Housing Finance Specialist
2 weeks ago
REPORTS TO: Managing Director, Financial Consulting
STATUS: Full-Time (40 hours/week), Non-exempt
STARTING SALARY: $55.28 - $61.29 per hour
LOCATION: California, U.S. (Remote or Hybrid)
ABOUTThe California Housing Partnership (the "Partnership") is seeking to hire a Housing Finance Specialist to join our Housing Finance Consulting team. Unlike typical financial advisors, the Partnership’s Housing Finance staff do not see themselves as third-party consultants whose sole task is to run financial projections and advise on important financial decisions. Because we take to heart the part of our mission that focuses on building the long-term capacity of our clients, who we see as long-term partners, Housing Finance staff must be able and willing, after appropriate training, to provide intensive coaching and mentoring to less experienced project managers from our partner organizations as well as to engage more experienced project managers and Directors of Housing Development in detailed conversations about the pros and cons of various approaches to financing their developments and tips on avoiding pitfalls in the development process. Housing Finance staff also provide inside information on the latest trends in pricing and likely changes to program regulations and funding sources before they change.
Housing Finance Specialists assist the Partnership's Housing Finance team to advise clients on financial strategies to structure and maximize equity and bond or loan proceeds raised; guide clients on the selection of equity investors and lenders and negotiation of deal terms; prepare financial projections; and obtain funding from an array of competitive programs including:
- Low Income Housing Tax Credits (LIHTC)
- Tax-Exempt Bond Financing
- State of California Housing and Community Development (HCD) programs
- Local government HOME, CDBG, bond programs and other housing funds
- Project-based Section 8 Vouchers and contract extensions
- HUD and Rural Development Programs
Housing Finance Specialists will be trained and supervised by a Managing Director. After an appropriate initial training period, Housing Finance Specialists will provide assistance to the Housing Financial Consulting team in such tasks including, but not limited to:
- Running in-house financial proformas, including initial feasibility analyses; updates for further analyses such as funding applications, closings, conversions, investor updates, and placed in service submittals;
- Reviewing investor and lender letters of intent and commitment letters; assisting with bid comparison analyses;
- Reviewing lender and investor loan, partnership and bond documents
- Preparing and/or reviewing financial sections of funding applications, including TCAC, CDLAC, HCD, AHP, local government and others;
- Preparing and/or reviewing additional submittals to federal, state and/or local housing agencies, such as TCAC Subsidy Layering Review, Readiness, Carryover, and Placed in Service submittals; and updates to other agencies as required;
- Assisting with bond, loan and syndication closings and loan conversions;
- Reviewing federal, state and local housing program regulations and/or guidelines;
- Assisting with data analysis to support consulting practice or policy recommendations.
- Time and skills permitting, providing direct assistance to clients, under supervision of Housing Finance Consultants;
- Time and skills permitting, assisting in design and delivery of housing financing training sessions and presentations;
- Assisting with formulating state and/or regional policy and strategic political positions based on prior work experience.
- Assisting with data analysis to support policy recommendations.
Housing Finance Specialists, like other California Housing Partnership employees, must periodically assist with basic office administrative functions consistent with a small nonprofit organization.
QUALIFICATIONS & REQUIREMENTS
Our ideal candidate is a self-starter, detail-oriented, possesses strong organizational skills and the ability to multitask overlapping deadlines and assignments, has the capacity for independent research and analysis and has strong interpersonal and communication (verbal and written) skills. Candidates with project management experience with a LIHTC housing developer are strongly encouraged to apply.
We recognize that each applicant for this role will bring unique skills, knowledge, experiences, and background to this position. We welcome diverse experiences and perspectives in our applicant pool, and at a minimum are seeking candidates who possess the following:
- At least five (5) years of experience in a field closely related to multifamily affordable housing that can inform the Partnership’s policy and strategic political positions at a state and/or regional level;
- Basic knowledge of current multifamily financing techniques and resources, including the Low Income Housing Tax Credit (LIHTC) program;
- Basic experience in running multifamily rental real estate pro formas;
- Experience with applying for and structuring Low-Income Housing Tax Credit (LIHTC) and/or tax-exempt bonds, preferred;
- Proficiency with Microsoft Excel including basic equations and spreadsheet structure;
- Competency in Microsoft Word and PowerPoint;
- Proficiency with Apple computers and various cloud-based tools such as Salesforce, DropBox, Google Drive, and Microsoft OneDrive or willingness and ability to learn such tools.
- Basic knowledge of and ability to communicate about affordable rental housing policy issues;
- Alignment with the Partnership’s mission and commitment to diversity, equity, and inclusion.
- Able and willing to travel within California
ABOUT THE CALIFORNIA HOUSING PARTNERSHIP
The Partnership is a dynamic nonprofit “think and do tank” providing critical technical assistance, training, applied research and policy leadership to increase the production and preservation of affordable and sustainable homes serving Californians who are low-income.
To achieve this mission, the Partnership’s three technical assistance teams (finance, clean energy, applied research) work closely with a network of more than 60 mission-driven nonprofit and government housing agencies throughout California, as well as the nonprofit associations who represent them.
A deep commitment to racial equity and inclusion grounds the Partnership’s work and policies – click to learn more about our core equity values. An Equity Policy Advisory Board ensures that the perspectives and experiences of low-income renters also grounds our work – click to learn more about this board .
COMPENSATION
The Partnership provides annual performance-based raises and maintains competitive salary ranges. Compensation for all permanent employees working 20 or more hours per week includes a robust benefits package of 100% employer-paid health, dental, vision, chiropractic/acupuncture, transit subsidy, cellphone reimbursement, health reimbursement account, employee assistance plan, and employer contributions to 403(b) retirement plan.
EQUAL OPPORTUNITY EMPLOYER
The California Housing Partnership is an equal opportunity employer and is committed to creating a diverse, equitable, and inclusive workplace. We strongly encourage people of diverse backgrounds and identities to apply. For more information about the Partnership, visit our website at .
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