Job Description

About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

• We maintain building and resident safety and health

• We create opportunities for New Yorkers through housing affordability

• We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

Your Team:

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Community Partnerships & Finance, Inclusionary Housing and Housing Incentives.

HPD’s Division of New Construction Finance (NCF) is part of the Office of Development which create or preserve affordable housing in New York City. NCF, in collaboration with other government partners, will create approximately 4,000 units of new housing each year for extremely low, Low income to middle income households. NCF administers four loan programs: : 1) Extremely Low & Low-Income Affordability (ELLA) Program, 2) the Mixed Income Program (Mix-and-Match), 3) Mixed & Middle Income (M2) Program, and the 4) Neighborhood Construction Program (NCP).

Your Impact:

HPD’s Division of New Construction Finance (NCF) seeks to hire a Deputy Director of its programs, which includes NCP, ELLA, M2, and Mixed Income (Mix-and-Match) Programs. The Deputy Director will be responsible for managing a pipeline of extreme low, low income to middle income households throughout the five boroughs of New York City and providing guidance and troubleshooting support on complexities that arise in the NCP, ELLA, M2, and Mixed Income (Mix-and-Match) loan programs portfolio. The complicated projects are financed with tax exempt bonds, Low Income Housing Tax Credits, City subsidized loans, conventional bank loans, and other tools such as the disposition of City owned land and New Markets Tax Credits. Projects are often mixed-use with commercial and community facility components, The Deputy Director will help to identify, evaluate, scope out, and close on an expanded pipeline that will help the Division reach the ambitious production goals set out in the Mayor’s Blueprint for Housing and Homelessness.

Your Role:

The Deputy Director will report to the Directors and will work closely with Division staff to produce extreme low, low income to middle income housing. Managing an extensive portfolio of of extreme low, low income to middle income loans where they will act as a development content expert for extreme low, low income to middle income projects across the Division and will serve as main contact for project sponsors, consultants, government agencies and internal agency departments.

Your Responsibilities

As a Deputy Director, you will perform duties including, but not limited to the following

• Reviewing project pro formas and performing other loan underwriting activities;

• Evaluating proposals for site, financial, and development feasibility;

• Tracking, analyzing and reporting on status of projects in predevelopment and closing pipelines;

• Supporting negotiations relating to deal structure, funding commitments and other project requirements on behalf of HPD;

• Assisting in the preparation of applications for additional capital and operating funds including tax credits, rental assistance and service funding;

• Supporting work with architects, sponsors and HPD design review staff to ensure high-quality, sustainable cost-efficient design;

• Reviewing and coordinating submissions of required CEQR, NEPA and other environmental review reports;

• Coordinating submissions of ULURP applications for UDAAP and disposition of City-owned property;

• Working with HPD’s legal department to collect and prepare loan closing documentation;

• Coordinating construction loan and syndication closings;

• Confirming accurate tracking and reporting of key project issues, including timing of project loan closings, construction status, project completion and budget close outs.

In addition to the tasks described above, you may also be tasked with tracking and managing workflow across the Division, participating in the development of RFPs and policy related projects, and assisting the Assistant Commissioner and others with time-sensitive research and report production and additional administrative activities as required.

The position requires a candidate with excellent personal communication and leadership skills, and a demonstrated capacity for the performance of multiple tasks and independent judgment. Candidates should have demonstrated analytical skills and work comfortably with Microsoft Excel. In addition, candidates should have demonstrated capacity and experience analyzing development proposals using knowledge of financing tools including low income housing tax credits and bond financing. There is a strong preference for candidates with significant real estate development experience, knowledge of and interest in the development of affordable housing, housing for the homeless and related social services, knowledge of the construction process and experience with loan underwriting and project scheduling.

In addition to the tasks described above, the individual hired will be expected to take on additional tasks as time allows which may include tracking workflow across the Office of Development, participating in the development of RFPs, assisting the team directors and others with time-sensitive research and report production and additional administrative activities as required

Preferred Skills:

Strong preference for candidates who possess

• Excellent verbal and written communication and strong interpersonal skills, strong analytical, organizational, and quantitative skills.

• Ability to read and understand loan documents, experience with budgeting and project scheduling.

• Demonstrated capacity for performing multiple tasks, analyzing complex processes, using independent judgment, and conducting difficult negotiations while maintaining a sense of humor.

• Background in or knowledge of real estate finance and/or program implementation experience, preferred.

• Preference will be given to candidates with experience working for or with government agencies and government programs related to affordable housing development and experience with the construction process.

• Candidates with Masters in Urban Planning, Real Estate Finance, Real Estate Development, Business Administration, Public Administration or related fields are strongly preferred.

ONLY CANDIDATES WHO PASSED THE ASSOCIATE HOUSING DEVELOPMENT SPECIALIST EXAM OR ARE PERMANENT IN THE ASSOCIATE HDS OR COMPARABLE TITLE WILL BE CONSIDERED.

Qualifications

1.A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or

2. A four year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in "1" above; or

3.A satisfactory combination of education and/or experience which is equivalent to "1" or "2" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have at least two years of experience as described above.

Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.