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Underwriter III (Public Facility Rehabilitation)

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Underwriter III (Public Facility Rehabilitation)

Salary

$76,394.00 - $85,000.00 Annually

Location

Coleman A Young Municipal Center, MI

Job Type

Certified-Regular Civil Service

Job Number

202501HRD13207203MGH

Department

Housing & Revitalization

Opening Date

07/14/2025

Bargaining Unit

9000-Non Union Salary Regular Service General

+ Description

+ Benefits

+ Questions

Description

The Housing and Revitalization Department (HRD) Multifamily Underwriting Team is seeking applicants to assist with evaluating, underwriting, and awarding funds for the development of affordable housing projects to serve City of Detroit residents. The Underwriter III is a key team member that works on the project from the time an application is received through to construction completion.

Under general supervision, the Underwriter III is responsible for the evaluation of funding requests and making recommendations regarding the award of grant, tax incentive, and demolition funds that are used to create and preserve affordable housing, combat homelessness, remove blight, and provide funds for home repair. This is an advanced level position that performs an expanding range of professional underwriting assignments with limited supervision and previous experience in the field. The Underwriter III independently plans and carries out assignments in conformance with accepted policies and practices; adheres to instructions, policies, and guidelines in exercising judgment to resolve more complex work problems; and brings controversial information or findings with recommended actions to the supervisor’s attention.

The Underwriter III will work closely with the supervisor to outline or discuss possible problem areas and defines objectives, plans, priorities, and deadlines. Assignments will typically be completed independently. The Underwriter III may coordinate the work of Underwriter IIs. The Underwriter III performs a variety of program and project management functions. The Underwriter III works on projects of greater complexity, and with greater independence as compared to the Underwriter II level.

Examples of Duties

+ Work directly with developers, consultants, HRD staff, recipients or subrecipients to analyze the contents of application packages to determine whether they meet criteria for support.

+ Interpret and ensure compliance with Federal, State, local, and departmental program regulations, policies, and procedures through extensive underwriting analyses, and provide responses to internal and external inquiries.

+ Lead the City’s financial closing process of development projects with borrowers, lenders and legal teams and assist in the creation, development, implementation, and modifications of legal documents.

+ Coordinate with HRD construction managers and compliance inspectors to understand the development and rehabilitation project’s scope of work and construction costs and performance of work.

+ Manage payment requests for projects under construction and document a running balance of program funds.

+ Recommend changes to policies, procedures, and standards to improve processes and procedures and the team’s alignment with City goals and initiatives.

+ Approve funding within specified limits or criteria or produce memos and present to the HRD Award Committee or management with specific recommendations for the appropriate amount of funding to be invested in projects.

+ Monitor regulations for changes which may affect the operating procedures and policies of the department and associated agencies.

+ Promote public awareness of City housing improvement projects and funding programs by conducting presentations to the public and other community organizations.

+ Perform Housing and Urban Development (HUD) and related housing research as required; prepare reports for City management and City Council and obtain approvals from City Council for recommended funding allocations.

+ Analyze and evaluate housing development pro-forma models for financial feasibility.

+ Collaborate closely with other HRD teams including Public Private Partnership, Policy and implementation, environmental compliance and Asset Management to ensure coordinated efforts across development and rehabilitation projects.

+ Perform special projects and other duties as assigned.

Minimum Qualifications

Qualifications (required):

+ Bachelor’s degree from and accredited college or university with major course work in business administration, public administration, public policy, urban planning, accounting, finance, economics, or other related field of study.

+ Minimum of three (3) years professional experience in risk evaluation related to the granting of loans or insurance for housing development projects, as well as a systematic preparation, review, analysis, interpretation, and evaluation of sub-recipient data, budgets, grants, loans, or other financial data.

+ Minimum of two (2) years of professional project management experience.

+ Minimum of two (2) years of professional experience working with affordable housing programs including but not limited to LIHTC, HOME, CDBG, NSP, Section 8.

+ Minimum of two (2) years of demonstrated capacity for collaboration, performing multiple tasks with shifting priorities, and relationship management.

Equivalent combinations of education and experience may be substituted to meet the education and experience requirements of this position.

Qualifications (preferred):

+ Master’s degree in one of the above fields.

+ Minimum of four (4) or more years of professional experience in each of the above and knowledge and/or experience in Detroit’s affordable housing market or comparable cities.

Supplemental Information

Evaluation Plan

+ Interview: 70%

+ Evaluation of Training, Experience, & Personal Qualifications (TEP): 30%

Additional points may be awarded for:

+ Veteran Points: 0 – 15 points

+ Detroit Residency Credit: 15 point

LRD: 08/15/2024

EMPLOYMENT BENEFITS

The City of Detroit offers a competitive and comprehensive employee benefit package. We pride ourselves on the longevity of our employees. Part of the reason for the low turnover rate is the exceptional benefit package listed below. Benefits include, but are not limited to the following:

HEALTH

+ Medical - Eligible for hospital, surgical, and prescription drug benefits.

+ Dental

+ Vision

INSURANCE

+ Life Insurance - Optional group insurance available to employee and their family. The City pays 60% of premium for first $12,500 of employee life insurance. Employee may purchase, at own expense, life insurance for spouse and each dependent.

+ Long-Term Disability Insurance (Income Protection Plan) - The City offers disability insurance through payroll deductions for persons who become disabled and who are not yet eligible for a service retirement.

PAID TIME OFF

+ Sick Leave

+ Vacation

+ Holidays

OTHER LEAVE BENEFITS

The City also has the following paid and unpaid leaves; funeral leave, Family and Medical Leave, jury duty, military duty leave, unpaid personal leave,

RETIREMENT BENEFITS

City Employees Retirement System

As a regular City employee you automatically become a member of the General Retirement System. This entitles you to a retirement allowance after:

• Completion of thirty (30) years of service;

- At age sixty (60) if you have at least ten (10) years of service, or

- At age sixty-five (65) with eight (8) years of service.

• In the event of disability, other eligibility rules apply);

- An early, actuarially reduced, retirement is offered after you have attained at least twenty-five (25) years of service;

• Employees are vested after ten (10) years of service, regardless of age.

ADVANCEMENT OPPORTUNITIES - Employees have many opportunities for growth and career advancement throughout all City departments and divisions.

Have a successful career with the City of Detroit. Always remember that you are a part of a team with a common Vision of delivering excellent service to the citizens of the City of Detroit.

01

Do you have a bachelor's degree from and accredited college or university with major course work in business administration, public administration, public policy, urban planning, accounting, finance, economics, or other related field of study?

+ Yes

+ No

02

Do you have a minimum of three (3) years professional experience in risk evaluation related to the granting of loans or insurance for housing development projects, as well as a systematic preparation, review, analysis, interpretation, and evaluation of sub-recipient data, budgets, grants, loans, or other financial data? Please briefly explain.

03

Do you have a minimum of two (2) years of professional project management experience?

+ Yes

+ No

04

Do you have a minimum of two (2) years of professional experience working with affordable housing programs including but not limited to LIHTC, HOME, CDBG, NSP, Section 8?

+ Yes

+ No

05

Do you have a minimum of two (2) years of demonstrated capacity for collaboration, performing multiple tasks with shifting priorities, and relationship management? Please explain.

Required Question

Employer

City of Detroit

Address

Coleman A. Young Municipal Center 2 Woodward Ave ste 316 Detroit, Michigan, 48226

Website

http://www.detroitmi.gov/Detroit-Opportunities/Find-A-Job

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