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

City of New York • New York City, NY

3d

About The Position

The Division of Preservation Finance seeks a Project Manager for our Federally Assisted Portfolio Preservation Programs. The Federally Assisted Programs include Preservation Finance’s HUD Multifamily and Low-Income Housing Tax Credit Preservation (Year 15) Programs. These two programs account for 19% of the annual MMR in Preservation and combined have closed an average of more than 3,800 units per fiscal year for Housing New York 2.0. Both programs focus on portfolios of projects that have previously received federal assistance via LIHTC (4% and 9%s) and/or where a majority of the units are covered by a form of project-based rental assistance in the five boroughs.

Requirements

• Authorization to work in the United States is required for this position.
• 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.
• Strong facility with Excel and Word required.

Nice To Haves

• Strong financial analysis skills including financial modeling in Excel and financial statement analysis.
• Detailed-oriented, self-motivated, able to manage multiple projects and meet competing deadlines.
• Strong verbal and written communication skills.
• 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

• 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