Job Abstract

THIS IS A NON-CIVIL SERVICE POSITION

POSTING DATE: 05/22/2024

CLOSING DATE: 08/22/2024 AT 12:00AM MIDNIGHT

SALARY: $83,165.00 - $116,000.00 Annually

CLASS DESCRIPTION

The Director of Project Finance for our Development Division is responsible for underwriting complex multi-family affordable housing projects.  The position involves loan closing and asset management activities; and includes supervision of administrative and program staff and property inspection personnel. The incumbent reports to the Assistant Commissioner of the Development division.

ESSENTIAL FUNCTIONS

• Manages the City’s HOME Investment Partnerships (HOME) Program for multi-family affordable housing development projects.  
• Ensures HOME program is administered in accordance with HUD requirements, including the supervision of compliance and administrative staff for all aspects of the program.
• Maintains and supplies program records for HUD and City audit processes, manages HUD IDIS activity
• Conducts complex financial analysis, determines financial feasibility, and underwrites and assesses affordable housing development proposals and develop written and oral funding recommendations for loans and other financial assistance.  Underwrites tax abatement for affordable housing projects under the City’s Payment In Lieu of Taxes (PILOT) program.
• Reviews applications of housing developers for loans and other financial assistance.  Reviews construction budgets, project plans, appraisals, inspection reports and other real estate documents.
• Coordinates with City, State, and Federal agencies and private financial institutions to provide loans, mortgages and financing for new construction and/or renovation of residential multi-family and other community development projects.
• Prepares Board of Estimates recommendations on financial assistance, including loans and PILOTs, and manages the City approval process. 

EDUCATION AND EXPERIENCE REQUIREMENTS

EDUCATION: Have a bachelor’s degree in business administration, Accounting, Public Administration, Management, Finance or related field from an accredited college or university.

AND

EXPERIENCE: Have eight (8) years of experience in real estate and real estate development loan administration, including three (3) years of such supervisory responsibilities as disciplining, evaluating the performance of and recommending the hiring, firing and promoting of others.

OR

NOTES(EQUIVALENCIES): Have an equivalent combination of education and experience.

KNOWLEDGE, SKILLS, AND ABILITIES

• Knowledge of underwriting multi-family affordable housing projects with public subsidy including Low-Income Housing Tax Credits (LIHTC). 
• Knowledge of the industry practices for construction and permanent financing of multi-family housing.
• Knowledge of complex deal structures and financial analysis of budgets proforma modeling using Microsoft Excel.
• Ability to communicate effectively and to present complex deal structures for approval orally and in writing.
• Ability to interpret, explain and implement Federal, State and private financial institutions’ policies pertaining to loans and development financing.
• Ability to supervise staff and develop operational programs and procedures.
• Ability to establish and maintain effective working relationships with city officials, community, and business groups.
• Ability to manage and develop formal and written policies and procedures for complying with and completing federal financial assistance agreements including the HOME Investment Partnership program. 

NOTE: Those eligible candidates who are under final consideration for appointment to this position will be required to submit to drug and alcohol testing and criminal background check.

Financial Disclosure:

This position is required to complete a Financial Disclosure pursuant to Sections 7-7, 7-8, and 7-9 of the City Ethics Law. 

BALTIMORE CITY AN EQUAL OPPORTUNITY EMPLOYER