Multifamily Programs Development Coordinator

Critical features of this job are described under the headings below. They may be subject to change due to changes in our business processes or other business-related reasons.

POSITION SUMMARY:  

The primary duties for the position will be to assist with the allocation and financial review and analysis of developments seeking Multifamily Tax-Exempt Bonds (MTBA) and Low Income Housing Credits (LIHC) and implementation of a lending process using federal funds.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Essential duties and responsibilities include the following. Other duties may be assigned.

• Assists the with the administration of the MTBA program, gap lending using U.S. Department of Housing and Urban Development (HUD) HOME Investment Partnership (HOME) Program funds, and LIHC processes for both non-competitive and competitive credits. 

•  Responsible for the administration, analysis and review of the THDA bond applications, including eligibility review, scoring review, financial feasibility review, and assisting in gathering of supporting documentation for Land Use Restrictive Agreements.

•  Responsible for the administration of non-competitive LIHCs, including final application documentation, financial feasibility review, preparation of IRS Form 8609, and collection of permanent financing documents beyond 8609 issuance.

• Responsible for the financial feasibility and program review of applications to the HOME program seeking rental development loan financing. 

• Assists with financial feasibility review, 10% carryover cost certification, preparation of IRS form 8609, and other duties as assigned associated with the competitive LIHC.

• Performs underwriting and allocation process to drive a diverse group of deal participants toward successful closing.

• Maintains knowledge of industry products, processing procedures, multifamily underwriting and general guidelines to include changes and updates.

• Provides technical expertise and guidance to Multifamily Programs staff related to areas of responsibility in accordance with Internal Revenue Service (IRS) Section 42, THDA approved requirements, and best lending practices and standards.

• Coordinates with THDA staff and develops business requirements across the MTBA, LIHC, and HOME programs in accordance with IRS Section 42 regulations, 24 CFR Part 92 requirements and subsequent THDA approved policy for use with the Tennessee Housing Online Management Application System (THOMAS).

• Evaluates process and protocol performance associated with assigned programs.

• Works with director and managers to identify and address developer and staff programmatic issues.

• Collaborates with THDA staff administering other rental housing financing programs to ensure appropriate cross divisional communication on developments which include multiple THDA financing sources.

• Represents THDA as necessary for program specific conferences, meetings, and panel participation.

• Assists in the creation of program guides and program participant training manuals

• Assist with review of LIHC applications for the annual process as needed.

• Coordinates assigned programmatic reporting requirements, including the completion of quarterly and annual reports as well as regular status/tracking reports and record keeping.

MINIMUM QUALIFICATIONS

The requirements listed below are representative of the knowledge, skills, and/or abilities required.

Education and Experience:

•  Three years of experience in real estate underwriting, the low income housing credit industry, multifamily bond finance, affordable housing lending, and/or related financial program areas is required. Possession of a master’s degree in finance, economics, real estate management, business administration, accounting or a related field may substitute for experience.

• Bachelor’s degree in finance, real estate, business administration, accounting, economics or related field and/or relevant post-high school certification is preferred.

• Previous multifamily affordable housing underwriting experience, ideally including experience with Tax-Exempt bond transactions or with lending of HUD-related programs is preferred.

The above qualifications express the minimum standards of education and/or experience for this position. Other combinations of education and experience, if evaluated as equivalent, may be taken into consideration.

Knowledge, Skills, Abilities, and Competencies:

• Knowledge of real estate finance fundamentals and financial analysis principles.

• Excellent organizational and analytical skills with a high level of attention to detail.

• Knowledge of Multifamily Tax-Exempt Bond application and transactions, housing credit allocation and IRS Section 42 regulations, and/or the ability to learn and apply these. Knowledge of the HUD HOME Investment Partnership Program (HOME) and/or the HUD Housing Trust Fund program are a plus. 

• Ability to analyze real estate projects for financial feasibility including property-specific, neighborhood and market factors.

• Strong working knowledge and understanding of commercial real estate concepts such as Net Operating Income (NOI), Cap Rates, and debt service coverage, etc. is a plus.

• Excellent written and verbal communication, and interpersonal skills.

• Ability to read and interpret complex regulations, laws, agreements, and organization materials.

• Ability to effectively deal with complex issues and manage complex projects while working under pressure to meet deadlines.

• Ability to exercise good judgment in evaluating complex situations.

• Strong interpersonal skills; builds and maintains positive relationships with internal and external constituents.

• Maintains credibility through sincerity, honesty, and discretion.

• Ability to handle private, personal information in a confidential manner.

• Ability to work in a team environment.

• Ability to exercise good decision making when working independently.Excellent problem solving, analytical, and decision making skills.

• Exercises good and consistently fair judgment, courtesy, and tact in dealing with others in giving and obtaining information.

• Strong time management skills; uses time effectively; consistently meets deadlines.

•  Documents regularly, thoroughly, accurately, and completely.

• Willingness to obtain industry certifications through classes and trainings.

• Computer literate; proficient in Microsoft Word, Excel, Outlook, and the internet; able to effectively adapt to and use other computer systems as needed for daily activities.

Special Demands:

The special demands described here are representative of those that must be met by a staff member to successfully perform the essential functions of this job.

• Current, valid driver’s license from domicile state and the ability to drive.

• Occasional in-state and out-of-state travel.

•  While performing the duties of this job, the employee is regularly required to sit; stand; use hands to finger, handle or feel; and talk and hear.

• The employee is occasionally required to walk; reach with hands and arms, and stoop, kneel, or crouch.

• Specific vision abilities required by this job include close vision, distance vision, and the ability to adjust focus.