Project Manager, Moderate Rehabilitation and Stabilization Loan Programs for the Division of Preservation Finance

Responsibilities

• Your Role:
• 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.
• As Project Manager, you will perform duties including, but not limited to the following:
• Performing general project management duties for a range of capitally funded 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 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, 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 detailed reports, memoranda, presentations, and written correspondence regarding projects, programs, new initiatives, or other special projects, as needed;
• Engaging in programmatic

Benefits

Additional Information

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.

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