Multifamily Lending Coordinator

Job Description

This position is being re-advertised. Candidates who have previously submitted an application and were referred to the hiring manager are still being considered and do not need to reapply.

The Housing and Neighborhoods Department is committed to improving the quality of life for all Raleigh residents through a variety of programs and activities throughout the city. The Department provides funding to create and preserve affordable housing and for services and programs benefitting low-to-moderate-income people. The Department enforces codes to ensure safe and decent housing and carries out neighborhood revitalization and community engagement and enrichment activities. The Multifamily Lending Coordinator’s role is key to the successful implementation of housing and community development programs and services.

About the Opportunity:
The Community and Small Business Development Division of the Housing and Neighborhoods Department administers the City’s housing and community development programs funded with local and federal funds, including gap financing loans for affordable multifamily housing development. The Division seeks a self-directed community development professional with excellent communication skills and a commitment to professional excellence to serve as its Multifamily Lending Coordinator. This position manages the Department’s multifamily gap financing programs, including drafting notices of funding availability and requests for proposals, coordinating inter-disciplinary review committees, leading regular interdisciplinary coordination calls for ongoing projects, and evaluating proposals, including financial underwriting. The Multifamily Lending Coordinator will make recommendations in the form of memoranda and presentations to go before City Council. This position will also move funded developments through the closing and construction processes.

The ideal candidate will have experience with multifamily development, lending, and/or valuation, with specific experience with the Low-Income Housing Tax Credit Program. They will have excellent written and verbal communication skills (including public presentation skills), project management skills, time management skills, including planning, organizing, evaluating and implementation. and facility with data. The ideal candidate should also possess excellent interpersonal skills to establish and maintain effective working relationships with staff, other departments, elected officials, the media, the public, and the development community. To perform this job successfully, an individual should have working knowledge of Microsoft programs, specifically Excel, as well as Windows accessories and PowerPoint.  This position will be supervised by the Housing Programs Manager, but the ideal candidate will be self-directed, able to manage the programs in its portfolio with minimal supervision and capable of making program and policy recommendations.

Duties and Responsibilities

• Plan, manage, and oversee the City’s rental housing development finance programs, primarily the Joint Venture Rental Development Program. This position will also be tasked with standing up a funding program for Community Development Housing Organizations (CHDOs) using HOME and other federal funds.
• Evaluate proposals received for rental development projects requesting City funds and conducting underwriting analysis to make funding recommendations to City Council.
• Evaluate appropriateness of projects for federal or local funding, specifically for the HOME Investment Partnerships Program and the Community Development Block Grant Program (CDBG). This requires possessing or obtaining working knowledge of HOME and CDBG regulation and program guidelines.
• Conduct Environmental Reviews as needed to ensure compliance with federal regulations.
• Recommend funding awards to Department leadership and City Council with clear, concise written memoranda and presentations.
• Manage loan closings for funded developments by collaborating with contracted outside counsel to review documents and working with Department finance staff to set up and process funding disbursements.
• Monitor approved developments through the construction process to ensure compliance with federal regulations such as Davis-Bacon, Section 3, Minority and Women-Owned Business requirements and other cross-cutting regulatory requirements.
• Coordinate with development partners and Department staff to ensure beneficiary data for federally-funded projects is accurately entered into the Integrated Disbursement Information System (IDIS) and that deadlines for the commitment or expenditure of HUD funds are met.
• Collaborate with other staff to monitor post-construction compliance including evaluating requests for modifications to loans and coordinating between property managers and loan servicer to ensure balance accuracy and other servicing matters.
• Manage data for the City’s multifamily development portfolio including lending volume, unit production, and upcoming projects.
• Use data to respond to inquiries from staff leadership and City Council, and to make recommendations for program and policy updates.
• Maintain relationships with development partners and community organizations to stay aware of trends and upcoming projects.

Typical Qualifications

Education and Experience:
Bachelor’s Degree in real estate, urban planning, construction management, business administration or directly related field and five years of community development experience related to assignment.

OR

An equivalent combination of education and experience sufficient to successfully perform the essential duties of the job such as those listed above, unless otherwise subject to any other requirements set forth in law or regulation.

Licensing and Certifications:

• Valid North Carolina Class C Driver’s License with a satisfactory driving record, or the ability to obtain within 60 days of hire

Preferred Qualifications:

• AICP, NDC Housing Development Finance Professional Certification, or other related professional certifications