Director Of Development
6 days ago
Foothills Regional Housing "FRH" is a prominent real estate developer, manager, and program administrator for affordable housing. FRH is currently looking for a Director of Development, this position focuses on the financial aspects of development and requires a high level of skill in the area of financial project structuring including the possible refinance/rehab of projects in FRH's portfolio. The qualified candidate is an energetic self-starter who enjoys working in a team environment with staff and various consultants to develop new housing and possibly redevelop existing FRH housing. Position requires excellent judgment and the ability to make critical decisions that align with FRH's goals and mission.
Requirements
DUTIES AND RESPONSABILITIES:
- Assists the Executive team in defining project concepts that meet strategic plan goals and carry out FRH's mission.
- Analyzes development sites and assists in obtaining site control.
- Assesses financial feasibility of projects including development and operations.
- May complete feasibility work related to site investigation, including ordering environmental reports, surveys, capital needs assessments, and soils reports.
- Develops and maintains pro-formas and other financial documents to be shared with consultants, funders and the CEO for financial deal structuring.
- Briefs the CEO and Board of Directors on project issues to secure CEO and Board approvals.
- Negotiates and obtains project financing including grants, loans, tax credits, rental assistance contracts, and other subsidies.
- Prepares applications, negotiates financing agreements and coordinates closings.
- Work with neighbors, local governments and other interested parties through the siting process; coordinates and facilitates public meetings on project development.
- Coordinates pre-development and development processes including funder due-diligence requirements or may work with consultants and attorneys to complete this process depending on the situation.
- Coordinates/participates in land use, design review and permit process and manages FRH's relationship with local government entitlement staff and FRH consultants.
- Participates in weekly project coordination meetings, maintains project timelines, and coordinates design and cost estimates with consultants.
- Evaluates and/or authorizes change orders during construction phase.
- Reviews requisitions and draw requests, collaborates with Finance Department and accounting firms regarding cost certifications, and coordinates project closeout tasks.
- Produces or reviews completion reports to funders and investors.
- Coordinates transition of completed projects to the property/asset management staff.
- Maintains appropriate records of all activities.
- Excellent computer skills, including Microsoft Office software, and advanced proficiency in Excel and on-line research.
- Valid Colorado driver's license and reliable transportation required.
- Able to work independently, make sound decisions quickly under deadline pressures, and tolerate risk.
- Able to understand, and to seek explanation of, complex written directions from government agencies.
- Excellent verbal, written and interpersonal communication and organizational skills.
- Able to work with wide range of entities and people, including government agencies, neighborhood residents and independent contractors.
- Able to work in partnership with funders, investors, consultants, contractors, regulatory bodies, and FRH'S staff.
- Supervise Development Team
- Affordable housing financing tools including LIHTC, Project-Based HAP contracts, CDBG, HOME, bond programs, etc.
- Familiarity with compliance and regulatory requirements of various sources.
- Principles and practices of real estate development.
- Grant writing, housing market studies, development and operating budgets, and real estate transactions.
- Methods, techniques and costs of multi-family housing design and construction.
- Local building, planning and zoning codes.
- Pertinent Federal, State and local laws, codes and regulations governing affordable housing.
- Structure complex financing packages and present them in standardized development and operating pro-formas.
- Prepare competitive funding applications.
- Manage multiple projects concurrently.
- Manage complex and time-critical processes, funding requirements and relationships to complete projects on time and on budget.
- Select, contract with, and manage consultants and development teams.
- Negotiate and administer contracts.
- Bachelor's degree in real estate development, finance, urban planning, business, or related required.
- Minimum three years of progressively responsible experience with residential multifamily and/or affordable housing finance, strong preference for LIHTC project experience.
- A combination of relevant experience and education may substitute for the above requirements.
BENEFITS:
- Employer pays 100% premium of medical, dental, vision, short-term and long-term disability, and life insurance.
- Vacation and Sick time.
- 12 Paid Holidays.
- Retirement plan, employer matches up to 10% of retirement contributions.
- Physical Demands: The position is in an office setting. In the office it is primarily sedentary but requires the ability to move boxes or items weighing a maximum of 20 pounds; positioning oneself to maintain files in filing cabinets; ability to operate personal computers and office equipment; ability to observe documents and record and interpret information; ability to communicate information and ideas so others will understand. Must be able to exchange information in these situations.
- Work Environment: Works in a clean, comfortable environment in the office. Requiring occasional evening and/or weekend hours and some out-of-town travel. Requires ability to walk or otherwise physically inspect construction sites. Must be able to lift 30 pounds and climb multiple flights of stairs.
- Equipment Used: Frequently uses standard office equipment including but not limited to personal computers, scanners, calculators, printers, telephones, fax, and copy machines.
This job description may not be inclusive of all assigned duties, responsibilities, or aspects of the job described, and may be amended at any time at the sole discretion of the Employer.
Salary Description
$92,000 to $125,000/ yearly DOE.
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