five boroughs. Under Commissioner Dina Levy and the Mamdani Administration, HPD is pursuing an ambitious housing agenda focused on the needs of New York’s tenants. With a broad set of tools including standards enforcement, tenant resources, and the creation of new affordable housing, HPD is committed to making New York City a more affordable place for renters and homeowners alike. The Office of Development (OOD) leads the agency’s effort to create and preserve housing in collaboration with other HPD offices as well as other city, state and federal agencies. The Office of Development is composed of eight divisions that administer a range of programs: 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), and the LIHTC Portfolio Preservation (Year 15) Program. The Division of Preservation Finance seeks a Deputy Director to assist with the implementation of the Division’s new intake and pre-development due diligence for capitally funded loan and tax exemption program pipelines. The goal of the process is to have a central point through which standardized applications and initial due diligence and underwriting review take place for our external stakeholders who have applied. The role will ensure applicants have a clear understanding of the various loan and tax exemption programs and can successfully navigate the application process and submission of initial due diligence and underwriting so that they can advance towards loan closing. This position represents an exciting opportunity to do meaningful coordination work with capitally funded projects, liaising with our clients and internal team and monitoring project progress through initial pipeline and due diligence stages. The Deputy Director will manage the intake, assessment, and preliminary underwriting of the pipeline of capitally funded projects applying for financing and/or tax benefits. The Deputy Director will work closely with projects that have applied to Preservation Finance via the new intake process including meeting with applicants to introduce them to the City’s preservation programs. As Deputy you will conduct reviews of submitted applications, due diligence and financials for projects in capitally funded program areas and direct owners to the correct program area for further assistance. You will also provide outreach and communication to sponsors of projects before acceptance and after acceptance into Preservation Finance’s pipeline. The Deputy will act as an internal navigator and will be the main point of contact with external partners, including property owners, developers and HPD selected external vendors providing loan packaging work. The Deputy will also provide process refinement and implementation, process evaluation, and tracking and reporting on capitally funded project intake information. The role involves substantive liaising and coordination with parties internal to HPD, including senior leadership and intake staff in the Preservation Finance Loan Program areas to move projects forward.

Requirements

A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or
A four year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in "1" above; or
A satisfactory combination of education and/or experience which is equivalent to "1" or "2" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have at least two years of experience as described above.
Strong financial analysis skills including financial modeling and financial statement analysis
Meticulous, organized, detailed-oriented, and self-motivated
Able to manage multiple projects and meet competing deadlines
Strong verbal and written communication skills
Strong facility with Excel and Word

Nice To Haves

A strong financial background (including underwriting experience)
Knowledge of affordable housing development/lending
Knowledge of HPD development programs
Demonstrated analytical skills
Ability to work effectively with others to obtain results promptly

Responsibilities

Drive projects through the intake and pre-development process for pipeline projects, from initial application through project manager assignment toward loan closing; responsibilities include sponsor outreach and coordination, preliminary underwriting review, and review of initial pre-development due diligence requirements.
Lead review and analysis of submitted application materials including due diligence documents and preliminary underwriting for capitally funded projects and coordinate with program representatives for additional review and follow-up
Act as first point of contact to building owners seeking to learn more about the Preservation Finance Loan Programs, including monitoring project application submissions, responding to inquiries to the loan program and scheduling meetings with potential borrowers to discuss program requirements; assist in outreach to owner/sponsor to complete application workbook containing preliminary due diligence items; answer questions
Lead implementation of the intake process within the Division of Preservation Finance
Serve as the first point of review for key pre-development and due diligence documents, providing substantive feedback to sponsors to advance pipeline projects toward closing.
Coordinate with teams to determine appropriate program assignments; liaise with external and internal stakeholders to move projects forward
Ensure coordination across teams and assist teams in implementing intake process protocol
Producing detailed reports, memoranda, presentations, and written correspondence regarding projects, programs, new initiatives, or other special projects, as needed;
Track and coordinate pipeline projects by maintaining and updating pipeline tracker with borrower information, due diligence progress, assignments and prioritization; compile and disseminate reporting