Job Abstract

The below statements are intended to describe the general nature and scope of work performed by this position. This is not a complete listing of all responsibilities, duties and/or skills required. Other duties may be assigned. Reviews and analyzes affordable housing loan applications. Underwrites acquisition, predevelopment, construction, and/or permanent public loans. Prepares development and loan agreements, ancillary and collateral documents, and project financing negotiates with developers.... more details

Description

AFFORDABLE HOUSING PROJECT MANAGER
DEVELOPMENT SPECIALIST III
FINANCE AND DEVELOPMENT UNIT
HOUSING INVESTMENT AND FINANCE DIVISION
$70,739.64 - $100,292.90 Annually (DOQ)
REGULAR POSITION

The Los Angeles County Development Authority (LACDA) is a dynamic, innovative agency created in 1982 by the Board of Supervisors to generate affordable housing and economic redevelopment throughout Los Angeles County and participating cities. Funded primarily with federal grants, the LACDA is an industry leader in sponsoring new solutions to housing and forming partnerships with private and public agencies. To apply and find out more about the LACDA, please visit our web site at www.lacda.org.

DIVISION OVERVIEW

The Housing Investment and Finance Division (HIF) administers federal, state, and local funds that are made available to for-profit and non-profit housing developers for the development and preservation of affordable and special needs housing. Additionally, it supports low- and moderate-income homeownership, single and multifamily home rehabilitation and sound mitigation, and various community and economic development projects and initiatives.

POSITION OVERVIEW

The HIF Division is seeking a Development Specialist III (Affordable Housing Project Manager) to join the Finance and Development Unit. Under general direction, the Affordable Housing Project Manager will perform specialized and complex assignments to finance, expand, and enhance affordable and special needs housing, and other community and economic development projects and initiatives. The Affordable Housing Project Manager will evaluate affordable housing projects and underwrite LACDA’s loan, prepare loan documents to administer loan funds, monitor construction period financing, review leasing and supportive service plans, and complete conversion to permanent financing activities. In addition, this position may be required to have program management responsibilities over a specific program/project area.

Essential Job Duties

Reviews and analyzes affordable housing loan applications.
Underwrites acquisition, predevelopment, construction, and/or permanent public loans.
Prepares development and loan agreements, ancillary and collateral documents, and project financing negotiates with developers.
Ensures compliance with the LACDA’s financial, design, and supportive services requirements.
Reviews and processes payment applications which include monitoring project budgets and disbursing of LACDA funds at loan closing, construction, and/or permanent conversion.
Provides support for County homelessness and affordable housing initiatives.
Provides support for the issuance of Notices of Funding Availability.
Performs a wide variety of activities related to policy analysis and research, including designing, implementing, coordinating, evaluating, reporting, and monitoring programs and objectives for the purpose of the creation of new and preservation of existing affordable and special needs/homeless housing.
Interprets County, state, and federal policies and regulations and converts to policies and procedures.
Provides affordable housing technical assistance and guidance to partners and stakeholders.
Prepares timely, complete, accurate, and concise written technical documents, including the preparation of reports for the deliberation and approval of HIF’s Loan Committee and the County Board of Supervisors.
Performs a variety of administrative duties including disseminating Requests for Proposals or Qualifications, assisting in performing procurement tasks, and other duties as assigned.

Qualifications

Any combination of education and/or experience that provides the required knowledge, skills, and abilities to perform the essential functions of the position. Experience, as outlined below, may be substituted for required education on a year-for-year basis.

OPTION I:

Bachelor’s degree from a four-year college or university with a degree in Public Administration, Business Administration, Urban Planning, Real Estate Development, or related field.
Three (3) years of progressively responsible professional experience in affordable housing development and/or affordable housing development finance.

OPTION II:

A Master's degree in Public Administration, Business Administration, Urban Planning, Real Estate Development, or a related field.
Two (2) years of progressively responsible professional experience in affordable housing development and/or affordable housing development finance.

DESIRABLE QUALIFICATIONS

Desirable Qualifications are used to identify relevant knowledge, skills, and abilities as determined by business necessity. These criteria are considered desirable qualifications and are not intended to serve as minimum requirements for the position. Applicants who possess these qualifications will not automatically be selected.

Experience in affordable housing underwriting and lending.
Experience analyzing and reviewing real estate proformas to evaluate a project’s feasibility and compliance with agency guidelines.
Experience in affordable housing development and finance within the public sector.

