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Job Title : Executive Director, Federally Assisted Portfolio Preservation Programs for the Division of Preservation Finance(NYC Department of Housing Preservation & Development)
Date Posted : June 17, 2021
Type :

Description :

The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling Mayor de Blasio’s Housing New York Plan which was recently expanded and accelerated through Housing New York 2.0 to complete the initial goal of 200,000 homes two years ahead of schedule by 2022, and achieve an additional 100,000 homes over the following four years, for a total of 300,000 homes by 2026.

Your Team:

The Office of Development leads the agency’s effort to implement the Housing New York 2.0 Plan. The Division of Preservation Finance administers multiple moderate and substantial rehabilitation financing programs which works to provide projects with City assistance to create and preserve affordability. The Division’s preservation efforts include the disposition of City owned or tax foreclosed properties, and providing subsidy and/or tax incentives to ensure good quality housing as well as long term affordability. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Housing Plan to create and preserve 300,000 housing units.

Your Impact:

The Division of Preservation Finance seeks an experienced professional with strong leadership and management abilities to oversee its HUD Multifamily and Low Income Housing Tax Credit Preservation (Year 15) Programs. These two programs account for a larger overall percentage of the annual housing production goals for Housing New York, accounting for an average of 3,500 units closed per fiscal year. Both programs focus on portfolios of projects that have previously received federal assistance via LIHTC (4% and 9%s) and/or where a majority of the units are covered by a form of project-based rental assistance and are located in the five boroughs. The Executive Director is a critical role in creating preservation strategies for this portfolio with particular emphasis on projects that are either at risk of opting out of affordability and/or are in need of rehabilitation or a tax exemption to address physical needs. To accomplish this the Executive Director, will oversee the formulation and implementation of policy and process guidance to identify preservation strategies for this large, diverse portfolio and efficiently effectuate new City assistance through the sizing of new tax exemptions (Art XI or 420C) and new City Capital subsidy. The Executive Director will work with closely with other HPD divisions, including Legal, Asset Management, Credit and Underwriting, and Budget.

Program Areas: The Executive Director’s program areas will include two separate programs with overlapping pipelines: The Year 15 Program includes projects previously funded by the City, the State and the New York City Housing Development Corporation. The majority of these portfolios in the program pipeline will have reached or will be reaching the end of their initial tax credit compliance period (Year 15), and the program works with partners to assess preservation and repositioning strategies, which may involve acquisition proposals and other work out strategies. The HUD Multifamily Program leverages public resources and private sector financing to rehabilitate, recapitalize and preserve privately-owned U.S. Department of Housing and Urban Development (HUD)-assisted rental housing throughout New York City. The Program serves a variety of HUD-assisted properties, including 202 projects, where a majority of the units are covered by a form of project-based rental assistance The Program also targets properties facing expiring HUD use restrictions possibly at risk of opting out of subsidy programs, in financial distress or facing similar challenges to financing acquisition/rehabilitation while maintaining affordability.

Your Role: 

The Department of Housing Preservation & Development and the City of New York is an equal opportunity employer. As Executive Director, your role will leadprogram development, implementation, innovation, and shape policy and production goals. You will work under the direct supervision of the Assistant Commissioner of Preservation Finance and will collaborate with a team of one Director, two Deputy Directors, and 11 project managers. As Executive Director, you will work on implementing agency policy goals in the preservation pipeline and take part in ongoing program improvements and policy development. In your role as Executive Director, you will represent the Division at relevant meetings to convey the department’s position on preservation strategies.
Your Responsibilities:
  • In collaboration with the Assistant Commissioner, overseeing the development and implementation of preservation programs to meet the goals of Housing New York and other initiatives
  • Support the Director in managing the development pipeline for the HUD Multifamily and Year 15 Programs and establish new procedures to ensure efficient use of City resources, timely high-quality closings, completions, and conversions of projects. You will assist staff to proactively manage projects, troubleshoot, make appropriate recommendations, and ensure all necessary approvals.
  • Managing and directing staff, including establishing appropriate productivity measures; supporting staff in achieving programmatic and agency goals, promoting collaboration among staff, promoting a high achievement, ensuring consistent and high quality work, overseeing staff in their performance of their responsibilities, and evaluating staff.
  • Managing administrative functions such as budget forecasting, setting productivity goals, tracking/reporting and compliance.
  • Responding in a timely manner to requests for information and overseeing the production of detailed reports, memoranda, presentations, and written correspondence regarding projects, programs, new initiatives, or other special projects, as needed.
  • Developing and evaluating program requirements and procedures to ensure efficient use of resources, enhance program impact, and accomplishment of City and agency goals.Developing and overseeing outreach and pipeline development strategies.
  • Acting as a liaison with developers, financial institutions, tenant or community groups, and other governmental agencies to preserve affordable housing.
  • Leading special projects, including development and implementation of preservation initiatives and strategies.
  • Representing the Assistant Commissioner on behalf of the agency or agency at internal and external meetings.
  • Collaborating with other HPD divisions to achieve agency goals, as well as to identify, monitor and/or resolve project, program, and policy issues.
  • Strong facility with Excel and Word required.

Preferred Skills

Candidates should have strong managerial experience, a record of achieving results in a fast-paced environment, experience managing programs as well as program development and implimentation, strong financial analysis skills including financial modeling and financial statement analysis, and be detailed-oriented, self-motivated, and able to manage multiple projects and meet deadlines. Candidates should also demonstrate strong verbal and written communication skills and have a track record of proven and successful relationship management. Preference will be given to candidates with:

• Strong management experience, a proven track-record of closing transactions, a strong financial background (including underwriting experience)

• Knowledge of real estate development, affordable housing finance, housing development/lending, and knowledge of HPD development programs,

• Demonstrated analytical skills, and ability to work effectively with others to obtain results promptly.

Candidates with Masters in Real Estate Finance, Business Administration, Public Administration or Planning and related fields are strongly preferred. Knowledge of Access and PowerPoint preferred.

How to Apply:

Please go online and apply at . Search for JOB ID# 000000

City Employees: Apply through the Employee Self Service portal (ESS) at Search for JOB ID# 000000

Salary range for this position is: $105,000 - $115,000

NOTE: Only those candidates under consideration will be contacted.

NYC residency required or not required

The Department of Housing Preservation & Development and the City of New York is an equal opportunity employer.

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