What are the responsibilities and job description for the Development Financial Analyst position at HRI Development LLC?
WHO WE ARE:
Based in New Orleans, Louisiana, HRI Communities (HRIC) is a full-service real estate development company focused on the creation and preservation of quality affordable, mixed-income, and workforce housing. HRIC is vertically integrated with expertise in development, construction, design, governmental relations, environmental matters, historic landmark designation, and property management. HRIC is constantly evolving to meet new challenges and seeks new projects to revitalize neighborhoods nationwide and deliver much-needed mixed-income housing.
HRI Communities’ developments require creative and complex financing structures, often pairing conventional debt and equity with public resources, including 9% Low-Income Housing Tax Credits (LIHTCs), 4% LIHTCs and tax-exempt bonds, 45L tax credits for energy efficiency, tax increment financing, restoration tax abatements, Payments in Lieu of Taxes, Federal and State Historic Tax Credits (HTCs), Community Development Block Grants (CDBG), HOME Funds, amongst others. HRIC excels in navigating complex public/private undertakings to ensure successful outcomes for all project stakeholders. Most importantly, HRIC promises long-term partnerships with public agencies and private financial institutions alike.
POSITION SUMMARY:
The Development Finance Analyst provides financial management of development projects to ensure financial performance goals are achieved.
ESSENTIAL FUNCTIONS:
- Develops and maintains financial models used for real estate development projects
- Collaborates with various internal departments to prepare development budgets and project-level operating projections based on market dynamics, product type, and programming
- Evaluates financing mechanisms, including LIHTCs, tax-exempt bonds, 45L tax credits, tax increment financing, restoration tax abatements, Payments in Lieu of Taxes, Federal and State HTCs, CDBG, HOME Funds, among others
- Analyzes potential financing risks and opportunities, reporting to HRIC development team members, investors, and lenders as appropriate
- Supports Vice President of Development in structuring and securing development funding sources for development projects
- Assists in preparing tax credit and state/local funding applications, adhering to strict submission deadlines
- Prepares financing packages for potential project lenders and investors and fields due diligence requests
- Assists in the review and negotiation of debt and equity term sheets and project closing documents
- Assists in coordinating with lenders, appraisers, attorneys, and others to underwrite and close transactions
- Maintains development budgets throughout project construction
- Assists in the review and preparation of draw requests
- Interacts with lenders and investors to effectively monitor asset performance, including debt service coverage and covenant tests, risk management, and compliance issues, and recommends action plans
- Reviews monthly, quarterly, and annual GAAP financial statements
- Reviews partnership tax returns and audits
- Assists with refinancing, dispositions, distributions, and budgeting
- Ad Hoc reporting as needed
POSITION REQUIREMENTS:
- Degree in finance, real estate, accounting, or related field required
- Real estate industry experience in feasibility, valuations, operations analysis, asset management, and/or development-related roles considered a plus
- Knowledge of LIHTC, HTC, and various other tax credit programs considered a plus
- Knowledge of partnership tax and GAAP financial reporting is considered a plus
- Strong quantitative and technical/computer skills (including proficiency in Microsoft Excel)
- A true self-starter capable of accomplishing complicated tasks
- Excellent written and oral communication skills
- Must possess strong time management and organizational skills with the ability to manage several projects concurrently
- Able to work collaboratively and effectively within a team
- Able to work flexible hours
WE OFFER COMPETITIVE BENEFITS:
- Affordable Health Package (Medical, Dental, Vision, and Wellness Program)
- Employer-Paid Benefits
- 401K, including Company-Matching
- Paid Vacation, Holiday, and Sick Time
EOE/M/F/Vet/Disabled
