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IHDA Development Officer

Illinois Housing Development Authority Development Officer

IDENTIFICATION EFFECTIVE DATE: 4/1/2006

POSITION TITLE: Development Officer
SALARY GRADE:
REPORTS TO: Assistant Director/Mgr. MF Underwriting


SUMMARY STATEMENT:
Analyzes applications and makes recommendations on multifamily financing proposals submitted under various debt and equity programs. Responsible for the process from application through final loan closing. Coordinates all staff functions relative to each loan proposal. Performs loan applications reviews under the supervision of Assistant Director/Mgr. MF Underwriting.

ESSENTIAL FUNCTIONS:
1 Evaluates multifamily financing proposals and requests for content, financial feasibility, and soundness with assistance of Assistant Director/Mgr. MF Underwriting, Supervising Loan Officer/TL, and Senior Loan Officer.
2 Reviews proposals for conformance with legal, administrative, and other standards/policies as applicable.
3 Coordinates underwriting activity through final loan closing, including site inspections, cash flow projections, architectural, environment, appraisals, and market reports.
4 Maintains communication with the development team to resolve questions regarding application information or financing approval process.
5 Prepares and presents financing request summary packages for internal loan committee and outside parties, including the Illinois Affordable Housing Trust Fund Advisory Commission and IHDA Board.
6 Assists in the structuring and negotiating of IHDA debt or equity terms for each transaction, as required.
7 Participates in public meetings, makes presentations and responds to inquiries both internal and external regarding IHDA debt and equity resources or processes.

ADDITIONAL DUTIES AND RESPONSIBILITIES:
1 Performs other duties and undertakes special projects as directed by the Assistant Director/Mgr.MF Underwriting
2 Maintains a comprehensive knowledge of loan practices and financing options, including state loan programs, HOME, federal and state housing tax credit programs and other federal financing sources or alternatives.
3 Assists other IHDA staff and departments to facilitate the closing and funding of loans/grants.

EDUCATION AND EXPERIENCE REQUIREMENT:
College degree in finance, urban studies, public administration, public policy, economics, or a related field. Requires the ability to work independently, within time sensitive deadlines, and maintain effective working relationships with internal staff and external parties. Knowledge of Word and Excel required.
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