The Housing Development Program Manager's primary role is to manage affordable housing proposals from developers seeking local and/or federal funding from the City. This includes regular coordination with affordable housing developers to guide them through eligibility guidelines, the application process, necessary due diligence items, and federal compliance requirements, as applicable. It also includes reviewing applications, underwriting, making financing recommendations, reviewing invoices, tracking loan spend down, and coordinating with city staff to create funding commitment letters and loan documents. The Housing Development Program Manager will oversee the review of development proposals from concept to acquisition, construction and/or rehab, through to development completion. The Housing Development Program Manager is required to perform all similar or related duties.
Essential Functions:
- Evaluate prospective property acquisitions and development proposals by reviewing Pro Formas outlining cash flow, sources, and uses;
- Perform underwriting review with an understanding of City funding source requirements prior to making a recommendation to fund the acquisition and/or development of a property;
- Collaborate with other City staff to identify City funding sources and provide recommendations on other non-City funding sources where necessary;
- Prepare written analyses and recommendations on housing development proposals;
- Draft conditional commitment letters;
- Track due diligence items in preparation for closings, participate in closing calls and collaborate with colleagues both within Housing and other OSPCD divisions and City departments as well as developers on closings;
- Prepare information on development work as needed, including data tracking and other reporting requirements;
- Assist in completing environmental reviews and tracking compliance with other state and federal regulations, as necessary;
- Track development progress during construction, including processing requests for payment, performing site visits, and reviewing lender advisor reports;
- Conduct research and analyses on other sources needed to expand existing development efforts, including Somerville’s 100 Homes partnership with Somerville Community Corporation;
- Work to attract developers of affordable housing to conduct work in Somerville;
- Attend and participate in occasional evening meetings as needed; Other duties as assigned.
Minimum Qualifications
Education and Experience: Bachelor's Degree or advanced degree in planning, business, finance or related field and minimum three to five (3-5) years working in real estate or related field and/or experience in real estate closings, and/or comparable experience; or any equivalent combination of education, training and experience which provides the required knowledge, skills and abilities to perform the essential functions of the job. Demonstrated experience in real estate feasibility analysis, including preparation and review of development pro formas, is highly preferred. Experience working on collaborative and unstructured teams also preferred.
Knowledge, Abilities and Skill
Knowledge: Knowledge of Community Preservation Act, and Municipal Housing Trusts is highly preferred. Familiarity with U.S. Department of Housing and Urban Development Community Development Block Grant, HOME Investment Partnerships Program. Experience in public administration and/or strategies and programs geared toward maintaining and expanding affordable housing opportunities is beneficial; Proficiency in Microsoft Office, specifically Word and Excel; working knowledge of Teams, PowerPoint, and remote meeting platforms such as GoToMeeting and Zoom a plus.
Ability: Ability to communicate clearly and effectively, both verbally and in writing, with other City departments, state and federal agencies, architects, contractors, developers, owners, supervisors, employees, and the general public. Ability to meet and deal with the public appropriately; ability to handle problems and emergencies effectively; ability to multi-task and recognize and adjust to shifting work priorities as needed; ability to operate a computer; ability to maintain confidential information; ability to maintain, manage, and organize records; ability to deal appropriately with City employees, city officials and the general public.
Skill: This position requires strong oral and written communication skills, excellent customer service skills; excellent analytical skills, and associated spreadsheet software skills in Excel. Bi-lingual or multilingual ability in Spanish, Portuguese, Haitian-Creole and/or Nepali is preferred but not required.
The work environment involves everyday discomforts typical of offices, with occasional exposure to outside elements. Noise or physical surroundings may be distracting, but conditions are generally not unpleasant. Employee may be required to work beyond normal business hours in response to attend evening meetings or complete work assignments.
Physical and Mental Requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the position's essential functions.
Physical Skills
Few physical demands are required to perform the work. Work effort principally involves sitting to perform work tasks, with intermittent periods of stooping, walking, and standing. May also be some occasional lifting of objects such as office equipment and computer paper (up to 30 lbs.)
Motor Skills
Duties are largely mental rather than physical, but the job may occasionally require minimal motor skills for activities such as moving objects, operating a telephone, personal computer and/or most other office equipment including word processing, filing and sorting of papers.
Visual Skills
Visual demands require constantly reading documents for general understanding and analytical purposes.
#J-18808-Ljbffr
