Supportive Project Manager

City of New York • New York City, NY

8d

About The Position

The Division of Preservation Finance seeks a Project Manager to assist the Federally Assisted Portfolio Preservation Programs Unit which oversees Preservation Finance’s HUD Multifamily, Low-Income Housing Tax Credit Preservation (Year 15) and Supportive Preservation Housing Programs. As Project Manager, you will be responsible for managing supportive capitally funded projects across a variety of supportive housing building types with different ages, bedroom size distributions, populations served, types of supportive service funding, and percentage of supportive and/or homeless units. You will also work with various existing and proposed financing structures including City subsidized loans, Federal and State subsidized loans, conventional bank loans, mezzanine loans, tax exempt bonds and other tools including rental subsidy tools like the federal Rental Assistance Demonstration (RAD). You will also have frequent interactions with external partners including: for-profit and non-profit developers, supportive service providers, tax credit syndicators, banks, NYC Housing Development Corporation, HUD, property managers, attorneys, architects, and general contractors. As Project Manager, you will also manage 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 further assist in monitoring construction progress through completion, and converting the loan from construction to permanent debt.

Requirements

• Strong financial analysis skills including financial modeling and financial statement analysis.
• Detailed-oriented.
• Self-motivated.
• Able to manage multiple projects and meet deadlines.
• Strong verbal and written communication skills.
• Strong proficiency with Excel and Word is required.
• 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.

Nice To Haves

• A strong financial background (including underwriting experience).
• Knowledge of housing development/lending.
• Knowledge of HPD development programs specifically.
• Demonstrated analytical skills.
• Ability to work effectively with others to obtain results promptly.
• Education or experience in Urban Planning, Real Estate Finance, Business Administration or related fields are strongly preferred.

Responsibilities

• Performing general project management duties for a range of capitally funded and tax exemption 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, service contracts, and other related documents requiring understanding and applying of complex regulations.
• Advanced financial modeling with an emphasis on affordability analysis, real estate tax benefit analysis, supportive service funding analysis, and cash flow projections.
• Reviewing legal documents for accuracy in regards to program policy and negotiated deal terms 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.
• Acting as a liaison with developers, financial institutions, community groups, and other governmental agencies to preserve affordable housing.

What This Job Offers

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