Project Manager, Federally Assisted Portfolio Preservation Programs for the Division of Preservation Finance

City of New York • New York City, NY

10h

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. 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 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 of Preservation Finance seeks a Project Manager for our Federally Assisted Portfolio Preservation Programs. As Project Manager, working closely with and reporting to the Director and Deputy Directors of the Federally Assisted Portfolio Preservation Programs, you will be responsible for managing the intake, assessment, and underwriting of capitally funded projects applying for financing and/or tax benefits, as well as managing projects through closing. You will have direct and frequent interaction with HUD, NYC Housing Development Corporation, developers and sponsors, lenders and numerous internal and external stakeholders in order to bring the project from its initial phase to the closing of either a loan or tax exemption. You will further assist in monitoring construction progress through completion and converting the loan from construction to permanent debt.

Requirements

• A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or
• High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or
• Education and/or experience which is equivalent to "1" or "2" above. However, all candidates must have at least one year of experience as described in "1" above.
• You should have strong financial analysis skills including financial modeling in Excel and financial statement analysis, be detailed-oriented, self-motivated, be able to manage multiple projects and meet competing deadlines.
• As a successful candidate, you should also demonstrate strong verbal and written communication skills.
• Strong facility with Excel and Word required.
• Authorization to work in the United States is required for this position.
• Applicants are responsible for ensuring that they meet all qualifying requirements for this position at the time of application.

Nice To Haves

• Preference will be given to candidates with: a strong financial background (including underwriting experience), knowledge of affordable housing development/lending and knowledge of HPD development programs and specifically, demonstrated analytical skills, and ability to work effectively with others to obtain results promptly.

Responsibilities

• Performing general project management duties for a range of capitally funded preservation transactions, as needed, including acquisitions, construction loan closings, troubleshooting projects in construction, facilitating project closings, project completion and loan conversions, and preparing recommendations for work-outs.
• Reviewing and analyzing mortgage notes, regulatory agreements and other related documents requiring understanding and applying of regulations;
• Financial modeling with an emphasis on affordability analysis, real estate tax benefit analysis, and cash flow projections including creating pro formas in Excel
• Reviewing legal documents and coordinating loan closings with other HPD divisions and programs;
• Ensuring timely completion of transactions;
• Reviewing, analyzing, and commenting on underwriting and preservation proposals submitted by project sponsors and making recommendations to senior staff about feasibility, and facilitating approvals necessary for closings, including credit approval;
• Producing detailed reports, memoranda, presentations, and written correspondence regarding projects, programs, new initiatives, or other special projects, as needed;
• Engaging in programmatic policy discussions to provide recommendations to Director/Deputy Director;
• Acting as a liaison with developers, financial institutions, community groups, and other governmental agencies to preserve affordable housing; a proven track record facilitating diverse groups of stake holders and strong communication skills are required

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level