Federal and Special Initiatives Investment Lead

State of Washington•Multiple Locations Statewide, WA

1d•Remote

About The Position

The Department of Commerce is seeking a Federal and Special Initiatives Investment Lead (COM 4) to join their Housing Division. This role focuses on developing and preserving affordable housing, promoting self-sufficiency, and reducing homelessness by managing federal and state housing programs. The position requires high-level technical expertise in the financing of affordable housing, including permanent supportive housing. Responsibilities include developing processes, tools, manuals, and underwriting guidelines for federal and special initiative funding, as well as managing funding rounds and special state initiatives. The role involves working with various stakeholders, including potential fund recipients, developers, the public, local governments, federal funders, and private investors. A key aspect is ensuring equitable distribution of funds and acting as the state's securitization specialist for HOME and National Housing Trust Fund programs. The position may also supervise lower-level staff.

Requirements

Eight (8) years of combined experience and/or education in community, trade, or economic development with a focus in two or more of the following areas: Affordable housing finance, Real estate underwriting, Contracting, Analyzing and applying policies, laws, rules or regulations regarding affordable housing finance.
Intermediate level experience using data management, data visualization, and process improvement tools/methodologies.
Four (4) of the eight years must include advanced level experience underwriting, structuring, and closing non-owner user commercial and/or multi-family real estate transactions.
Education involves housing finance, business, public administration or related field. Qualifying education post High School or equivalent may be substituted year for year for experience.
Intellectually curious, results oriented problem solver.
Internally motivated self-starter with a focus on efficiency, correctness and process improvement.
Enjoys the challenges associated with transitionary business processes and thrives on making a difference.
Positive attitude and solution oriented.
Proficiency in verbal and written communication skills to clearly and succinctly document and describe processes, procedures, performance measures, and results.
Ability to track, organize and maintain individual workload timely and efficiently.

Nice To Haves

Experience working with state Housing Trust Fund and HOME and National Housing Trust Fund federal housing program regulations.
Experience reviewing not-for-profit financial reports (annual audits, financial statements, cash flow).
Demonstrated knowledge of agencies, institutions, and processes involved in affordable housing development financing.
Thorough knowledge of grant and loan administration, contracting and accounting.
Experience working in a collaborative and team-based environment.
Experience working in an open work environment and/or telework.

Responsibilities

Establish and implement procedures for competitive loan and grant processes for affordable housing creation and preservation in accordance with federal and state regulations.
Write and publish Notices of Funding Availability (NOFAs) for federal and state programs.
Develop and maintain program application forms and lead the application review process.
Collaborate with state counterparts for optimal use of funds statewide.
Serve as a statewide subject matter expert for federal affordable housing programs (HOME and NHTF), establishing program policies, processes, and priorities.
Represent the Multifamily Housing Unit (MHU) as a federal programs expert, providing technical consultation, presentations, and testimony.
Spearhead collaboration efforts with stakeholders for input in program design and implementation.
Convene and lead public hearings and public comment periods.
Provide expert-level technical assistance and consultation to fund recipients.
Lead the submittal of reports and data to HUD.
Research best practices of other participating jurisdictions and assess for adoption.
Prepare proposed legislation for new initiatives and navigate the legislative process.
Supervise a team of professional staff, including delegating workload, providing feedback, coaching, development, and performance evaluation.
Perform all aspects of the hiring process in coordination with Human Resources.