Reports to: Director of Community Real Estate
Revised: December 2017
Salary Range: $55,000 – $70,000 Junior level / $75,000-90,000 Senior level
Mission Economic Development Agency (MEDA) – Rooted in the Mission and focused on San Francisco, MEDA’s mission is to strengthen low- and moderate-income Latino families by promoting economic equity and social justice through asset building and community development.
MEDA is advancing strategies for San Francisco’s Latino families and in the Mission District to ensure(1) Families are financially thriving; (2) Families are in stable and affordable housing; (3) Children and Youth are achieving academically; (4) providing access to capital and innovative financial products through the Adelante Fund; and (5) Policy & Advocacy efforts that support our mission.
Mission Economic Development Agency is looking for a ready candidate to manage MEDA’s aggressively growing housing and commercial real estate assets. Mission Economic Development Agency is establishing a Community Real Estate program to fulfill our long term vision of building vibrant, diverse, proud and forward thinking communities in which residents can call San Francisco their permanent home and own their own homes and businesses. As part of a dynamic organization in the Mission district serving the needs of generations of Latino families, we expect the ideal candidate will be passionate about building community value through the development of residential and commercial buildings in the face of intense development pressures. The candidate will be an intuitive problem solver who is meticulously detail-oriented, able to work independently, possesses superior communication skills, is technologically savvy, has a strong sense of initiative and delivers results.
Responsible for planning and monitoring the operational and financial performance of the MEDA’s growing portfolio, benchmarking, investor and lender relationships and acquisition, refinancing and rehabilitation necessary to preserve the portfolio. Work closely with the Chief Financial Officer (CFO) and Director of Community Real Estate to identify and implement long term strategies to improve property performance to meet organizational objectives for asset building, sustainability, community and economic development.
Essential Job Functions
- Closely monitor and consistently report on the operational and financial performance of the portfolio of properties relative to budgets as well as development proformas.
- Responsible for representing owner’s operation interests in joint venture partnerships with development project manager staff.
- Responsible for third party property management relationships and monitoring the performance of the properties they manage. Will review budgets, financials and audits and seek improvements to be in line with projections and owners objectives.
- Prepare financial evaluation and recommendation for any portfolio-wide initiatives including development proforma budgets, benchmarking and utility analysis.
- Monitor all aspects of partnership performance of Tax Credit portfolio including but not limited to status of proforma, equity accounts, future buy-outs, debt refinancing and capital planning.
- Research partnership agreements, financing documents, regulatory agreements, tax returns and other sources to determine ownership objectives.
- Provide constructive input to property management when adverse performance trends arise and actively participate in developing corrective management plans.
- Responsible to coordinate and implement all aspects of refinancing or partnership buyouts up to and including rehabilitation, refinancing and resyndication from funding through construction and final investor payment.
- Prepare and submit financing packages to funding sources and represent the corporation before the agencies to secure approvals.
- Respond to various requests for information from Regulatory Agencies, lenders and investment partners.
- Coordinate and monitor timely and accurate completion of Property Tax Welfare Exemptions
- Coordinate transition from development to operations including document transition, creation of property binders, regulatory compliance, budgeting, LP payment and 8609 processing.
- Perform other assignments and duties as assigned.
Qualifications and job requirements
- To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Bachelor’s Degree or graduate degree with 2 years of experience or more in finance, business administration, accounting or related field. Senior Asset Manager will have 5 years of experience or more in finance, business administration, accounting or related field.
- Strong experience in affordable housing and/or multi-family residential, commercial with non-profit and small business real estate finance preferred.
- Ability to prepare financial feasibility analyses, conduct research, and prepare narrative reports and proposals.
- Experience in developing business and strategic plans.
- General understanding of physical performance of buildings is ideal.
- Proven ability to develop and maintain cooperative relationships with individuals from diverse backgrounds, including board members, public sector staff and officials, representatives of other nonprofit organizations, vendors, and people from low-income households.
- Strong proficiency in using MS Office Word, Excel and Outlook and accounting software
- Commitment to green-building and sustainable policies and practices.
- Commitment to providing long-term affordable housing and to the concept of organizing low-income people to stabilize communities and create social change.
- Superior verbal and written communication skills.
- Strong organizational skills and attention to detail.
- Ability to work independently as well as in a team environment.
- Ability to anticipate needs, risks and problems and to act proactively.
- Capability to analyze complex problems, while being flexible.
- Must be able to travel to community or resident locations within a 60 mile radius of the work site.
- Willingness and ability to attend occasional evening and weekend meetings and events.
Please click on the link below to complete an application for this position, including your cover letter and resume. http://medasf.applicantstack.com/x/detail/a2lg3zar4klu