Director of Housing Finance

DIRECTOR OF HOUSING FINANCE

Department: HDV / Housing Development Reports To: VP OF REAL ESTATE Direct Reports: Interns FLSA Status: Exempt Salary Range: $130,000 – $170,000

SUMMARY

Reporting to the VP of Real Estate, the Director of Housing Finance provides leadership on the Housing Development (HDV) project financing and pipeline. The Director of Housing Finance is responsible for coordinating, monitoring and ensuring financial feasibility and compliance as they bring housing development projects through the financing, construction, and post construction phases of development, as well as supporting Mutual Housing’s growth by leading and/or assisting in designing and implementing systems for effective communications and information sharing both within the department, other Mutual Housing departments, and outside parties. The position will work with HDV Directors in sourcing, originating, coordinating, and implementing all aspects of the development process. Projects may include new construction, acquisition and rehabilitation, portfolio syndication, inclusionary, and joint ventures with other developers.

ESSENTIAL DUTIES AND RESPONSIBILITIES

STRATEGY & NEW BUSINESS DEVELOPMENT

Supporting VP of Real Estate in developing strategic goals and implementation strategies for Housing Development activities. Supporting organizational growth by assisting in designing and implementing communication and information-sharing systems within Housing Development and between Housing Development and other departments (Property Management, Community Development, Asset Management, Accounting, Communications), the board of directors, and outside partners. Providing analysis and recommendations to the Director of Acquisitions and VP of Real Estate on potential sites, purchase agreements, development plans, financing plans, and potential partners and partnerships. Sourcing, identifying, and evaluating potential new project sites and properties. Negotiating acquisition agreements, as applicable, with Director of Acquisitions. Conducting preliminary feasibility analyses and organizing critical community support. Researching and securing sources of predevelopment, construction, and permanent financing from public and private sources. Propose recommendations for lenders, investors and public programs.

DEPARTMENT LEADERSHIP AND MANAGEMENT

Coordinating with Housing Development Project Managers, Senior Project Managers, Assistant Project Managers and Interns and other any other HDV staff as they pursue project-specific work. This includes ensuring effective methods and high levels of quality control and timely delivery for housing development efforts in securing and closing on project financing, reviewing operating and development budgets and lender and investor documents, reviewing construction draws and monitoring budgets, and coordinating successful transitions through lease up, start of operations, cost certification, stabilization and conversion. Oversight specifically includes assisting Project Managers in working with financial/syndication consultants and recommending project lenders and investors to VP of Real Estate. Review and advise VP Real Estate a full array of development-related documents including loan documents, financing term sheets, applications to outside entities, grant and loan applications. Becoming actively involved in problem-solving on new and existing projects.. This may include taking the lead in negotiating and/or troubleshooting the most difficult or sensitive situations, especially those that involve outside parties. Recruiting, interviewing, making final recommendations in hiring Housing Development staff to VP ensuring they have safe and healthy work environment and ensuring staff have appropriate training. Assisting VP of Real Estate in developing annual department budget. RELATIONSHIP MANAGEMENT AND REPRESENTATION OF MUTUAL HOUSING CALIFORNIA Developing and maintaining positive relationships with lenders, investors, and other project partners and outside parties. Making presentations to and negotiating with government agencies, public and private funders and community organizations. Providing staff support to one or more of the Board committees. Participating in cross-departmental leadership teams or other ad hoc Mutual teams as assigned. Participate in analyzing and advocacy on policy impacts on Mutual Housing development activities. Representing Mutual Housing on one or more boards of outside community and policy organizations. Would likely be related to local or statewide policy. Requirements

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. At least seven to ten years’ progressive experience in housing development, with demonstrated project management skills and hands-on supervisory leadership in overseeing complex development projects with strong financial, legal and community strategic and analytical thinking. Demonstrated experience negotiating and problem-solving with lenders, investors, public agencies and other members of the development team. Knowledge of and experience utilizing and staying in compliance with low income housing tax credits, tax exempt bonds and other public and private financing programs. Well-organized, detail oriented, with ability to manage team work flow with multiple priorities; proficiency in financial analysis using Excel and with word processing software such as Microsoft Word. Strong verbal communication skills and evidence of clear writing ability. Strong presentation skills. Proven ability to provide motivational leadership while working collaboratively in team environment, including multicultural settings. Ability to perceive problems and initiate timely corrective action. Ability to develop and maintain cooperative relationships with prospective lenders, investors, public sector staff and officials, funders, and community organizations as well as other nonprofit organizations involved in housing development and services to low-income households. Must be able to travel to community locations within 90 mile radius of Sacramento office. Sensitivity to the needs and concerns of low-income individuals. Appreciation of and commitment to the mission & vision of Mutual Housing California.

EDUCATION/EXPERIENCE

Bachelor's degree (B. A.) from four-year college or university. Bachelor’s or Master’s Degree in business administration, economics, finance, public administration, community development or other related field is preferred.

ACCOUNTABILITY

Under minimal supervision, exercises independent discretion in performance of most job responsibilities. Exercises considerable latitude; work is reviewed to determine if objectives were accomplished. Objectives are reviewed by top management to ensure alignment with goals. Establishes project financing objectives. Decisions impact success of large projects, achievement of organizational objectives, and influence financial performance.

LANGUAGE ABILITY

Ability to read, analyze, and interpret common Scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to write speeches and articles for publication that conform to prescribed style and format.

MATH ABILITY

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

REASONING ABILITY

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

WORK ENVIRONMENT/PHYSICAL DEMANDS

The work environment characteristics and physical demands described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate. While performing the duties of this job, the employee is regularly required sit, reach with hands and arms and talk or hear. The employee is routinely required to stand and walk. The employee is occasionally required to work in outdoor weather conditions. May require lifting of up to 25 pounds The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow any other instructions, and perform any other related duties, as assigned by their supervisor. #J-18808-Ljbffr Mutual-Housing-California