Senior Development Manager

Housing-Authority-of-Cook-Count; Chicago (IL); On-site; USD 85,000 - 125,000; Full time

Benefits offered by this job

Health FSA

EAP

PTO + Holidays

401k Employer match

Job summary

Housing Authority of Cook County seeks a professional to support its real estate development team in structuring and overseeing development projects in accordance with HUD, IHDA and related regulations. This role will develop financial projections, review proposals, and coordinate with lenders and agencies to advance timely closings.

The ideal candidate holds a Bachelor’s degree in a relevant field and possesses strong analytical, organizational, and communication skills to ensure successful

Qualifications

• Bachelor’s degree in real estate, finance, economics, or public or business administration.
• Familiarity with housing programs and development processes is expected.
• Ability to organize financing applications and perform accurate calculations.

Responsibilities

• Support the real estate development team in structuring and oversight of development projects.
• Develop property proformas and review financing proposals for feasibility.
• Ensure compliance with HUD, IHDA, and other regulations and reporting requirements.
• Attend meetings and coordinate with financial institutions, investors, and agencies.
• Perform due diligence and assist with timely closings of transactions.

Skills

Analytical skills

Problem-solving

Organizational skills

Communication

Attention to detail

Education

Bachelor's degree in real estate/finance/economics/public or business administration

Tools

Word

Excel

PowerPoint

Adobe Acrobat

Yardi

Job description

Under 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 for the Authority in accordance with HUD, IHDA and other applicable regulations.

ESSENTIAL FUNCTIONS

• 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).
• Develop property proformas for proposed projects to ensure financial feasibility.
• Review 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.
• Work with representatives from financial institutions, investors and government agencies to ensure timely closings of real estate transactions.
• Work with the Authority’s legal, architectural, financial and accounting firms throughout real estate transactions.
• Ensure compliance with investor, HUD, IHDA, and other government agency reporting requirements and regulations.
• Attend Owner Architect and Contractor (OAC) weekly meetings for properties under construction to ensure project remains on time and on budget.
• Identify new real estate development opportunities and financing options.
• Represent the Authority when meeting with outside agencies for funding opportunities.
• Serve on procurement evaluation committees.
• Performs all duties in accordance with Authority policies.

OTHER DUTIES AND RESPONSIBILITIES

• Complies with applicable job-related local, state, and federal regulations.
• Responsible for safety while performing all facets of 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.

EDUCATION, EXPERIENCE AND/OR CERTIFICATION

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

REQUIRED KNOWLEDGE SKILLS AND ABILITIES

• Familiarity of applicable national, state and local rules, regulations, statutes, policies and procedures regarding Low-Income Housing, or other housing type as determined by the department at the time of job posting.
• 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.
• Familiar with IHDA’s Qualified Application Plan (QAP) and scoring requirements.
• Familiar 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.

EQUIPMENT AND SYSTEMS OPERATED

• Personal computer and peripherals
• Standard office equipment

ADDITIONAL 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

• Healthcare flexible spending account
• Employee Assistance Program (EAP)
• Paid time off including 14 Holidays
• 401(k) – Employer contribution of 6%

This job description is subject to change and in no manner states or implies that these are the only duties and responsibilities to be performed. The qualifications listed above are guidelines, other combinations of education and experience that could provide the necessary knowledge, skills, and abilities to perform the job will be considered.