Director of Construction Accounting

Development Finance & Project Support

Collaborate with the Real Estate Development team to review project budgets and manage development project cash flow, including timing of partnership contributions.

Maintain the books for properties under construction and those in predevelopment.

Populate draw worksheets for properties in construction or pre-development.

Review accounts payable transactions for properties under construction.

Recode pre-development transactions as needed.

Track construction-related loans and maintain strong relationships with lenders and banks.

Assist with refinancing opportunities.

Manage property cash and lines of credit.

Manage replacement reserves.

Tax Credit & Compliance Oversight

Review drafts of Limited Partnership Agreements and loan documents, with attention to financial guarantees, risk exposure, and compliance requirements.

Maintain relationships with tax credit partner asset managers and respond to underwriting inquiries.

Assist with Limited Partner exits, including negotiations, capital account forecasting, and tax-related matters for LIHTC and NMTC projects.

Oversee 10% tests, cost certifications, and review all audits and tax returns for LIHTC and nonprofit group filings.

Support the Property Accounting team with LIHTC audits and tax returns.

Provide cost certification support.

Grants, Credits & External Funding

Prepare and submit periodic grant reporting (e.g., Capital Magnet Fund).

Assist with capital grant applications, energy incentives, and other tax credit opportunities.

Coincide with Fundraising to track construction-related grants.

Financial Reporting & Internal Controls

Maintain updated projections for internal reserves (Growth Fund) and coordinate with the Development team throughout project cycles.

Prepare Growth Fund reports for the Board.

Review monthly financials for properties under construction.

Ensure quality control over financial transactions and financial reporting.

Research technical accounting issues as needed.

Develop and document business processes and accounting policies to strengthen internal controls.

Leadership, Operations & Cross-Functional Support

Assist the CFO with management of accounting operations.

Cross-train with other accounting directors to provide backup coverage.

Communicate with vendors as needed.

Perform additional duties as necessary.

Waterfall & Partnership Management

Review and manage property waterfalls.

Maintain positive relationships with partners, lenders, and asset managers throughout project cycles.