Vice President, Multifamily Finance

New York State Homes & Community Renewal; New York (NY); On-site; USD 120,000 - 180,000; Full time

Benefits offered by this job

Health Insurance

Retirement Benefits

Paid Time Off

Paid Parental Leave

Job summary

New York State Homes and Community Renewal (HCR) seeks a senior leader to oversee the Multifamily Finance team, focusing on creation/preservation of affordable housing and complex financing structures. You will coordinate 9% LIHTC and subsidy loan sources, guide underwriting policies, and collaborate across state agencies to advance projects.

The role requires a bachelor’s degree in Housing or Urban Planning with nine years’ experience, strong communication, and leadership capabilities, with

Qualifications

• Bachelor’s degree with concentration in Housing or Urban Planning; nine years of experience required.
• Substitutions: four years of specialized experience or associate degree with two years of specialized experience may substitute for bachelor’s degree; J.D. or master’s degree may substitute for one year; Ph.D. may substitute for two years.

Responsibilities

• Oversee day-to-day operations of the Multifamily Finance team.
• Own underwriting and approval of construction and permanent financing for 9% LIHTC and related subsidies.
• Direct development of multifamily financings and annual RFP processes for LIHTC and subsidies.
• Collaborate with internal offices and other state/local agencies to advance projects and deploy resources.
• Travel around New York State; located primarily in Albany.

Skills

Effective relationships

Oral and written communication

Analytical skills

Organizational skills

Education

Bachelor’s degree in Housing or Urban Planning

Job description

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.

This position is with HCR's Housing Trust Fund Corporation (HTFC). This is not a civil service position and does not require a civil service exam. Candidates must meet the minimum qualifications outlined below to be considered.

NYS Homes and Community Renewal (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. HCR is committed to developing a workforce that represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.

The Office of Multifamily Finance & Development actively engages with a range of partners including for-profit, and not for profit borrowers, municipalities, lenders, investors and other funding entities to leverage Low Income Housing Tax Credits, tax exempt bonds, single family lending programs, and a multitude of State funded programs. Our resources have helped finance tens of thousands affordable apartments and affordable homes in communities across the State. Finance & Development has primary responsibility for implementing many of the initiatives under the Governor’s Housing Plan, an unprecedented 5-year$25 billion investment to create or preserve 100,000 units of affordable and supportive housing.

The Multifamily Finance division offers financing to encourage a wide range of affordable housing, including preservation and rehabilitation of existing affordable multifamily rental housing, including public housing; new construction of affordable and mixed-income multifamily rental housing for households of all ages; and integrated supportive housing developments serving formerly homeless households with disabilities or other life challenges. They oversee capital fund programs that are combined with both the 4% and 9% Low-Income Housing Tax Credit (LIHTC) tax credit programs.

DUTIES AND RESPONSIBILITIES:

• The Vice President of Multifamily Finance oversees the day-to-day operations of the Multifamily Finance team working on the creation of new units of affordable housing and reports to the Senior Vice President of Multifamily Finance & Development.
• They are responsible for overseeing the underwriting and approval of construction and permanent financing for the creation/preservation of multifamily housing that utilize 9% LIHTC, State Low-Income Housing Credits (SLIHC), as well as a variety of housing subsidy loan sources deployed by the Agency.
• The incumbent is responsible for directing the development of multifamily housing financings; overseeing the annual RFP for 9% LIHTC, SLIHC and related subsidy loan sources; directing a team of professionals who are processing project applications through mortgage closings; contributing to the creation of innovative financing structures/Agency term sheets; and developing and implementing underwriting policy and procedures.
• The incumbent works in coordination with the Senior Vice President of Multifamily Programs to deploy Agency resources and personnel in the unit to meet the mission, goals and objectives of the Agency with respect to its multifamily housing activities. The incumbent coordinates with internal offices such as Office of Legal Affairs, Fair and Equitable Housing Office, and Design, Construction & Environmental Unit to advance projects through the development process. Further, the incumbent collaborates with other State and local agencies on various coordinated investments and programs, including representing the Agency in various interagency initiatives, as assigned.
• The incumbent exercises independent judgment concerning the deployment of Agency personnel and resources in the unit, with respect to the hiring, promoting, evaluating, training and retaining of staff.
• This position requires some travel around New York State and will be located primarily in Albany.

WHO YOU ARE:

• Bachelor’s degreewith concentration in Housing or Urban Planning and nine years of experience required
• Substitutions: four years of specialized experience or associate degree and two years of specialized experience may substitute for bachelor’s degree; J.D. or master’s degree may substitute for one year of specialized experience; Ph.D. may substitute for two years of specialized experience.
• Ability to establish effective working relationships
• Excellent oral and written communication skills.
• Strong analytical and organizational skills.

This job description is not intended to be all inclusive and the employee will be expected to perform other reasonably related duties as assigned.

APPLICANTS MUST INCLUDE A RESUME

WHAT WE OFFER AT NYS HCR:

• Extensive benefits package including participation in New York State’s Health Insurance Program and New York State & Local Employees’ Retirement System.
• Promotional opportunities for dedicated professionals.
• Work-life balance benefits including a 37.5-hour work week, opportunity for compressed scheduling, and paid time off benefits (vacation, sick, personal days, and federal holidays).
• 12 weeks of Paid Parental Leave.
• Paid Family Leave.
• As a New York State employee, you may qualify to participate in theFederal Public Service Loan Forgiveness Program (PSLF). The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under anaccepted repayment plan and while working full-time for aneligible employer.

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 who are hard-working and committed to serving low- and moderate-income families. Our mission is far-reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.

Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, construction, finance, law, and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical, and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement, and family-friendly policies.

New York State is an Equal Opportunity Employer (EOE)