Development Officer

Special Note: The posted salary is an estimate of the potential annual pay. Final offer will be dependent on qualifications and experience.

Anticipated Hiring Pay Scale: Candidates can expect to be hired within the 8-step annual salary range of $170,060.80 - $209,144.00.

***POSITION OPEN UNTIL FILLED***

Characteristics of the Class:

Under general direction and reporting to the Director of Development, the Development Officer (DO) performs complex professional work of considerable difficulty managing HACLA’s real estate portfolio, including development, redevelopment, repositioning of assets, and acquisition. The DO represents HACLA with external stakeholders in advancing assigned projects and is responsible for the successful execution of assigned projects, including financial feasibility, budget, schedule, regulatory approvals, transaction closing, construction, conversion, and transition to operations and asset management.

The DO works independently to direct and coordinate a development team relying on internal and external project staff, third party consultants and development partners to source and evaluate development opportunities, negotiate the repositioning of assets, acquisition and rehabilitation of new assets, and redevelopment of large, complex public housing sites, among other projects. The Development Officer is responsible for leading project due diligence and delivery, establishing milestones and budgets, and securing public and private financing. Additionally, the DO will lead the underwriting and negotiating terms for purchase agreements, development and consultant contracts, purchase and sale agreements along with property and ground leases, and complex financing documents related to real estate transactions. The DO also leads financial and real estate closings, coordination of required executive and Board approvals, and will work closely with the City, State, HUD and other regulatory bodies on entitlements, underwriting, reporting, environmental review, financing applications, relocation, and other community stakeholder related obligations.

Examples of Essential Functions:

• Oversight and management of complex real estate projects which includes affordable and market-rate housing acquisitions, development, and rehabilitation programs and operations; major public infrastructure projects; and mixed use, mixed income development from inception and predevelopment through construction, conversion, and transition to operations and Asset Management.
• Leads and coordinates real estate and financial closings and project conversion activities, including satisfaction of lender, investor and public agency requirements, permanent financing conversion, cost certification, placed-in-service requirements and issuance of IRS Form 8609s, where applicable.
• Prepares scopes of work, Requests for Proposals, Requests for Qualifications and other related documents with respect to development projects; coordinates and organizes documents related to the procurement process and leads a team that reviews, analyzes and evaluates development solicitation proposals received in response to such procurements; and analyzes and manages the resulting services contracts, schedules, and budgets.
• Identifies and develops project acquisition and funding opportunities; and feasibility analyses of new acquisition and development projects including development budgets, sources and uses, preparing and reviewing development and operating proformas, cash flows and financing scenarios, and other financial analyses.
• Identifies, pursues and negotiates public and private financing sources, including tax credits, tax-exempt bonds, conventional debt, public subsidies, grants and other financing sources; coordinates with lenders, investors, public agencies and financial consultants through financial closing and conversion.
• Negotiates, reviews, interprets, and guides execution of development-related agreements, including ground leases, joint development agreements, exclusive negotiation agreements, reciprocal easement agreements, and covenants; helps resolve legal, contractual, and technical issues by working with internal and outside counsel on such agreements including purchase and sale agreements, financing documents and regulatory agreements where applicable.
• Analyzes and interprets real estate appraisals, development proformas, project budgets, and other financial information related to development projects and uses such analyses and interpretations to inform development related agreements, including working with financial consultants to complete review and negotiation.
• Provides owner-level oversight during design and construction, including monitoring project scope, schedule, budget, contingency, change orders, financing requirements and significant project risks, and coordinates with architects, engineers, contractors, construction manager(s), development partners and consultants to resolve issues affecting project delivery.
• Directs and manages master planning, including California Environmental Quality Act (CEQA) and National Environmental Policy Act (NEPA) processes for large redevelopment projects; coordinates with third party consultants, resident and community organizations, and project partners on the preparation of planning documents according to project schedules.
• Reviews, monitors, and evaluates the effectiveness and efficiency of programs and services methods and procedures; supervises and coordinates activities of staff; consults with and assists various HACLA officials and agency representatives in the resolution of problems; makes recommendations or takes corrective action as appropriate.
• Coordinates development activities with HACLA departments, outside agencies and organizations, including legal counsel; provides staff assistance to the Chief Strategic Development Officer; prepares and may present reports, updates, and other necessary communications.
• Organizes and leads community outreach efforts and facilitates stakeholder and leaseholder meetings to garner support, receive input related to any projects, as well as provide important information, which can includes coordination of relocation, right-to-return commitments, and other applicable resident protections for assigned projects.
• Guides the development and implementation of Development Services goals, objectives, policies, budgets, and priorities for assigned portfolio; recommends appropriate service and staffing levels; allocates resources accordingly.
• Participates in the development of departmental policy and procedures; recommends and assists with the implementation of policies and procedures in assigned activities.
• Attends, participates, and may present at professional meetings and conferences; stays abreast of new trends and innovations in the fields of real estate, urban planning, finance, redevelopment, and affordable housing development and rehabilitation.
• May be required to drive a vehicle to different sites and/or locations.
• Performs other related duties as may be assigned.

