General Functions

Under general direction of the Supervisor, Development Finance, the Development Finance Officer works on affordable housing developments from vision to realization by focusing on pre-development and planning efforts including land acquisition, due diligence, design review, grant and financing applications and compliance, and affordable rental housing development analysis for project feasibility and sustainable operation.

Major Activities (Typical Duties/Responsibilities)

· Participate in project planning to determine development time frames, project procedures and staffing requirements, and explore funding opportunities.

· Coordinate pre-development activities including acquisition, environmental review, project concept development, cost analysis, and internal market studies.

· Develop, evaluate, and refine comprehensive project proformas for various residential developments using a mix of funding sources.

· Assist in securing financing under the following programs, which include, but are not limited to, Low Income Housing Tax Credits (LIHTC), HOME Investment Partnerships Act (HOME), Federal Home Loan Bank (FHLB), State of Alaska, Municipal, private foundation sources, and project debt.

· Assure maintenance of internal controls and compliance with regulatory and reporting requirements associated with project funding; and provide technical assistance as needed.

· Prepare funding approval requests and regularly monitor project budgets.

· Provide monthly, quarterly, and annual financial reporting and tracking alongside the company’s project accountant.

· Coordinate with external auditor for project audit needs for timely delivery of various certifications such as Final Cost Certifications, Carryover, 50% Test, Tenant Certifications, and 8609s.

· Coordinate with and provide project updates to other internal departments as needed, including but not limited to project management, finance, and property management.

· Develop and maintain productive relationships with private lending institutions, state and federal housing programs and funding sources.

· Review and analyze actual property performance, financial statements, tax returns, and LIHTC cost certifications to inform future development projections.

· Other related duties as assigned to support the department’s operations and goals.

Skills and Abilities

· Strong verbal and written communication skills.

· Strong professional demeanor, representing the organization in dress, communication, and conduct.

· Detail oriented with excellent analytical, organizational, and problem-solving abilities.

· Ability to work proactively and independently.

· Proven ability to manage multiple projects, prioritize tasks and meet deadlines.

· Knowledge of real estate, grant management, affordable housing and/or construction, and relevant terminology, with desire to expand knowledge about these topics.

· Demonstrate an ability to create comprehensive proforma schedules for project proposals.

· Ability to read and interpret financial statements.

· Ability to identify strategic opportunities and incorporate new systems or processes to benefit development finance.

· Ability to analyze and interpret federal and state regulations. Ability to interpret contract language.

· Proficiency in Microsoft Word, Outlook, and Excel. Familiarity with development finance software or project management tools is a plus.

· Ability to collaborate effectively across teams, with design and construction professionals, and with external partners.

Education and Experience

· Bachelor's degree in business, Finance, Real Estate, Affordable Rental Housing Development or related field. Experience may be substituted on a year-for-year basis.

· At least 3 years of progressive experience in an affordable housing or real estate environment including experience in rental housing development underwriting.