Development Accountant

Model Group is an employee-owned real estate construction, development, and management company with its headquarters in Cincinnati, OH. Founded in 1978, our mission is to positively transform communities. We have a passion for revitalizing urban neighborhoods and are a recognized leader throughout the region in historic preservation, neighborhood revitalization, mixed-use urban development (including neighborhood, retail, office, and institutional uses), market-rate housing, and high-impact affordable housing that is indistinguishable from market-rate housing.

POSITION OBJECTIVE

The Development Accountant is responsible for assisting with the full lifecycle of accounting and financial activities for real estate development projects, from pre-development through construction, placed-in-service, and transition to operations. This role partners closely with Development Project Managers, Construction Accounting, Property Management Accounting, lenders, investors, and auditors, to ensure accurate financial reporting, compliance with debt and equity requirements, and timely funding of projects. The Development Accountant assists with loan and equity draws, tax credit compliance reporting (Low Income Housing Tax Credits, Historic, and New Markets Tax Credits), and provides financial reports throughout the development process.

JOB RESPONSIBILITIES

The Development Accountant assists with pre-development financial activities by tracking costs, forecasting cash flow, reconciling reimbursements, invoicing partners, and supporting Development Project Managers with financial projections and pro-forma. This position supports project closings by opening bank accounts, attending closing calls, assisting to prepare sources and uses schedules, developer fee schedules, and equity installment schedules to support financing execution. The role assists with monthly draw preparation for construction and soft-loan funding, working closely with Construction Accounting and lenders. Responsibilities include maintaining and reconciling job costs, construction-in-progress, loan balances, draw tracking, and project bank accounts, as well as resolving funding issues and ensuring costs are paid timely after draws are funded. The Development Accountant provides tax credit compliance reporting and assists the Senior Development Accountants with cost certification data for Low Income Housing Tax Credits (LIHTC), Historic, and New Markets Tax Credit (NMTC) projects. This includes gathering data and documentation, monitoring eligible basis and qualified costs, and supporting equity funding milestones throughout construction and completion. The position supports the transition of projects to operations by partnering with Property Management Accounting to track post-closing activity, deferred developer fee balances, and compliance reporting. The Development Accountant also prepares accruals and development-stage workpapers for year-end audit preparation.

VALUES, SKILLS, KNOWLEDGE, AND ABILITIES

Commitment. Firm commitment to the company’s core values: Partnership, Innovation, Sincerity, and Stewardship. Passion. Demonstrate a passion for people, urban areas, neighborhood revitalization, and mixed income housing. Problem Solving. Must embrace challenges and be able to effectively solve problems and do so with a positive attitude.

EDUCATION AND PROFESSIONAL EXPERIENCE

Education. Bachelor's degree in accounting, Finance or a related field is required. Knowledge of Low-Income Housing Tax Credits, Historic Tax Credits, and/or New Markets Tax Credits. Preferred. Experience working with external partners , such as lenders, investors, and auditors is preferred. Strong analytical, organizational, and communication skills. Personal Growth. Have the desire and internal fortitude to give of your time, talents, and resources to become the best version of you to positively impact others and the company. Computer and Technical Skills. Proficiency with real estate ERP systems, such as Yardi and strong Excel skills. Team-oriented. Committed to working in a collaborative team environment. Communication. Developed writing and verbal communication skills and the ability to work effectively with other team members. Time Management. Developed organizational, planning and time management abilities utilized to solve problems creatively, manage/schedule multiple priorities, and adherence of deadlines. All duties and responsibilities are essential job functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. #J-18808-Ljbffr Model Group