Housing Director jobs in Bakersfield, CA

REPORTS TO:                      Managing Director, Financial Consulting

STATUS:                              Full-Time (40 hours/week), Exempt

SALARY:                             $130,000 - $142,000 per year

LOCATION:                         California, U.S. (Remote or Hybrid) 

ABOUT

The California Housing Partnership (the "Partnership") is seeking to hire a Housing Finance Consultant ("HFC") to join our Housing Finance Consulting team. Unlike typical financial advisors, the Partnership’s Housing Finance staff do not see themselves as third-party consultants whose sole task is to run financial projections and advise on important financial decisions. Because we take to heart the part of our mission that focuses on building the long-term capacity of our clients, who we see as long-term partners, Housing Finance staff must be able and willing, after appropriate training, to provide intensive coaching and mentoring to less experienced project managers from our partner organizations as well as to engage more experienced project managers and Directors of Housing Development in detailed conversations about the pros and cons of various approaches to financing their developments and tips on avoiding pitfalls in the development process. Housing Finance staff also provide inside information on the latest trends in pricing and likely changes to program regulations and funding sources before they change.

BASIC DUTIES & RESPONSIBILITIES

HFCs are responsible for advising clients on financial strategies to structure and maximize equity and bond or loan proceeds raised, selection of equity investors and lenders, and negotiation of deal terms, preparation of financial projections and assistance in obtaining funding from a large array of competitive programs including, but not limited to:

• Tax-Exempt Private Activity Mortgage Revenue and 501(c)3 Bonds
• Federal 9% and 4% Low Income Housing Tax Credits and State of CA Tax Credits
• State of California Housing and Community Development (HCD) programs including:  Affordable Housing and Sustainable Communities (AHSC); No Place Like Home (NPLH); Homekey; and Multifamily Finance Super NOFA which includes Veterans Housing and Homelessness Prevention Program (VHHP), Multifamily Housing Program (MHP),Joe Serna Jr. Farmworker Housing Grant (FWHG), and Infill Infrastructure Grant (IIG)
• California Housing Finance Agency (CalHFA) Mixed Income Program (MIP) and tax-exempt permanent loan and bond issuance programs
• State and local government HOME, CDBG, Permanent Local Housing Allocation (PHLA) and local trust funds
• McKinney Supportive Housing Program
• USDA Rural Development programs
• Project-based Section 8 Vouchers and contract extensions
• HUD multifamily and public housing programs, including Rental Assistance Demonstration (RAD), Section 8 PBRA contracts, 202/811 recapitalizations, FHA mortgage insurance, MAHRA, and Preservation programs
• Federal Home Loan Bank AHP Program
• Other federal, state and local funding sources

After an appropriate training period, HFCs also must be able to:

• Independently run the Partnership’s in-house proforma considering all of the above funding sources, their rules and interactions.
• Provide expert advice to nonprofit and local government housing agency partners regarding the optimal use of all the financing programs and services described above.
• Provide expert consulting services on syndication and resyndication structuring, including a strong understanding of tax and financial concepts, as well as investor negotiating strategies.
• Provide expertise to our partners on exit strategies for projects where Tax Credits are reaching the end of their 15-year compliance period by analyzing project economics, tax and regulatory considerations, and assisting partners in structuring a financing plan that employs innovative techniques to ensure that the nonprofit sponsor can retain ownership of the project with minimal out-of-pocket cash requirements.

While the primary duties are providing financial consulting services for nonprofit and local government housing agencies, HFCs must also assist in designing and delivering training programs on the above topics, including training sessions for the Housing Development Training Institute (HDTI) conducted by the Partnership. Similarly, they must be able and willing to provide expert technical assistance to the staff of nonprofit and local government housing agencies regarding the same list of topics. Finally, HFCs, like other Partnership employees, must periodically assist with basic office administrative functions consistent with a small nonprofit organization.

QUALIFICATIONS & REQUIREMENTS

Our ideal candidate is someone with current and advanced knowledge in affordable multifamily housing development and financing. Those with experience in applying for and structuring tax-exempt bonds, recent project management experience with a LIHTC housing developer, and/or experience in delivering or designing related trainings are highly encouraged to apply. With this, we are seeking individuals that are detail-oriented, self-starters, possess strong organizational skills and the ability to multitask overlapping deadlines and assignments, and have strong interpersonal and communication (verbal and written) skills.  

We recognize that each applicant for this role will bring unique skills, knowledge, experiences, and background to this position. We welcome diverse experiences and perspectives in our applicant pool, and at a minimum are seeking candidates who possess the following: 

• At least four (4) years' experience in affordable multifamily housing development and financing.
  • Master’s degree in a directly related field may substitute for up to one year of work experience.
• Detailed knowledge of current multifamily financing techniques and resources including the rules of at least the most important financing programs listed.
• Extensive hands-on experience with the Low Income Housing Tax Credit (LIHTC) program including experience preparing LIHTC applications with minimal supervision and detailed knowledge of LIHTC investment structuring and analysis.
• Extensive experience in developing and running multifamily rental real estate proformas.
• Knowledge of and ability to communicate about affordable rental housing policy issues.
• Proficiency with Apple computers and various cloud-based tools such as Salesforce, DropBox, Google Drive, and Microsoft OneDrive or willingness and ability to learn such tools.
• Expert level ability with Microsoft Office products including Excel, Word and PowerPoint.
• Alignment with the Partnership’s mission and commitment to diversity, equity, and inclusion.
• Able and willing to travel within California

ABOUT THE CALIFORNIA HOUSING PARTNERSHIP

The Partnership is a dynamic nonprofit “think and do tank” providing critical technical assistance, training, applied research and policy leadership to increase the production and preservation of affordable and sustainable homes serving Californians who are low-income.

To achieve this mission, the Partnership’s three technical assistance teams (finance, clean energy, applied research) work closely with a network of more than 60 mission-driven nonprofit and government housing agencies throughout California, as well as the nonprofit associations who represent them.

A deep commitment to racial equity and inclusion grounds the Partnership’s work and policies – click here to learn more about our core equity values. An Equity Policy Advisory Board ensures that the perspectives and experiences of low-income renters also grounds our work – click here to learn more about this board .

COMPENSATION

The Partnership provides annual performance-based raises and maintains competitive salary ranges. Compensation for all permanent employees working 20 or more hours per week includes a robust benefits package of 100% employer-paid health, dental, vision, chiropractic/acupuncture, transit subsidy, cellphone reimbursement, health reimbursement account, employee assistance plan, and employer contributions to 403(b) retirement plan.

EQUAL OPPORTUNITY EMPLOYER

The California Housing Partnership is an equal opportunity employer and is committed to creating a diverse, equitable, and inclusive workplace. We strongly encourage people of diverse backgrounds and identities to apply. For more information about the Partnership, visit our website at www.chpc.net.