Senior Development Manager

About the role

Under the direction of the Executive Director, supports the real estate development team for the Authority and is responsible for the structuring and oversight of development projects in accordance with HUD, IHDA, and other applicable regulations.

Responsibilities

• Helps with submitting financing applications for the rehabilitation of the Authority’s existing Low-Income Public Housing properties, including those for 4% and 9% Low-Income Housing Tax Credits, Illinois Affordable Housing Tax Credits, Community Development Block Grants, HOME Investment Partnership Program, and HUD’s Rental Assistance Demonstration Program (RAD).
• Develops property proformas for proposed projects to ensure financial feasibility.
• Reviews all proposals from investors and lenders to ensure project financing is structured in the best interest of the Authority.
• Responsible for all required due diligence associated with real estate transactions.
• Works with representatives from financial institutions, investors, and government agencies to ensure timely closings of real estate transactions.
• Collaborates with the Authority’s legal, architectural, financial, and accounting firms throughout real estate transactions.
• Ensures compliance with investor, HUD, IHDA, and other government agency reporting requirements and regulations.
• Attends Owner Architect and Contractor (OAC) weekly meetings for properties under construction to ensure the project remains on time and on budget.
• Identifies new real estate development opportunities and financing options.
• Represents the Authority when meeting with outside agencies for funding opportunities.
• Serves on procurement evaluation committees.
• Performs all duties in accordance with Authority policies.
• Complies with applicable job-related local, state, and federal regulations.
• Responsible for safety while performing all facets of the job and observes all Housing Authority safety procedures, as well as all local, state, and federal safety laws and regulations.
• Promotes positive customer relations.
• Performs other duties as assigned.

Requirements

• Bachelor’s degree (BA) or equivalent in real estate, finance, economics, public or business administration, or a related field from a four-year accredited college or university.

Skills

• Familiarity with applicable national, state, and local rules, regulations, statutes, policies, and procedures regarding Low-Income Housing or other housing types.
• Knowledge of operating policies and procedures of the HACC Low-Income Public Housing program, IRS Low-Income Housing Tax Credit program, and HUD’s Rental Assistance Demonstration program.
• Knowledge of all facets of affordable housing development procedures and requirements.
• Familiarity with IHDA’s Qualified Application Plan (QAP) and scoring requirements.
• Familiarity with appraisals, Property Needs Assessments, market studies, and Phase I Environmental reports.
• Organizational and problem-solving skills.
• Demonstrated computer literacy, including knowledge of Word, Excel, Adobe Acrobat, Yardi, PowerPoint, and related applications.
• Ability to organize and structure financing applications.
• Ability to meet deadlines.
• Ability to perform accurate mathematical functions.
• Ability to write and proofread materials for accuracy.
• Ability to multi-task and prioritize responsibilities.
• Ability to communicate and interact appropriately with the general public, applicants, residents, and staff.
• Ability to follow verbal and written instructions.
• Ability to work effectively with others and work independently.
• Analytical skills and problem-solving ability.
• Customer relations skills.
• Demonstrated attention to detail.
• Demonstrated punctuality and reliability.
• Ability to produce clear, accurate, and timely reports.

Working Conditions

• Requires availability to work beyond normal workday.
• Work environment consists substantially of indoor office activities performed in a heated/air-conditioned setting.
• Occasional travel to various work locations in all weather conditions. Must have own transportation.
• Position requires the need to walk, sit, and/or stand for extended periods of time.
• Requires stooping, bending, crouching, and/or reaching for files or tools.
• Frequent repetitive hand movement (e.g., typing).
• May lift, carry, and/or push up to 20 pounds.
• Appointees will be required to possess a valid driver's license and be insurable according to agency guidelines only if the operation of a vehicle, rather than employee mobility, is necessary to perform essential duties of the position.

Benefits

• Health insurance
• Free dental insurance
• Free vision insurance
• Life insurance
• Healthcare flexible spending account
• Dependent Care flexible spending account
• Commuter flexible spending account
• Employee Assistance Program (EAP)
• Paid time off including 14 holidays
• Hybrid schedule
• Flexible work hours
• 401(k) – Employer contribution of 6%

Pay

$90,000 - $95,000 per year