What are the responsibilities and job description for the Senior Tax Credit Officer position at Pennsylvania Housing Finance Agency?
Job Title: Senior Tax Credit Allocation Officer
Location: Harrisburg, PA
Job Purpose:
The Senior Tax Credit Officer is responsible for the oversight and review of Carryover Agreements, 10% Test tracking oversight, and Cost Certifications for Low Income Housing Tax Credit (“Tax Credit”) Developments with the added responsibilities of training of Tax Credit Allocation Officer I (TCAO I) and/or Tax Credit Allocation Officer II (TCAO II), which includes ongoing supervision of processes and coordination of work. Ensures accountability and stewardship of Agency resources (operational, financial, and human) in compliance with divisional standards and procedures.
Essential Duties and Responsibilities:
- Track and oversee the pipeline of Tax Credit Projects related to 10% Test deadlines and Placed-in-Service deadlines.
- Coordinate post-construction phases of the Agency’s multifamily review process in a timely, complete, and accurate manner.
- Act as a liaison between PHFA’s multifamily divisions and rental housing developers being responsible for all necessary follow up with developers throughout the development process to assure compliance with Agency submission requirements and deadlines from post-closing/10% Test to project completion.
- Originate and/or review Tax Credit staff correspondence relating to assigned developments and, as required, maintain necessary records, prepare reports and perform related activities (including data entry) in a timely, complete, and accurate manner, which may include Carryover Allocation Agreements, Subsidy Layering Reviews, Placed-in-Service Packages, and related documents.
- Train and assist Tax Credit Allocation Officers I and II in the analysis and review of submissions to the Agency to encourage proficiency and ensure compliance with program requirements.
- Review and finalize 10% Tests that indicate a potential recapture once assigned staff person has completed the review. Discuss any concerns with the Manager.
- Review Placed-in-Service Packages, completing a full initial or second review of the package and communicate issues to Tax Credit Allocation Officer I/II, Manager, and/or developer, to finalize file for issuance of Forms 8609, and ensure continued compliance of Agency’s guidelines and federal regulations.
- Update/review Carryover requirements yearly and/or Placed-in-Service package instructions as needed and facilitate posting to the Agency website.
- Assist the Manager of the Tax Credit Program – Allocation with special projects, surveys, as needed.
Other Requirements:
- Must have received at least one COVID-19 vaccination since 2020.
- Must be a Pennsylvania resident and either a U.S. citizen or Green card holder.
Work Environment:
- Hybrid work schedule: 2-3 days work from home each week.
Why PHFA?
- Outstanding Benefits: Exceptional medical benefits starting on day one.
- Retirement Plan: Secure your future with our pension plan.
- Flexible Work Options: Enjoy a hybrid work schedule.
- Community Impact: Help provide affordable housing for Pennsylvanians through a trusted state program.