Knowledge of:

Public and private affordable housing financing and local, state, and federal housing support and subsidizing programs.
Public lending requirements, workflow, and timing in the administration of a range of affordable housing funding sources, especially as it applies to the leveraging of other public funding sources.
Rules, regulations, and practices governing affordable multifamily housing development, acquisition/rehabilitation, and other housing-related activities.
Issues and evolving best practices related to the development and operation of permanent supportive housing for homeless and special needs populations, including supportive services, property management, coordinated entry systems, rental subsidies, and local, state, and federal homeless programs.
Financial analytical skills with an understanding of affordable multifamily housing finance; various funding sources, including Low-Income Housing Tax Credits and tax-exempt bond financing; experience interacting with housing developers and investors.
Affordable housing project analysis and loan underwriting
Knowledge of the issues and evolving best practices related to the development and operation of permanent supportive housing for homeless and special needs populations, including supportive services, property management, coordinated entry systems, rental subsidies, and local, state, and federal homeless programs.
General understanding of public lending requirements, workflow, and timing in the administration of a range of affordable housing funding sources, especially as it applies to the leveraging of other public funding sources.
Affordable housing financing strategies

Skill in:

Composing comprehensive, well-written reports.
Communicating effectively orally and in writing, including the preparation of reports, briefing papers, and correspondence.
Analyzing situations, identifying problems, and recommending solutions.
Exercising sound judgement when making decisions.
Interacting professionally with various levels of employees, outside representatives, and public officials.
Establishing and maintaining cooperative working relationships with colleagues at all levels
High level of proficiency using Microsoft Office Suite.
Financial analysis with an understanding of affordable multifamily housing finance; various funding sources, including Low-Income Housing Tax Credits and tax-exempt bond financing.
Organization, coordination, problem solving, and time management, including the planning and managing of multiple projects with time sensitive deadlines.

Ability to:

Prioritize multiple projects utilizing effective time management skills.
Determine strategies to achieve goals.
Work independently and with a team.
Compile and analyze complex data.
Consult, facilitate, collaborate, and negotiate.

NOTE: Resume and cover letter must be submitted with your application.

Additional Information

Equal Opportunity

The LACDA is an equal opportunity employer. We are committed to creating a workplace culture that embraces diversity, equity, and inclusion to advance our mission of building better lives and better neighborhoods.

Reasonable Accommodation

If you are an individual with a disability and need to request reasonable accommodations under the Americans with Disabilities Act (ADA), please call the LACDA, Human Resources at (626) 586-1687 or via email at hr.recruiter@lacda.org.

Application Process

To be considered, all applicants are required to apply online by the filing deadline. Applications will be reviewed for possession of minimum qualifications and evaluated according to the essential functions of the job. In the Work Experience section of the application, applicants must demonstrate their experience by providing a clear description of the work performed as it relates to the position. Each job held must include the dates of employment, name and address of the employer, position title, hours per week, and supervisor. Please note resumes will not be reviewed to determine qualifications.

Supplemental questions are considered a part of the application process and must be carefully answered. All required questions must be completed before the application can be submitted. The supplemental questions will be used to evaluate the applicant's education, training, and experience. Depending on the size of the applicant pool, the supplemental questions may be used as part of the supplemental screening.

To receive credit for required education, applicants must attach a copy of their degree or official/unofficial transcripts. Please note foreign degrees (or degrees completed outside of the United States) require an evaluation of U.S. equivalency conducted by a credential evaluation service such as The National Association of Credential Evaluation Services (NACES) or the Association of International Credential Evaluators, Inc. (AICE).

Please include three (3) professional references in the "Reference" section of your application.
Failure to comply with this application process may result in disqualification.

Screening and Selection Process

Following the review of application materials, the most qualified candidates will be contacted via email and text messaging, if elected, for an assessment test and/or interview. Please check the email account provided on the application for important communications regarding the status of your application and/or next steps.

Salary Compensation

Salary compensation is dependent on qualifications (experience, education, knowledge, skills, and abilities). Initial salary placement is generally made between the start and mid-point of the posted range. New hires are not eligible to start at the maximum of the posted range.

Conditions of Employment

Candidates selected from the process will receive a conditional offer of employment contingent upon successful completion of satisfactory reference checks, a post-offer medical examination, and criminal background check. Background check information will be considered in determining the applicant's suitability for the position.

Candidates must possess a valid California Class C Driver's License, an acceptable driving record, and must comply with the LACDA's Motor Vehicle Safety Policy during employment.

Failure to meet these pre-employment requirements will be grounds for withdrawal of the conditional offer of employment.

Proof of authorization to work in the United States will be required at the time of hire.

Employment with the LACDA is at-will and may be terminated at any time with or without cause.

FILING DEADLINE: APRIL 24, 2024 @ 11:59PM

APPLY IMMEDIATELY, POSITION MAY CLOSE WITHOUT PRIOR NOTICE.

RECRUITMENT NUMBER: 24023

Apply with Los Angeles County Development Authority

Search Terms: Project Manager, Development, Housing, Specialist, Manager

Job Abstracts is an independent Job Search Engine. Job Abstracts is not an agent or representative and is not endorsed, sponsored or affiliated with any employer. Job Abstracts uses proprietary technology to keep the availability and accuracy of its job listings and their details. All trademarks, service marks, logos, domain names, and job descriptions are the property of their respective holder. Job Abstracts does not have its members apply for a job on the jobabstracts.com website. Additionally, Job Abstracts may provide a list of third-party job listings that may not be affiliated with any employer. Please make sure you understand and agree to the website's Terms & Conditions and Privacy Policies you are applying on as they may differ from ours and are not in our control.