Housing Development Manager

7 days ago

Somerville, Massachusetts, United States City of Somerville Full time
Job Description

**Job Summary:**

The City of Somerville is seeking a highly skilled and experienced Housing Development Manager to join our team. As a key member of our affordable housing program, you will be responsible for managing affordable housing proposals from developers seeking local and/or federal funding from the City.

Key Responsibilities:

  • Proposal Management: Evaluate prospective property acquisitions and development proposals by reviewing pro formas outlining cash flow, sources, and uses.
  • Underwriting Review: Perform underwriting review with an understanding of City funding source requirements prior to making a recommendation to fund the acquisition and/or development of a property.
  • Collaboration: Collaborate with other City staff to identify City funding sources and provide recommendations on other non-City funding sources where necessary.
  • Analysis and Recommendations: Prepare written analyses and recommendations on housing development proposals.
  • Conditional Commitment Letters: Draft conditional commitment letters.
  • Due Diligence: Track due diligence items in preparation for closings, participate in closing calls, and collaborate with colleagues both within Housing and other OSPCD divisions and City departments as well as developers on closings.
  • Reporting and Data Tracking: Prepare information on development work as needed, including data tracking and other reporting requirements.
  • Environmental Reviews: Assist in completing environmental reviews and tracking compliance with other state and federal regulations, as necessary.
  • Development Progress Tracking: Track development progress during construction, including processing requests for payment, performing site visits, and reviewing lender advisor reports.
  • Research and Analysis: Conduct research and analyses on other sources needed to expand existing development efforts, including Somerville's 100 Homes partnership with Somerville Community Corporation.
  • Developer Attraction: Work to attract developers of affordable housing to conduct work in Somerville.
  • Meetings and Communication: Attend and participate in occasional evening meetings as needed.

Requirements:

  • Education and Experience: Bachelor's Degree or advanced degree in planning, business, finance, or a related field, and minimum three to five (3-5) years working in real estate or a related field, and/or experience in real estate closings, and/or comparable experience.
  • Knowledge, Abilities, and Skills: Knowledge of Community Preservation Act, and Municipal Housing Trusts is highly preferred. Familiarity with U.S. Department of Housing and Urban Development Community Development Block Grant, HOME Investment Partnerships Program. Experience in public administration and/or strategies and programs geared toward maintaining and expanding affordable housing opportunities is beneficial.

Work Environment:

The work environment involves everyday discomforts typical of offices, with occasional exposure to outside elements. Noise or physical surroundings may be distracting, but conditions are generally not unpleasant. Employee may be required to work beyond normal business hours in response to attend evening meetings or complete work assignments.

Physical and Mental Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the position's essential functions.

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