Project Development Director

Job DescriptionJob Description

POSITION OVERVIEW:

The Development Director is a senior administrative position within the Decatur Housing Authority who is expected to perform successfully with minimal oversight and direction from the Executive Director. The Development Director reports directly to the Executive Director, with financial and audit oversight from the Finance Director. The Development Director is actively involved in the Authority’s real estate development of new rental properties and redevelopment of existing properties, including relocation, tax credits, and potential homeownership opportunities. This complex and detailed work requires a well-organized individual with substantial knowledge, skills, and abilities to fully succeed in this position.

 

DUTIES AND RESPONSIBLITIES:

The statements contained here reflect general details as necessary to describe the principal functions of this job, the level of knowledge and skill typically required and the scope of responsibility but should not be considered an all-inclusive listing of work requirements. Individuals may perform other duties as assigned including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload. The functions listed are also examples of duties that may be required and in no way imply a contractual agreement between the employer and employee or affect the at-will relationship between the parties.

1. Identifies, evaluates, and proposes real estate acquisition and development, and/or other activities, which enables the Authority to diversify its property inventory and income sources.

2. Researches, analyzes, and determines the feasibility of real estate opportunities and/or other programs.

3. Coordinates and manages ongoing real estate acquisition, development, and financing activities.

4. Analyzes the Georgia Department of Community Affairs (DCA) threshold and scoring viability for Low Income Housing Tax Credit (LIHTC) applications.

5. Coordinates/manages the preparation of DCA funding applications and ensures compliance with application guidelines.

6. Completes applications and documentation necessary for debt and equity financing, property purchase and sale, and government subsidy approval and renewal.

7. Oversees project cost tracking to ensure alignment of funding sources and uses.

8. Manages and processes due diligence requirements for equity investors, financial institutions, and government entities.

9. Processes equity and lender draw preparation and submission and capital contribution requests to various funders.

10. Prepares loan conversion packets for various lenders, including Final Allocation Applications to DCA.

11. Analyzes and compares complex partnership agreements and cash flow waterfalls.

12. Develops and manages project pro forma including budgets, schedule, timing, and underwriting assumptions.

13. Builds, coordinates, and leads internal team members and external consultants through conceptual design and entitlements leading to construction documents.

14. Performs, coordinates, and/or leads pre-development work including preliminary architectural and engineering issues, zoning issues, and garnering local government and community support.

15. Negotiates contracts and reviews legal documentation with assistance of Executive Director and legal counsel.

16. Works closely with management companies, the DHA asset management team, and investor asset management teams on all property management issues and construction closeout items.

17. Works with the DHA asset management team to evaluate current portfolio for refinance opportunities and assist with loan closings.

18. Works with consultants and legal team on all items regarding current properties and upcoming projects to ensure timely resolution of matters pertaining to current portfolio and timely closing with equity investors, lenders, etc. on matters pertaining to upcoming projects.

19. Represents DHA in cultivating relationships with equity investors, construction lenders, management companies, and DCA.

20. Coordinates activities with local non-profit housing cooperations and other agencies to enhance community partnerships where appropriate.

21. Manages and directs LIHTC and/or other development projects in conjunction with not-for-profit and/or for-profit developers.

22. Manages partnerships with local non-profits and/or the City of Decatur for housing and development and/or housing rehabilitation programs.

23. Coordinates Department activities with other Departments and staff and with outside agencies and governmental bodies.

24. Attends public meetings and meetings of other agencies and represents DHA as directed.

25. Attends work with regularity and punctually and recognizes that attendance is an essential duty and responsibility of this position.

