Associate Counsel

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State. HCR is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees.

About the role

The Associate Counsel will primarily be responsible for performing legal services related to asset management and regulatory oversight of projects under HCR’s Statewide Asset Management Unit (SAMU). On a secondary basis, the Associate Counsel will also be involved in negotiating and closing certain HCR mortgage loans, administrative and program matters, and other legal issues. The Associate Counsel will supervise Assistant Counsels and legal support staff and report to the HFA Deputy Counsel overseeing transactional and asset management lawyers in our New York City office.

Responsibilities

• Reviewing and negotiating legal documents of SAMU projects undergoing ownership transfers (for example, Year 15 dispositions) and refinancing with non-HCR debt.
• Responding to legal questions and issues in connection with HCR’s affordable housing requirements, including amendments and modifications of HCR regulatory agreements of SAMU projects.
• Loan workouts and mortgage/regulatory enforcement of SAMU projects.
• Negotiating and closing certain HCR mortgage loans of affordable housing projects.
• Handling HCR administrative and program matters in connection with the above, and other legal issues that may arise.
• Supervising Assistant Counsels and legal support staff engaged in similar duties.

A substantial majority of the duties and responsibilities of the position relate specifically to the New York State Housing Finance Agency. This position is with HCR’s Affordable Housing Corporation (AHC) payroll and is not a civil service position.

Requirements

• Admitted to the practice of law in New York State.
• Minimum of five years of experience in providing legal counsel with respect to affordable housing programs, real estate lending or asset management, public finance, and other corporate transactions such as loan workouts and bankruptcy matters.
• Knowledge of affordable housing programs and real estate lending is strongly preferred.
• Experience supervising attorneys or support staff.
• Excellent oral and written communication skills, including attention to detail, a commitment to analytical thinking, and respect for the contributions of colleagues and others.
• Proficiency in Microsoft Office and other standard applications.
• Ability to work independently, manage multiple matters at the same time, and achieve deadlines.

Benefits

• Extensive benefits package including paid leave, excellent health, dental, vision, and retirement benefits with the New York State & Local Employees’ Retirement System.
• Promotional opportunities for dedicated professionals.
• Work-life balance benefits including a 37.5-hour work week and paid time off (vacation, sick, personal days, and Federal Holidays).
• Opportunity for compressed scheduling or flextime.
• 12 weeks of Paid Parental Leave and Paid Family Leave.
• Eligibility to participate in the Federal Public Service Loan Forgiveness Program (PSLF).
• Cash in for Wellness program: use sick leave accruals for health club memberships, weight loss, or smoking cessation programs.
• Tuition reimbursement program for job-related and non-job-related courses.
• Vacation Leave Buy-Back program: exchange accrued vacation time for cash compensation (subject to approval).
• Access to Plum Benefits: savings on movie tickets, theme parks, hotels, tours, Broadway shows, and more.
• Optical reimbursement program: up to $650 per year for optical, hearing aid, and podiatric expenses not covered by insurance (carryover allowed up to $1,300).

About New York State Homes and Community Renewal

Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo, and Syracuse, and employ a diverse workforce of professionals committed to serving low- and moderate-income families. Our mission encompasses single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with public and private stakeholders and seek to provide a productive, flexible, accountable, ethical, and caring workplace environment.