Supportive Project Manager

About the role

About the Agency: The New York City Department of Housing Preservation Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city's neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love. - We maintain building and resident safety and health - We create opportunities for New Yorkers through housing affordability - We engage New Yorkers to build and sustain neighborhood strength and diversity. ________________________________________ Your Team: The Office of Development (OOD) leads the agency's effort to create and preserve housing in collaboration with other HPD offices as well as other city, state and federal agencies. The Office of Development is composed of eight divisions that administer a range of programs: - New Construction Finance - Special Needs Housing - Building and Land Development Services (BLDS) - Homeownership Opportunities and Preservation - Preservation Finance - Portfolio Management and Conversions - Housing Incentives - Compliance and Enforcement The Division of Preservation Finance administers multiple financing programs to improve financial and physical conditions and preserve or create affordability within privately-owned multi-family and single-family buildings. The division oversees programs utilizing low-cost loans and property tax benefits among other public incentives including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP), Neighborhood Pillars Program (Pillars) the Housing Preservation Opportunities Program (HPO), The Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes Program (PPP), HUD Multifamily Program (HUD MF), and the LIHTC Portfolio Preservation (Year 15) Program. Your Impact: The Division of Preservation Finance seeks a Project Manager to assist the Federally Assisted Portfolio Preservation Programs Unit which oversees oversees Preservation Finance's HUD Multifamily, Low-Income Housing Tax Credit Preservation (Year 15) and Supportive Preservation Housing Programs. Your Role: A Project Manager will assist with projects in the Supportive Preservation Program pipeline. You will be reporting primarily to the Director of that unit but will also assist the Executive Director, along with other Directors and Deputy Directors as needed. As Project Manager, you will be responsible for managing supportive capitally funded projects across a variety of supportive housing building types with different ages, bedroom size distributions, populations served, types of supportive service funding, and percentage of supportive and/or homeless units. You will also work with various existing and proposed financing structures including City subsidized loans, Federal and State subsidized loans, conventional bank loans, mezzanine loans, tax exempt bonds and other tools including rental subsidy tools like the federal Rental Assistance Demonstration (RAD). You will also have frequent interactions with external partners including: for-profit and non-profit developers, supportive service providers, tax credit syndicators, banks, NYC Housing Development Corporation, HUD, property managers, attorneys, architects, and general contractors. As Project Manager, you will also manage the intake, assessment, and underwriting of capitally funded projects applying for financing and/or tax benefits, as well as managing projects through closing. You will further assist in monitoring construction progress through completion, and converting the loan from construction to permanent debt. Your Responsibilities: Primary responsibilities will include but will not be limited to: - Performing general project management duties for a range of capitally funded and tax exemption preservation transactions, as needed, including acquisitions, construction loan closings, troubleshooting projects in construction, facilitating project closings, project completion and loan conversions, and preparing recommendations for work-outs. - Reviewing and analyzing mortgage notes, regulatory agreements, service contracts, and other related documents requiring understanding and applying of complex regulations; - Advanced financial modeling with an emphasis on affordability analysis, real estate tax benefit analysis, supportive service funding analysis, and cash flow projections; - Reviewing legal documents for accuracy in regards to program policy and negotiated deal terms and coordinating loan closings with other HPD divisions and programs; - Ensuring timely completion of transactions; - Reviewing, analyzing, and commenting on underwriting and preservation proposals submitted by project sponsors and making recommendations to senior staff about feasibility, and facilitating approvals necessary for closings, including credit approval; - Producing de

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