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Community Development Officer
Local Initiatives Support Corporation
The New York City office of the Local Initiatives Support Corporation (LISC) seeks a professional to fill the position of Community Development Officer. This position reports to the LISC NYC Housing Director.
Background LISC is a national nonprofit organization, which provides financial and technical assistance to neighborhood-based nonprofit community development corporations (CDCs) working to improve housing and economic conditions in distressed neighborhoods. The New York City program works with CDCs and community-based entrepreneurs throughout the city to develop affordable multi-family rental housing, homeownership opportunities, commercial enterprises and community facilities.
LISC New York City raises grants, loans and equity for strategic investments in community development organizations. We commit to working with community groups over a long period of time, providing them with consultation and training in addition to financial support to help these organizations - and the residents they serve - prosper as they improve their communities. In New York City, LISC and its affiliates have invested over $1.7 billion in nonprofit and local developers resulting in the creation of over 30,000 new homes and apartments and 2,000,000 square feet of commercial, industrial, and retail space.
• Underwrite all types of real estate transactions including pre-development loans, construction loans, tax-exempt bonds and low-income housing tax credit transactions including financial modeling and presentations to CDC/Developer Partners.
• Liaise with investors, brokers, property managers, industry consultants, and third parties involved in property valuation.
• Provide technical support and resources to client community development corporations and private entrepreneurs seeking to develop affordable housing and other types of real estate, including the preparation of applications and documentation necessary for debt and equity financing, government subsidies, and rental contract maintenance.
• Manage key relationships with public and private partners. Work closely with City and State partners in the development of projects across all of LISC NYC’s housing programs.
• Work in cross functional teams under deadlines with private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and title companies to structure and close affordable housing transactions.
• Work closely with National Equity Fund acquisition/underwriting staff in structuring potential LIHTC transactions within generally accepted funding guidelines.
• Work with Community Development Team members on initiatives in areas such as CDC staff capacity building and organizational development.
• Coordinate with National Equity Fund’s Asset Management Team on the management of CDC real estate transactions and loan and investment portfolios.
Qualifications The candidate must have strong underwriting experience and familiarity with the New York City area market and a strong commitment to work in the not for profit sector. In particular, the candidate should have experience in Bond and LIHTC underwriting, loan restructuring, and construction underwriting. The candidate should have familiarity with government financing programs including LIHTC and HUD Section-8 as well as New York City and New York State financing programs. In addition, the candidate must have the ability to work collaboratively with coworkers and representatives from the nonprofit, corporate, philanthropic and public sectors. Candidates must have the capacity to work simultaneously on multiple tasks and projects, set priorities for a challenging workload, and be a positive, solution-oriented professional. Excellent writing, financial analysis and verbal communication skills required.
A Bachelors degree and a minimum of 5 years of related experience are required; graduate level education is a plus.
How TO APPLY:
Please send cover letter and resume to:
Denise Scott Managing Director Local Initiatives Support Corporation 501 Seventh Avenue, 7th Floor New York, NY 10018 firstname.lastname@example.org No phone calls please.