Knowledge of and Track Record in Utilizing:

• The theories, principles, and practices of real estate development, transit-oriented development, land use planning, urban design, project management, contract administration and negotiation, and business and public administration.
• Principles and practices of municipal planning, including environmental regulations and public policy issues, land use entitlements, and obtaining approvals and permits from other agencies.
• Principles of community development and public engagement.
• Large scale multi-family development and redevelopment activities, including utilization of low-income tax credit and bond financing.
• Project cash flows, pro-forma of financial statements, sources, and uses of funds to maximize the potential returns to HACLA from its assets and from the sale of tax credits and revenue bonds to potential investors and other funding sources.
• Pro-forma analysis of development costs, cash flow, operating costs, including direct construction costs, and related activities.
• Approaches with obtaining tax-exempt financing, preparing bid documents for soliciting investors, lenders, underwriters and/or credit enhancers and assisting with negotiations.
• Preparing applications for private and public funding from other government agencies.
• Negotiating fees, expenses, and terms of investment and closing financial transactions.
• Partnership agreements, disposition, lease, and loan agreements especially relative to Department of Housing & Urban Development (HUD) regulations.
• Negotiation and deal structuring with developer/partners, property owners, and government agencies.
• Preparation, negotiation, and finalization of construction contracts, loan documents and assistance with resolution of financing issues for each component of the project and other related agreements.

Minimum Requirements:

Education and Experience

Bachelor’s Degree in Business Administration, Economics, Public Administration, Urban Planning, Real Estate Management, Engineering, Architecture, or a closely related field - AND Six (6) years of work experience in public housing, affordable housing, or a real estate redevelopment environment; including at least (3) three years of senior level management experience; or the equivalent combination of education and experience which meet the minimum qualifications requirement.

Desired Qualifications

• Experience in sourcing, structuring, and negotiating real estate transactions, preferably with experience in affordable housing transactions, which include public subsidies, low-income housing tax credits and tax-exempt bonds.
• Advanced management experience in reviewing, creating, preparing, and modeling real property financing which shall include work in government-assisted programs for developing, and financing mixed-use/mixed-income, affordable and market rate developments including both multifamily housing and commercial elements.
• Experience managing complex real estate development projects through multiple phases of the development lifecycle.
• Extensive experience in Excel, creating pro formas, budget planning and control, fiscal management, and personnel administration.
• Advanced experience in project management, inclusive of direct oversight of real estate and community development projects.
• Advanced experience in real estate underwriting, including the ability to independently evaluate complex development and acquisition opportunities, prepare and review development and operating pro formas, sources and uses, cash flow projections, investor level returns, financing structures, sensitivity analyses, and assess overall project feasibility and risk.
• Master’s Degree in Business, Real Estate, Finance, Economics, Urban Planning, or related field.

Special Requirement

Must possess a valid California Class C Driver’s License.

APPLICATION PROCESS

Applications will be reviewed for relevant experience, education, and/or training. Applications must be detailed and complete for proper evaluation. Resumes may be included but may not be submitted in lieu of application content. Only the most-qualified applicants will be considered and may be invited to the interview and selection process.

SELECTION PROCEDURE

Applications will be reviewed for relevant experience, education and training. The application must be detailed and complete for proper evaluation.

HIRING INFORMATION

All job offers are contingent upon providing a successful completion of a pre‑employment evaluation, which includes: a post‑offer medical examination (includes drug and alcohol screening), criminal records check, employment history and education verification, and documentation of the right to work in the United States.

Candidates will start at step one (1) of an eight (8) step salary range unless there are special exceptions in accordance with agency Personnel Rules.

DISABILITY ACCOMMODATION

Testing Accommodations: If you require an accommodation due to a physical, mental or learning disability, please call View phone number on click.appcast.io or email View email address on click.appcast.io no less than 72 hours prior to testing date for special assistance. Special testing accommodations may be arranged if verification of the disability is provided by a physician, rehabilitation counselor, or other authority.

Candidates who require a reasonable accommodation in any portion of the selection process should state their need in writing when submitting an application.

NOTE: The provisions of this announcement do not constitute an expressed or implied contract and any provisions contained in this announcement may be modified or revoked without notice.

We are an Equal Opportunity/Affirmative Action Employer.

Pursuant to the Housing Authority of the City of Los Angeles' Conflict of Interest Policy, new and existing employees are required to refrain from participating in activities, employment or enterprises, which are in conflict with public interest and/or with his or her duties as an employee of the Authority. A copy of the Conflict of Interest Policy may be obtained by visiting our website at:

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