Under direction, performs financial planning, underwriting, and financial analysis of requests for Low Income Housing Tax Credits, Community Development Block Grant (CDBG), HOME Investment Partnerships Program, and other sources of funding assistance for affordable housing developments.
Full description and application available here.
ESSENTIAL DUTIES
- Forms and manages relationships with development team, lending partners, public officials, Department of Planning and Development (DPD), City, and management staff, delegate agencies, community organizations, and other related parties, to successfully implement development programs and projects
- Processes applications for new construction, rehab projects, and preservation of existing projects and collects information to evaluate the feasibility of a development proposal; conducts a simple analysis of applications of loans, subsidies, and land sale in conformance with departmental, local, state, and federal program requirements, policies, and procedures
- Processes applications for complex financial structures and conducts financial analysis of subsidy requests, such as HOME or CDBG loans, low-income housing tax credits, Illinois affordable housing and historic tax credits, tax-exempt bonds, and Tax Increment Financing (TIF). Coordinates underwriting with all parties in conformance to applicable regulations and policies per DPD standards
- Prepares detailed written reports to summarize key elements of each development and demonstrate the result of the financial analysis as a means of justifying and funding recommendation; presents recommendations to TIF Task Force, internal, and external loan committees, Community Development Commission (CDC), and other panels as applicable
- Coordinates with City staff, developers, and other parties as needed to implement plans for land and building acquisition and disposition, site improvements, demolition, rights-of-way changes, environmental clearance, and other activities necessary for development projects
- Monitors and reports on the operational and financial performance of the portfolio relative to development proformas and benchmarks. Prepares operational and financial performance analyses, conducts research, and prepares narrative reports and proposals
- Assesses the properties long-tern financial suitability based on the review and analysis of audited financial statements and operational performance. Develops and implements turnaround plans as needed
- Contributes to property watch list process for troubled assets, and oversees necessary property modifications through to resolution
- Prepares PowerPoint and Word reports and presents proposals to Project Round Table, Design Review, and Executive Project Review meetings
- Completes all pertinent documents and data checks and notifies all involved parties in accordance with departmental procedures by established deadlines
- Presents projects in public forums professionally and knowledgeably
Additional duties may be required for this position
Location: City Hall, 10th Floor
Days: Monday – Friday (occasional weekend hours will be required)
Hours: 8:30am – 4:30pm (occasional evening hours will be required)
THIS POSITION IS IN THE CAREER SERVICE
Qualifications
MINIMUM QUALIFICATIONS
- Graduation from an accredited college or university with a Bachelor’s degree in Finance, Business Administration, Accounting, or a directly related field, plus three (3) years of experience in financial analysis, OR
- Graduation from an accredited college or university with a Master’s degree in Finance, Business Administration, Accounting, or a directly related field, plus two (2) years of experience in financial analysis.
SELECTION REQUIREMENTS
This position requires applicants to complete an interview. The interviewed candidate(s) possessing the qualifications best suited to fulfill the responsibilities of the position, will be selected.
Preference will be given to candidates possessing the following:
- Master’s degree in Finance, Urban Planning, Public Administration, or Business Administration
- Previous experience analyzing and evaluating the feasibility of commercial lending, economic development, and/or government funded financial proposals
- Previous project and/or program management experience
- Previous experience making public presentations to groups and/or organizations
- Previous experience reviewing pro forma and other project development budgets
- Proficiency working with Microsoft Word, Excel, Access, and PowerPoint