Asset Manager - Affordable Housing

Decatur Housing; Decatur (GA); In loco; USD 90.000 - 130.000; Tempo pieno

Descrizione del lavoro

Decatur Housing seeks an Asset Manager to maximize financial, physical, and operational performance of its affordable housing portfolio including LIHTC, PBRA, PBV, and HUD-assisted properties.

You will oversee budgets, capital plans, compliance, and development support, collaborate with investors, lenders, and consultants, and ensure timely reporting to regulators and partners. A bachelor’s degree and at least 5 years in affordable housing asset management are required.

Competenze

• Bachelor’s degree in Finance, Accounting, Real Estate, Urban Planning, Public Administration, Business Administration, or related field.
• Minimum of 5 years of experience in affordable housing, asset management, real estate finance, property operations, development, or related field.
• Experience with LIHTC properties required.
• Experience with affordable housing, development, HUD programs (PBV/PBRA) preferred.
• Experience analyzing property financial statements, budgets, and cash flow models.
• Understanding of development financial structures, including tax credit equity, conventional debt, bonds, and public funding sources.
• Ability to manage multiple projects and competing deadlines.

Mansioni

• Monitor the portfolio’s financial performance, including budgets, operating statements, cash flow, reserve balances, and financial ratios.
• Analyze monthly and quarterly property financial reports and recommend strategies to improve revenue, occupancy, and operating efficiency.
• Review and evaluate property operating budgets and capital plans.
• Monitor operating and replacement reserve accounts and recommend funding strategies.
• Assess property performance against underwriting projections and investor expectations.
• Develop and track key performance indicators for occupancy, collections, operating expenses, debt coverage, and physical condition.
• Ensure compliance with LIHTC regulations and extended-use agreements.
• Monitor tenant income certifications, rent restrictions, utility allowances, and required annual recertifications.
• Coordinate compliance reporting with consultants, syndicators, and investors.
• Evaluate management practices to reduce the risk of IRS Form 8823 findings.
• Support Property Management during state housing finance agency audits and reviews.
• Stay current on LIHTC regulations and industry best practices.
• Monitor compliance with applicable HUD regulations and related requirements, including PBV, HCV, PBRA, Fair Housing, and Uniform Guidance.
• Coordinate responses to HUD reviews, audits, REAC inspections, and management assessments.
• Ensure accurate and timely submission of required regulatory reports and certifications.
• Support Financial Data Schedule (FDS), subsidy, and grant compliance activities.
• Oversee longterm capital planning.
• Review and update Capital Needs Assessments (CNAs) and Physical Needs Assessments (PNAs).
• Identify and prioritize capital improvements and modernization projects.
• Monitor major rehabilitation projects and reservefunded expenditures.
• Develop strategies to preserve affordability and extend asset life.
• Support Year 15 compliance and repositioning initiatives.
• Identify improvements to inspection procedures and strengthen quality control.

Conoscenze

LIHTC

Asset management

Regulatory compliance

Financial analysis

Development coordination

Formazione

Bachelor’s degree in Finance/real estate/urban planning

Descrizione del lavoro

Position Overview

The Asset Manager is responsible for maximizing the financial, physical, and operational performance of the Housing Authority's affordable housing portfolio, including Low-Income Housing Tax Credit (LIHTC) properties, HUD-assisted developments, Project-Based Rental Assistance (PBRA), Project-Based Voucher (PBV) properties, and mixed-finance communities. The Asset Manager ensures regulatory compliance, preservation of asset value, achievement of financial objectives, and successful execution of development and redevelopment initiatives.

Essential Duties and Responsibilities

Portfolio Performance and Financial Oversight

• Monitor the existing portfolio’s financial performance, including budgets, operating statements, cash flow, reserve balances, and financial ratios.
• Analyze monthly and quarterly property financial reports and recommend strategies to improve revenue, occupancy, and operating efficiency.
• Review and evaluate property operating budgets and capital plans.
• Monitor operating and replacement reserve accounts and recommend funding strategies.
• Assess property performance against underwriting projections and investor expectations.
• Develop and track key performance indicators for occupancy, collections, operating expenses, debt coverage, and physical condition.

Compliance and Risk Management

• Ensure compliance with LowIncome Housing Tax Credit regulations and extendeduse agreements.
• Monitor tenant income certifications, rent restrictions, utility allowances, and required annual recertifications.
• Coordinate compliance reporting with consultants, syndicators, and investors.
• Evaluate management practices to reduce the risk of IRS Form 8823 findings.
• Support Property Management during state housing finance agency audits and reviews.
• Stay current on LIHTC regulations and industry best practices.
• Monitor compliance with applicable HUD regulations and related requirements, including PBV, HCV, PBRA, Fair Housing, and Uniform Guidance.
• Coordinate responses to HUD reviews, audits, REAC inspections, and management assessments.
• Ensure accurate and timely submission of required regulatory reports and certifications.
• Support Financial Data Schedule (FDS), subsidy, and grant compliance activities.

Capital Planning and Asset Preservation

• Oversee longterm capital planning.
• Review and update Capital Needs Assessments (CNAs) and Physical Needs Assessments (PNAs).
• Identify and prioritize capital improvements and modernization projects.
• Monitor major rehabilitation projects and reservefunded expenditures.
• Develop strategies to preserve affordability and extend asset life.
• Support Year 15 compliance and repositioning initiatives.
• Identify improvements to inspection procedures and strengthen quality control.

Development and Transaction Support

• Contribute to acquisition, development, redevelopment, rehabilitation, and preservation projects.
• Support project feasibility analysis, market assessments, and financial modeling.
• Evaluate development budgets, sources and uses statements, and pro formas.
• Coordinate with architects, contractors, consultants, lenders, investors, and legal counsel throughout development.
• Support LIHTC applications, financing closings, and conversion milestones.
• Track construction progress and development budgets.

Reporting and Stakeholder Collaboration

• Maintain effective relationships with HUD, tax credit investors, syndicators, lenders, municipal agencies, and development partners.
• Prepare property performance reports for executive leadership, board members, and lenders.
• Participate in investor and lender meetings and property site visits.

Qualifications

• Bachelor’s degree required in Finance, Accounting, Real Estate, Urban Planning, Public Administration, Business Administration, or related field
• Minimum of 5 years of experience in affordable housing, asset management, real estate finance, property operations, development, or related field
• Experience with LIHTC properties required
• Experience with affordable housing, development, HUD programs (PBV/PBRA) preferred
• Experience analyzing property financial statements, budgets, and cash flow models
• Understanding of development financial structures, including tax credit equity, conventional debt, bonds, and public funding sources
• Ability to manage multiple projects and competing deadlines

Physical Demands

This position requires frequent standing, walking, bending, and climbing, including accessing all areas of residential structures such as attics, basements, and crawl spaces. The role involves working in various environmental conditions, including extreme temperatures, uneven terrain, and confined spaces. The employee must be able to lift and carry up to 50 pounds as needed.

Special Requirements

• Valid State of Georgia Driver’s License
• Must be insurable under the organization’s fleet insurance policy