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Job Description

About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

- We maintain building and resident safety and health

- We create opportunities for New Yorkers through housing affordability

- We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth. ________________________________________

Your Team:

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives.

The Division of Preservation Finance administers multiple financing programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Housing Preservation Opportunities Program (HPO), The Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes HUD Multifamily Program (HUD MF), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP) il, Neighborhood Pillars Program (“Pillars”) and the LIHTC Portfolio Preservation (Year 15) Program. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Blueprint.

Your Impact:

The Division of Preservation Finance seeks a Project Manager to assist the Federally Assisted Portfolio Preservation Programs Unit which oversees oversees Preservation Finance’s HUD Multifamily, Low-Income Housing Tax Credit Preservation (Year 15) and Supportive Preservation Housing Programs.

Your Role:

A Project Manager will assist with projects in the Supportive Preservation Programs pipeline. You will reporting primarily to the Director of that unit but will also assist the Executive Director, along with other Directors and Deputy Directors as needed.

As Project Manager, you will be responsible for managing supportive capitally funded projects across a variety of supportive housing building types with different ages, bedroom size distributions, populations served, types of supportive service funding, and percentage of supportive and/or homeless units. You will also work with various existing and proposed financing structures including City subsidized loans, Federal and State subsidized loans, conventional bank loans, mezzanine loans, tax exempt bonds and other tools including rental subsidy tools like the federal Rental Assistance Demonstration (RAD). You will also have frequent interactions with external partners including: for-profit and non-profit developers, supportive service providers, tax credit syndicators, banks, NYC Housing Development Corporation, HUD, property managers, attorneys, architects, and general contractors. As Project Manager, you will also manage the intake, assessment, and underwriting of capitally funded projects applying for financing and/or tax benefits, as well as managing projects through closing. You will further assist in monitoring construction progress through completion, and converting the loan from construction to permanent debt.

Your Responsibilities:

Primary responsibilities will include but will not be limited to:

- Performing general project management duties for a range of capitally funded and tax exemption preservation transactions, as needed, including acquisitions, construction loan closings, troubleshooting projects in construction, facilitating project closings, project completion and loan conversions, and preparing recommendations for work-outs.

- Reviewing and analyzing mortgage notes, regulatory agreements, service contracts, and other related documents requiring understanding and applying of complex regulations;

- Advanced financial modeling with an emphasis on affordability analysis, real estate tax benefit analysis, supportive service funding analysis, and cash flow projections;

- Reviewing legal documents for accuracy in regards to program policy and negotiated deal terms and coordinating loan closings with other HPD divisions and programs;

- Ensuring timely completion of transactions;

- Reviewing, analyzing, and commenting on underwriting and preservation proposals submitted by project sponsors and making recommendations to senior staff about feasibility, and facilitating approvals necessary for closings, including credit approval;

- Producing detailed reports, memoranda, presentations, and written correspondence regarding projects, programs, new initiatives, or other special projects, as needed;

- Engaging in programmatic policy discussions;

- Acting as a liaison with developers, financial institutions, community groups, and other governmental agencies to preserve affordable housing

Preferred Skills:

Candidates must have strong financial analysis skills including financial modeling and financial statement analysis, be detailed-oriented, self-motivated and be able to manage multiple projects and meet deadlines. Candidates must also demonstrate strong verbal and written communication skills. Preference will be given to candidates with: a strong financial background (including underwriting experience), knowledge of housing development/lending and knowledge of HPD development programs specifically, demonstrated analytical skills, and ability to work effectively with others to obtain results promptly. Strong proficiency with Excel and Word is required. Candidates with education or experience in Urban Planning, Real Estate Finance, Business Administration or related fields are strongly preferred.

COMMUNITY COORDINATOR - 56058

Qualifications

1. A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or

2. High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or

3. Education and/or experience which is equivalent to "1" or "2" above. However, all candidates must have at least one year of experience as described in "1" above.

Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.

Salary Min: $ 77,500.00

Salary Max: $ 77,500.00