Development Officer

Los Angeles County Development Authority•Los Angeles, CA

2d•Onsite

About The Position

The Los Angeles County Development Authority (LACDA) is seeking a Development Officer to join the Finance and Development unit within the Housing Development and Preservation Division (HDP). This role is responsible for managing LACDA’s loans and other interests on multiple affordable housing projects from conception through completion. The position involves underwriting acquisition, predevelopment, construction, and permanent public loans, conducting feasibility analysis, negotiating loan terms, reviewing and monitoring the loan development and construction process, and providing technical assistance to borrowers. The division administers federal, state, and local funds for affordable housing development and preservation, supports homeownership, rehabilitation, and community development projects.

Requirements

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.
One (1) year of responsible experience providing administrative and/or project support related to real estate development, affordable housing programs, loan administration, housing finance, or a related field.
Knowledge of principles, practices, and methods of public and governmental affordable housing programs, policies, and financing sources, including state and federal tax credit and bond programs.
Knowledge of quality assurance and quality control principles and practices within areas of expertise.
Knowledge of principles and techniques of conducting analytical studies, evaluating alternatives, making sound recommendations, and preparing and presenting effective reports.
Knowledge of real estate financial modeling.
Knowledge of subsidized housing program rules and regulations.
Knowledge of federal, state, and local funding programs and requirements applicable to assigned functional area.
Knowledge of principles and practices of public agency procurement rules, regulations, and procedures.
Knowledge of best practices in affordable housing development, design, management, and service provision.
Knowledge of applicable federal, state, and local laws, rules, regulations, and procedures relevant to assigned areas of responsibility.
Knowledge of recent and on-going developments, current literature, and sources of information related to assigned area of responsibility.
Knowledge of principles and procedures of record keeping.
Knowledge of Authority and mandated safety rules, regulations, and protocols.
Knowledge of techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and Authority staff.
Knowledge of the structure and content of the English language, including the meaning and spelling of words, rules of composition, and grammar.
Knowledge of 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 professional and technical support related to development projects, programs, studies, and initiatives.
Ability to identify problems, research, and analyze relevant information, and develop and present recommendations and justification for solutions.
Ability to ensure development project loan underwriting documentation complies with federal, state, and local financing regulations.
Ability to develop, modify, and interpret financial proformas applicable to affordable housing projects.
Ability to collaborate with a variety of third-party entities to complete housing development construction projects.
Ability to review and administer legal documents and contracts.
Ability to perform complex mathematical and financial computations accurately.
Ability to underwrite affordable housing project loans.
Ability to cooperate with conventional lenders and asset managers to deliver timely reporting and documents.
Ability to maintain the confidentiality of various proprietary financial information encountered in the course of work.
Ability to research, analyze, evaluate, understand, interpret, and apply programs, policies, procedures, and guidelines, and develop sound recommendations.
Ability to prepare clear and concise reports, correspondence, policies, procedures, and other written materials.
Ability to interpret, apply, explain, and ensure compliance with federal, state, and local policies, procedures, laws, and regulations.
Ability to coordinate and collaborate with a variety of internal and external stakeholders, community groups, and government agencies related to assigned functions, programs, and/or projects.
Ability to maintain accurate logs, records, and written records of work performed.
Ability to use tact, initiative, prudence, and independent judgment within general policy, and procedural, and legal guidelines.
Ability to independently organize work, set priorities, meet critical deadlines, and follow-up on assignments.
Ability to effectively use computer systems, software applications relevant to work performed, and modern business equipment to perform a variety of work tasks.
Ability to communicate clearly and concisely, both orally and in writing, using appropriate English grammar and syntax.
Ability to establish, maintain, and foster positive and effective working relationships with those contacted in the course of work.
Must possess mobility to work in a standard office setting and use standard office equipment, including a computer; vision to read printed materials and a computer screen; and hearing and speech to communicate in person and over the telephone.
Finger dexterity is needed to access, enter, and retrieve data using a computer keyboard or calculator and to operate standard office equipment.
Employees must possess the ability to lift, carry, push, and pull materials and objects up to 15 pounds.

Nice To Haves

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, Finance, or a related field.

Responsibilities

Performs a variety of 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.
Participates in the administration of select project phases, including but not limited to predevelopment, construction loan closing, construction, project lease-up, or permanent loan conversion.
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.
Verifies and reviews forms and reports for completeness and conformance with established regulations and procedures.
Applies Authority, departmental, and program policies and procedures in determining completeness of applications, records, and files.
Interprets and applies Authority, division, and departmental policies, procedures, and regulations related to assigned area of responsibility.
Ensures program and project activities comply with legal and regulatory requirements.
Serves as a liaison with developers, lenders, contractors, vendors, project managers, other agencies, and Authority staff to obtain and relay information and to coordinate activities among stakeholders.
Prepares and processes various documents requiring professional knowledge of the Authority and division’s functions, which may include contracts, agreements, legal/official documents, applications, correspondence, and periodic reports.
Assists 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.
Assists with coordinating project financing functions with multiple stakeholders.
Prepares, composes, and edits a variety of written communications including reports, correspondence, legal documents, contracts, agreements, Requests for Proposals, tax credit and loan applications, Loan Committee reports, and financial documents related to assigned responsibilities.
Reviews documents for accuracy, completeness, and conformance to applicable standards and regulations prior to approval by management.
Conducts research, analyzes information, and prepares comprehensive reports on topics related to assigned projects and programs.
Attends and participates in professional group meetings and stays abreast of new trends and innovations in the fields of real estate development and affordable housing.
Organizes, coordinates, maintains, and updates departmental record systems.
Enters and updates information with departmental activity, files, and report summaries.
Retrieves information from systems as required.
Performs other related duties as assigned.