Real Estate Development Specialist 4

General Description POSTING EXTENDED* * This recruitment is being extended due to a limited number of applicants. Previously submitted applications will remain under consideration. Prior applicants need not reapply. We're seeking an experienced Real Estate Development Specialist to take on some of the City's most complex and high-profile development initiatives. In this advanced level professional real estate position you'll plan, coordinate, construct, and implement economic development projects and transactions including sale and management of real property interests for the City, financial analysis, negotiation, deal structuring, and project management. This position focuses primarily on the Community Development Authority (CDA) Redevelopment agency's real estate portfolio. Additionally, the position leads the affordable housing redevelopment efforts for CDA properties in coordination with CDA Housing Operations staff. This work requires strict adherence to federal Housing and Urban Development (HUD) regulations and specific guidance for real estate property redevelopment, and often requires extensive interagency coordination of key stakeholders within and outside ofDepartment of Planning & Community & Economic Development Department (DPCED). This role requires considerable independent judgment and discretion in the full range of economic development activities and places emphasis on the more complex and discretionary elements of real estate development including ongoing project management and leadership of various ad-hoc interdepartmental teams. The position operates under the general supervision of the Administrative Services Manager in the Office of Director with oversight from the CDA Housing Director and CDA Executive Director/PCED Director. IMPORTANT: THERE ARE TWO (2) SUPPLEMENTAL ESSAY QUESTIONS ON THE JOB POSTING. YOU MUST ATTACH YOUR RESPONSES IN THE ATTACHMENTS SECTION OF YOUR APPLICATION. (To view the questions, click on the supplemental question tab OR view the bottom section of the job bulletin) APPLICATIONS RECEIVED WITHOUT ATTACHED ESSAY RESPONSES WILL BE ELIMINATED FROM CONSIDERATION. Employees may be eligible for loan forgiveness through thePublic Service Loan Forgiveness Program. Black, Indigenous, people of color, women, trans, nonbinary, and individuals with disabilities are encouraged to apply. We value the unique blend of lived experiences and diverse perspectives that comes from non-traditional education pathways and the variety of transferrable skills each candidate brings to the table. We value diversity, equity, inclusion, and belonging. Even if every item on the job posting doesn't match your experience perfectly, we encourage you to apply and share how your skills and experience can best serve our community. Examples of Duties and Responsibilities Project Management * Conduct site searches for City Real Estate or CDA Housing Development and Redevelopment projects. * Hire through requests for proposals (RFP) developers, architects, and contractors serving on housing development project teams. * Manage complex real estate projects and lead housing development project teams. * Participate in and/or lead City/CDA staff teams to lead and develop housing projects including their planning, financing, construction, and ongoing asset management. * Negotiate complex financial packages for housing development projects (e.g. Section 42 tax credits, bank financing, etc.) * Analyze options and recommend deal structures for housing projects such as lease versus own, ground leasing, condominium, levels of affordability, etc. Financial and Project Analysis * Oversee and/or prepare reports to determine findings of blight, suitability for development, economic feasibility, zoning and land use conformance, probability of project success, and other related information related to financial and project analysis. * Conduct financial and feasibility analysis of housing and other real estate projects, including those requesting financial support from the City. * Provide comprehensive reporting to staff colleagues and policy makers regarding findings of financial and project analysis. Property Acquisition and Disposal * Negotiate and manage transactions for the acquisition and/or sale of City real estate. * Determine and administer the process for the acquisition and/or disposal of land banked and surplus property. * Coordinate with the City of Madison Attorney's Office as needed to support property transactions. General * Track and analyze real estate housing market data and trends. * Respond to housing inquiries from general public and elected officials. * Make presentations on housing development projects to committees and community groups. * Attend training, develop skills, and remain current on issues impacting housing development. * Support special projects to expand and improve affordable housing program delivery in Madison--including grant and program funding applications, HUD property removal applications, RAD applications. Perform related work as assigned. Minimum Qualifications Four (4) years of experience applying all of the following: * Theories, principles, practices, documents and laws applicable to real estate development. * Theories, principles, and practices of commercial real estate finance (discounted cash flow, IRR, basic accounting). * Private and governmental sources of financing and of local, state and federal programs to encourage affordable housing development (such as Public Housing, RAD, Section 8, HOME, CDBG, and/or Section 42 tax credits) and economic development as a whole. * Real estate market trends and data. * Theories, principles, practices, documents and laws pertinent to real estate acquisition, leasing, and sale within a governmental context. Two (2) years of experience in the following: * Governmental agency operations as they relate to real estate development activities. * Computer software applicable to position responsibilities (Microsoft Word, Excel, PowerPoint). * Effective project management techniques. Familiarity with urban planning, construction, and sustainability principles. OR * Two (2) years of highly responsible, varied, and complex professional experience in the areas of economic development, real estate development, or real estate finance comparable to that gained as a Real Estate Development Specialist 3 with the City of Madison. AND * Bachelor's degree in Economics, Business, Finance, Urban Planning, Real Estate, or other related field. Other equivalent combinations of experience, training, and education that demonstrate possession of the knowledge, skills, and abilities required to perform the duties and responsibilities of this position will also be considered. For a complete list of the Knowledge, Skills, and Abilities, please see theclass specification. The City of Madison strives to provide exceptional customer service to all its residents and visitors. Therefore, successful candidates will have demonstrated ability to effectively work with multicultural communities. Special Requirements Ability to meet the transportation requirements of this position. The employee will be expected to attend meetings and provide presentations outside the normal work schedule, including evenings and weekends. Physical Requirements: Work is generally performed in an office environment, using standard office equipment. However, the employee must have the physical ability to perform on-site inspections of buildings and property. The employee will be expected to travel throughout the City to visit city-owned property or property under consideration for acquisition.