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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 leads the agency's effort in implementing the Mayor's Housing Plan. This is achieved in close collaboration with HPD colleagues and other City and state agencies.
The Division of Homeownership Opportunities and Preservation (HOP) creates and preserves affordable homes to facilitate generational wealth-building, maintain housing quality, and address the legacy of discrimination, segregation, and concentrated poverty. We do so by providing financial assistance to low- and middle-income homeowners, limited equity cooperatives, and community land trusts. Programs within the Division include:
The Affordable Neighborhood Cooperative Program (ANCP), which selects qualified developers to rehabilitate distressed city-owned occupied multi-family properties, managed by the Tenant Interim Lease Program, to create affordable cooperatives for low- and moderate-income households,
The Open Door Program, which funds construction of cooperative and fee simple buildings to low, moderate- and middle-income families,
Community Restoration Fund, which facilitate the acquisition of distressed mortgage notes from mortgage lenders and repositions these assets to preserve affordable homeownership and rental opportunities,
The Plus One Accessory Dwelling Unit (ADU) program that finance ADU conversions in small homes,
HomeFix and ProjectHelp programs, which provide access to affordable low- or no-interest and potentially forgivable loans and grants for home repairs as well as resiliency or energy efficiency improvements to eligible owners of one- to four-family homes in New York City in partnership with nonprofit organizations,
The HomeFirst down payment assistance program, which provides financial assistance towards down payment and closing costs for first-time homebuyers,
and special initiatives including our work to use the Community Land Trust model to ensure community stewardship of land and long-term housing affordability; to redevelop public and private sites as 1-4 family homes; and to create new structures to support cooperate conversion and other affordable homeownership opportunities for low- and moderate-income New Yorkers.
Your Impact:
HOP seeks a Director of Homeownership Special Initiatives. The Director reports to the Executive Director of Homeownership & Shared Equity, who manages programs that result in newly created homeownership opportunities for low- and moderate-income residents, primarily through the ANCP and Open Door Programs within the Homeownership & Shared Equity team. The team also oversees programs that support the rehabilitation of vacant properties into habitable homeownership units and leads the Agency’s efforts on Community Land Trust initiatives, among other special projects.
Your Role:
The Director will assist the Executive Director and Program Directors by providing policy development, underwriting expertise, and staff management for ANCP, Open Door, and other cooperative homeownership projects throughout the development process. The Director’s portfolio may include some of the most complex or challenging projects under the team’s purview, including those that do not conform to an existing HPD Term Sheet. The Director will be responsible for supervision of staff across the Homeownership & Shared Equity team.
The Director will manage special initiatives across the team, including agency work with Community Land Trusts, and advise on program policy decisions. The Director will be responsible for managing the pipeline of projects that create small Homeownership opportunities, which may include properties such as small HPD- or NYCHA-owned properties, Zombie Homes, or properties acquired via the Community Restoration Fund. The Director will also be responsible for managing transactions that help stabilize low-income homeowners who are eligible for the Tax Lien Sale due to nonpayment of municipal arrears. There will be significant collaboration across Agency Divisions and an opportunity to work on multiple projects, assisting in the creation of affordable homeownership.
Your Responsibilities:
Primary duties will include, but not be limited to the following:
Formulating and implementing programmatic policies and procedures;
Determining feasibility of proposed projects and loan terms, including performing financial analysis;
Reviewing and advising team members on project proposal materials, including Credit Committee preparation;
Proactively managing projects throughout varying phases of development, troubleshooting problems, making appropriate recommendations, and ensuring all necessary metrics are achieved;
Counseling developers and program partners in relevant program policies and regulations;
Planning, scheduling and facilitating various recurring meetings with internal and external program partners;
Managing pipeline of projects that includes Community Land Trust initiatives, small homeownership development, cooperative development that does not conform to ex does not conform to existing term sheet programs, transactions intended to stabilize low-income, Tax Lien Sale eligible homeowners, and other Special Homeownership Initiatives;
Supporting ANCP and Open Door transactions as needed;
Managing administrative functions such as budget forecasting, setting productivity goals, tracking/reporting and compliance;
Supervising project managers and identifying opportunities to train and build upon staff expertise, as needed;
Contributing towards improving the agency’s ability to provide new homeownership opportunities to first-time and low-income homeowners in New York City;
Civil Service Requirement: ONLY Candidates that are serving permanently in the Associate Housing Development Specialist Civil Service Title OR those that filed for the latest Associate Housing Development Specialist Civil Service Exam #4122 will be deemed qualified for the position. Candidates will be required to provide proof of filing for Exam #4122.
Preferred Skills
Prior experience working with homeownership programs;
Knowledge of affordable housing development/lending and knowledge of HPD development programs
Knowledge of NYC government and housing issues;
Significant experience with housing finance, real estate underwriting and financial feasibility analysis;
Experience managing programs as well as seeking ways to improve programs and procedures;
Strong financial analysis skills including financial modeling and financial statement analysis
Excellent written and verbal communication skills;
Strong facility with Microsoft Word, Excel & PowerPoint.
The ideal candidate is a creative, analytical, solutions-oriented professional that has strong affordable housing underwriting experience.
ASSOCIATE HOUSING DEVELOPMENT - 22508
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
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.
Salary Min: $115,000.00
Salary Max: $115,000.00