New Market Tax Credit Project Coordinator

3 weeks ago

Rochester, United States Doug Rasmussen Consulting LLC Full time
Job DescriptionJob Description

NMTC Project Coordinator (QALICB Support Specialist) for impactful community, business, and real estate projects within a dynamic firm

About the Company

At Steadfast City Economic & Community Partners (www.steadfastcity.com), we are an economic development, community development, and non-profit consulting firm. We help businesses and real estate developers secure economic incentives when they expand or develop real estate. We also help communities, businesses, and community development organizations solve problems such as redeveloping/developing real estate, determining market feasibility for proposed projects, and performing planning and development related services. We work with organizations to secure New Markets Tax Credits (NMTC) to help finance facilities and impactful projects in low-income neighborhoods. Along with NMTC support, we assist non-profits with overall positioning and fund-development/operational strategy.

We got started because we saw the opportunity to weave together government, business, economic development, real estate, social, and philanthropic sectors in a more aligned and impactful manner. We exist because we have a strong desire to elevate businesses who create jobs, real estate developers who create and rebuild neighborhoods, cities who need development, organizations working to effectuate positive economic and social change, and people who benefit from all of this occurring. Through our talents we hope to bring about positive economic and social change and better outcomes for all of our business, real estate, community, and non-profit clients. We exist for a higher purpose, to have an impact in everything we do.

About the Role

Steadfast City is seeking a team member to provide support to clients seeking New Markets Tax Credits (NMTC) allocations to finance community, business, and real estate projects. We are seeking an individual with general knowledge of New Markets Tax Credits in an economic and community development context who can work with project sponsors throughout the life of a NMTC project from determining NMTC viability, “pitch deck” creation, crafting project narratives, quantifying low-income community (LIC) impacts, marketing the project to potential Community Development Entities (CDEs), socializing the deal to potential NMTC investors, conducting CDE/investor meetings to discuss NMTC projects, representing the project at NMTC conferences, completing intake forms, securing allocation term sheets, and assisting the clients through the NMTC closing process.

We are looking for an excellent communicator with great time management skills and experience in helping our team balance multiple projects at once. The ideal candidate excels in writing, research, document control, and one-on-one communication with clients and team members. Experience with financial analysis, community development, tax credit compliance, capital stacks and knowledge of real estate development and economic development is a plus.


The NMTC Project Coordinator will work under the direction of the Vice President of Structured Finance on NMTC QALICB projects from inception to allocation to closing and compliance. The NMTC Project Coordinator will also work closely with the internal compliance team at Steadfast to transition projects effectively and efficiently from closing to compliance. The ideal candidate will be comfortable communicating and collaborating with colleagues across the organization, clients, and project stakeholders. This position can be primarily remote, but will require some travel, and reports to professionals in St. Louis, MO, Rochester NY, and Cleveland OH.


Responsibilities Include:

  • Work with NMTC team to develop and implement a comprehensive strategy to secure NMTC allocations for project sponsors/clients.
  • Correspond with clients for fact-finding, due diligence coordination, data collection, and needed project documentation for the NMTC “pitch deck”, intake forms, and overall closing needs.
  • Provide guidance and technical assistance to clients in responding to NMTC intake forms.
  • Maintain a database to track NMTC awards and status of existing and deployed tax credit allocations.
  • Conduct outreach and communicate routinely with potential CDEs as appropriate to market and socialize the current Steadfast City NMTC book of projects and potential new projects.
  • Build relationships with CDEs, investors, and other stakeholders involved in NMTC allocation process.
  • Track and report on progress toward securing NMTC allocations for QALICBs.
  • Once allocations & investors are secured, assist in the closing process by providing support to the other NMTC team members, the external legal and accounting teams, and assisting in tracking data documentation and due diligence.
  • Work with the internal compliance team for NMTC compliance requirements, coordinating with client as needed.
  • Research and stay up to date on relevant laws, regulations, and policies related to NMTC allocation process.


Qualifications:

  • Bachelor's degree required
  • Strong analytical skills and experience working with spreadsheets and numbers
  • At least 1-2 years of experience working in community development, real estate development, finance, or a related field
  • General knowledge of NMTC program and regulations preferred but not needed
  • Strong communication and interpersonal skills, with the ability to work collaboratively with clients, investors, and other stakeholders
  • Excellent analytical and problem-solving skills
  • Ability to work independently and as part of a project team
  • Strong project management skills and ability to manage multiple projects simultaneously with varying deadlines
  • Willingness to travel as needed as the role will require occasional visits to the Steadfast offices to build relationships with the team, to meet with clients on location, and attendance of NMTC conferences


Benefits:

  • Competitive Salary
  • Salary based on experience.
  • Medical, Dental and Vision Insurance
  • Flexible Vacation
  • Paid Sick & Safe Leave
  • Flexible working hours
  • Retirement Plan Contribution
  • Disability Insurance
  • Life Insurance 50k+


Locations: We are open to talent from any remote location, but show preference to our physical office locations listed below:


  • St. Louis, MO
  • Rochester, NY
  • Fairhope, AL

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