Acquisitions Manager

3 weeks ago

Los Angeles, United States A COMMUNITY OF FRIENDS Full time
Job DescriptionJob DescriptionDescription:

We require all employees to provide proof of COVID-19 immunization and booster (unless approval of exemption is granted).


SUMMARY


Under the direction of the Assistant Director of Housing Development, the Acquisitions Manager is responsible for all activities related to the identification, procurement, feasibility analysis, and entitlement approvals for new sites to grow and maintain A Community of Friend’s (ACOF) pipeline of supportive housing developments in accordance with ACOF’s strategic plan goals.


ESSENTIAL DUTIES AND RESPONSIBILITIES

  • Work independently to identify and source potential sites using a variety of methods including, but not limited to, broker solicitation, cold calls to potential sellers including private land owners and municipalities, leveraging new and existing relationships, data mining, and reviewing and responding to government issued requests for proposals (RFPs) and requests for qualifications (RFQs) and similar developer solicitations.
  • Exercise independent judgment and ability to negotiate purchase terms and site control documents with minimal supervision.
  • Evaluate sites and development opportunities based on ACOF’s site selection criteria and organizational goals.
  • Prepare financial feasibility analyses and complete site due diligence (e.g., survey, geotechnical and environmental studies, review title reports) for potential sites and new pipeline sites.
  • Present acquisition candidate sites to the Assistant Director of Housing to determine if further due diligence is appropriate and whether ACOF should continue to pursue the site.
  • Coordinate with architect for test fit/site yield studies and prepare plans, as needed, to determine project feasibility.
  • Coordinate with ACOF’s internal teams including Asset Management, Property Management, and Services to determine the target population for the units, project scope, building and site programming, and optimal site plan.
  • Assemble and manage the design team and entitlement consultant to prepare entitlements applications; manage the entitlement process to obtain all necessary project approvals.
  • Secure and close acquisition financing and manage all aspects of the acquisition closing process including legal document and title related issues. Obtain proposals from and prepare contracts with consultants as needed to complete due diligence related reports, engage architects and entitlement consultants, as needed.
  • Prepare check requests, as needed, to ensure consultants and fees are paid in a timely manner.
  • Prepare funding applications, as needed, with the support of a Project Associate, if funding applications are due before project entitlements are approved.
  • Manage all aspects of the project from site identification until the project is entitled. Work with the Housing Team to collaboratively transition the entitled project to the assigned Project Manager.
  • Prepare and implement community outreach plans to gauge and secure stakeholder support for developing supportive housing on potential acquisition sites.
  • Serve as the primary contact person and relationship manager for all aspects of the projects between ACOF and all external entities until projects are transferred to a Project Manager, including project lenders, investors, partners, government agencies/departments, and community groups.
  • Prepare, update, and adhere to project development schedules to achieve ACOF’s goals.
  • Complete administrative tasks as needed to perform essential duties and responsibilities.
  • Meet with the Assistant Director of Housing and the Director of Housing regularly to provide project updates and discuss issues associated with development projects.
Requirements:

POSITION REQUIREMENTS

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this job. Individual abilities may result in some deviation of these guidelines.


To perform effectively in this position, the Acquisitions Manager must have:

  • Basic Qualifications:
  • Two (2) years of experience preparing financial proformas for tax credit financed, low-income multifamily housing developments.
  • Experience leading acquisition efforts including site identification, feasibility analyses, due diligence and acquisition closings for at least four (4) affordable housing development sites.
  • Experience leading entitlement efforts and secured approval for at least three (3) tax credit financed affordable housing developments.
  • Working knowledge of financing sources available for affordable housing in California.
  • Experience preparing financing applications for at least one (1) State of California Housing and Community Development Department funding source and one (1) City or County capital funding source for an affordable housing development as the lead Project or Acquisitions Manager.
  • Understanding of California density bonus and entitlement streamlining regulations and ordinances.
  • Ability to comprehend zoning codes and ordinances and determine what can be developed on potential sites.
  • Ability to read architectural plans.
  • Demonstrated positive working relationships with government officials and planning department staff.
  • Excellent written and verbal communication skills.
  • Proficiency in Microsoft Office Software (Word, Excel, PowerPoint) and Adobe Acrobat.
  • Prior experience closing construction and permanent financing.
  • Analytical thinker with problem-solving mindset.
  • Attention to detail.
  • Prior experience and demonstrated ability in project management with ability to manage multiple deadlines.
  • Results and deadline driven.
  • Perform well under stress and interact well with others.
  • Possess a valid California driver’s license.
  • Ability to meet California minimum and ACOF insurance requirements.
  • Access to a personal vehicle to be used to conduct ACOF business.
  • Ability to lift 20 pounds.


Preferred Qualifications:

  • Minimum two (2) years of experience preparing TCAC, CDLAC, various HCD funding, and/or local funding applications.
  • Understanding of density bonus and entitlement streamlining regulations and ordinances in the City of LA, County of LA, and other Southern California cities, particularly regulations for supportive housing developments.
  • Three (3) years of experience as an Acquisitions or Project Manager in an affordable housing development.
  • Experience developing affordable housing for homeless households.
  • Graduate Degree in related field (e.g., urban planning or real estate development).
  • Real Estate Broker’s license.
  • Proficiency in Microsoft Project, Adobe Creative Suite.
  • Completion of LISC HDTI Basic Training.

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