Vice President, Multifamily Finance

New York Housing Trust Fund • Albany, NY

26d • Hybrid

About The Position

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State. This position is with HCR's Housing Trust Fund Corporation (HTFC). This is not a civil service position and does not require a civil service exam. Candidates must meet the minimum qualifications outlined below to be considered. NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce that represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency. The Office of Multifamily Finance & Development actively engages with a range of partners including for-profit, and not for profit borrowers, municipalities, lenders, investors and other funding entities to leverage Low Income Housing Tax Credits, tax exempt bonds, single family lending programs, and a multitude of State funded programs. Our resources have helped finance tens of thousands affordable apartments and affordable homes in communities across the State. Finance & Development has primary responsibility for implementing many of the initiatives under the Governor’s Housing Plan, an unprecedented 5-year$25 billion investment to create or preserve 100,000 units of affordable and supportive housing. The Multifamily Finance division offers financing to encourage a wide range of affordable housing, including preservation and rehabilitation of existing affordable multifamily rental housing, including public housing; new construction of affordable and mixed-income multifamily rental housing for households of all ages; and integrated supportive housing developments serving formerly homeless households with disabilities or other life challenges. They oversee capital fund programs that are combined with both the 4% and 9% Low-Income Housing Tax Credit (LIHTC) tax credit programs.

Requirements

• Bachelor’s degree with concentration in Housing or Urban Planning and nine years of experience required
• Substitutions: four years of specialized experience or associate degree and two years of specialized experience may substitute for bachelor’s degree; J.D. or master’s degree may substitute for one year of specialized experience; Ph.D. may substitute for two years of specialized experience.
• Ability to establish effective working relationships
• Excellent oral and written communication skills.
• Strong analytical and organizational skills.
• Applicants must include a resume.

Responsibilities

• Oversees the day-to-day operations of the Multifamily Finance team working on the creation of new units of affordable housing.
• Oversees the underwriting and approval of construction and permanent financing for the creation/preservation of multifamily housing that utilize 9% LIHTC, State Low-Income Housing Credits (SLIHC), as well as a variety of housing subsidy loan sources deployed by the Agency.
• Directs the development of multifamily housing financings.
• Oversees the annual RFP for 9% LIHTC, SLIHC and related subsidy loan sources.
• Directs a team of professionals who are processing project applications through mortgage closings.
• Contributes to the creation of innovative financing structures/Agency term sheets.
• Develops and implements underwriting policy and procedures.
• Works in coordination with the Senior Vice President of Multifamily Programs to deploy Agency resources and personnel in the unit to meet the mission, goals and objectives of the Agency with respect to its multifamily housing activities.
• Coordinates with internal offices such as Office of Legal Affairs, Fair and Equitable Housing Office, and Design, Construction & Environmental Unit to advance projects through the development process.
• Collaborates with other State and local agencies on various coordinated investments and programs, including representing the Agency in various interagency initiatives, as assigned.
• Exercises independent judgment concerning the deployment of Agency personnel and resources in the unit, with respect to the hiring, promoting, evaluating, training and retaining of staff.

Benefits

• Extensive benefits package including participation in New York State’s Health Insurance Program and New York State & Local Employees’ Retirement System.
• Promotional opportunities for dedicated professionals.
• Work-life balance benefits including a 37.5-hour work week, opportunity for compressed scheduling, and paid time off benefits (vacation, sick, personal days, and federal holidays).
• 12 weeks of Paid Parental Leave.
• Paid Family Leave.
• As a New York State employee, you may qualify to participate in the Federal Public Service Loan Forgiveness Program (PSLF).
• The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under an accepted repayment plan and while working full-time for an eligible employer.

What This Job Offers

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