 

BEHAVIORAL COMPETENCIES:

This position requires the incumbent to exhibit the following behavioral skills:

1. Problem Solving: Identifies and resolves problems in a timely manner; Gathers and analyzes information skillfully; Develops alternative solutions; Works well in group problem solving situations; Uses reason even when dealing with sensitive topics and/or irate customers.
2. Customer Service: Meets/exceeds the expectations and requirements of internal and external customers; Manages difficult or sensitive customer situations; Responds promptly to customer needs; Solicits customer feedback to improve service; Responds to requests for service and assistance.
3. Interpersonal Skills: Focuses on solving conflict, not blaming; Maintains confidentiality; Listens to others without interrupting.
4. Teamwork: Balances team and individual responsibilities; Contributes to building a positive team spirit; Puts success of team above own interests.
5. Professionalism: Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions.

 

REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:

1. Knowledge of federal, state, and local funding programs including LIHTC, HOME, ARPA, and TAD financing.

2. Ability to develop and analyze development and operations budgets and pro forma.

3. Ability to present ideas and information in a clear and concise manner, both orally and in writing.

4. Ability to interpret and implement complex and changing federal policies and regulations.

5. Ability to establish and maintain effective working relationships with local, state, and HUD officials, employees, department heads, residents, the general public, and other agencies and governments.

6. Ability to multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.

7. Ability to use computer software such as MS Word, Excel, Outlook, etc. and should be capable of using internet resources for research and developing and writing advanced reports.

 

PERFORMANCE STANDARDS:

Performance standards are provided to help facilitate the periodic evaluation of the degree to which the employee meets the requirements of the job. The standards below represent examples and are in no way all-inclusive. The Authority reserves the right to add or change performance standards through a modification of the position description, a supplemental performance evaluation tool, or written or verbal communication between the employee and their supervisor or the PHA Executive Director. Achieving the performance standards in no way guarantees a change in compensation and does not supersede or affect the at-will relationship between the employer and employee. Examples of performance standards for this position include, but are not limited to, the following:

1. Ensures the timely and accurate preparation of financing applications.

2. Ensures the timely closing of construction and permanent financing and refinancing of projects.

3. Maintains contracts and related documentation for ongoing compliance and management reporting.

4. Ensures compliance with state, federal, and financing partner requirements, including QAPs, LURCs, LPAs, and loan agreements.

5. Ensures that statutory LIHTC and other financing deadlines are met.

 

EDUCATION AND EXPERIENCE:

1. Graduation from an accredited college or university with course work in real estate, planning, finance, business administration, or related fields. Masters degree preferred.

2. At least five (5) years of progressively responsible experience in real estate development.

3. Must have experience in creation of budgets and proforma for multi-family developments, preferably affordable housing.

4. Must have experience in LIHTC development, including record of successful funding awards.

5. Substantial experience with LIHTC properties and related compliance oversight.

6. Strong project management skills.

7. An equivalent combination of education and experience will be considered, and a determination of qualification made solely in the judgement of DHA.

 

PHYSICAL REQUIREMENTS:

This position is required to work in an office setting that is generally accessible to the mobility and sensory impaired. The incumbent must have the ability to utilize standard office equipment and access files and documents. The incumbent must have the ability to lift up to 20 pounds. Must be able to work while seated for extended periods of time.

 

SPECIAL REQUIREMENTS:

1. Must be bondable under Authority’s selected firms.

2. Possession of a valid State of Georgia Driver’s License.

3. Ability to be covered under the Authority’s liability policy

Company DescriptionThe Decatur Housing Authority was established in 1938 with its primary focus being on building housing for low income households. Over the years, the Housing Authority has expanded its focus to include the revitalization of the Decatur community as a whole through the renewal and redevelopment of substandard housing, as well as improving facilities in the downtown area. Create affordable housing in the City of Decatur, while promoting vibrant and healthy communities.Company DescriptionThe Decatur Housing Authority was established in 1938 with its primary focus being on building housing for low income households. Over the years, the Housing Authority has expanded its focus to include the revitalization of the Decatur community as a whole through the renewal and redevelopment of substandard housing, as well as improving facilities in the downtown area. Create affordable housing in the City of Decatur, while promoting vibrant and healthy communities.

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