Director of LIHTC/Affordable Housing Development

Mutual Housing Association
Oct 10, 2016
Nov 07, 2016
Employer Type
Direct Employer
Employment Type
Full Time
Job Description:

Summary Description The Senior Development Director, working with Chief Executive Officer and the Chief Financial Officer, is responsible for all aspects of housing development, with a primary responsibility of evaluation and pursuit of new development opportunities. Specific Duties and Responsibilities Identify and evaluate sites for new housing development, develop a pipeline of projects to ensure continued developer fees.Present development options to the Board of Directors and appropriate Board CommitteesNegotiate with the sellersPrepare and coordinate presentations for local community groups, planning and zoning commissions, and other local, state and federal agencies as necessarySupervise consultants in identifying sources of project financing and preparing all financing applicationsDevelop project budgets and financial projectionsPrepare budget updates and development reports for the MHA Board of Directors and appropriate Board Committees on a regular basis Project ManagementEstablish and track the financial sources and uses of funds for each development projectConfirm operating assumptions/expenses on existing properties for use in developing pro forma for future projectsWith the Finance Department develop the mechanism and track sources and uses of funds on development projects; track payables against budget and sources of fundsProduce timely and accurate development reports for board, funders and regulatorsBuild and maintain strong working relationships with funders e.g. CHFA underwriting and asset managers, Department of Housing, tax credit syndicatorsDevelop and implement an efficient project management processRepresent MHA at project meetings with funders and funding agenciesOversee selection of architects and other consultantsOversee work of architects and other consultantsSupervise consultants where appropriate to ensure compliance with all applicable fire safety, health, environmental, building or other code and licensing requirementsObtain all necessary permits and approvals and supervise consultants in this effort where appropriate Transition from Development to OperationsEstablish and implement a mechanism to smoothly transition a project from development to operationsEnforce the management planMonitor actual expenses against the pro forma and address disparities e.g. amend assumptions, modify the planWith the Property Management Department develop property specific management plans and document operating assumptions for each property's operating budget General DutiesComplete internal and external reports as requested by Chief Executive OfficerMaintain records in accordance with HUD, LIHTC, DECD and CHFA reporting requirementsProvide support for other program areas such as rehab activities, sales, property management when requiredOther duties as assigned Minimal Educational Qualifications and Skills Masters Degree or equivalent work experience in real estate development, finance or related field with 5+ years work experience in affordable housing/real estate developmentKnowledge of local, state and federal housing programs. Experience in preparing written proposals for financing affordable housing.Knowledge and experience with community planning initiatives and non-profit organizations a plusStrong financial analysis skillsLIHTC CertifiedStrong communication, negotiation, and relationships building skillsStrong financial management skills and computer skills including Microsoft EXCEL, Timberline and database management software.Valid Driver's Licenses

Company Description:

Mutual Housing Association of Southwestern Connecticut, Inc. is a nonprofit corporation committed to providing safe, quality affordable housing for the low to moderate income residents of Fairfield County. The corporate office is in Stamford and rental properties are located in Bridgeport, Fairfield, Norwalk, Trumbull, Stamford and Wilton. The company is an Equal Employment Opportunity Employer.