The Community Development Officer for Housing works with the LISC NYC Director of Lending to develop and execute a program of strategic housing investments to advance the objectives of LISC NYC’s strategic plan. A primary focus of the role is sourcing affordable housing development and preservation transactions and managing relationships with nonprofit and for-profit developer partners who are working in coordination with city and state housing agencies such as the New York City Department of Housing Preservation and Development, New York State Homes and Community Renewal, and New York City Housing Authority. The successful candidate will have knowledge of the public and private resources available to leverage LISC’s investments, and will have the skills to strategically deploy LISC’s full array of financing products such as predevelopment, acquisition, construction, and bridge loans, lines of credit, and tax credit equity, working alongside LISC’s affiliate National Equity Fund.
Specifically, the Community Development Officer for Housing will be focused on the following:
Business Development, Lending and Technical Assistance
Market LISC NYC’s financial and technical assistance resources by building upon LISC NYC’s established historic relationships with nonprofit community development corporations (CDCs), with an eye toward continued stewardship of the community-based housing sector, while also identifying opportunities to expand LISC NYC’s client base and pursue other business development strategies.
Structure, negotiate, and originate a robust pipeline of affordable housing transactions that facilitate the deployment of LISC capital and technical assistance resources.
Underwrite all types of affordable housing real estate transactions requiring LISC pre-development, acquisition, construction, or permanent loans, tax-exempt bond financing and Low Income Housing Tax Credit (LIHTC) financing. Conduct financial modeling and presentations to affordable housing development sponsors.
Coordinate with LISC affiliate National Equity Fund (NEF) acquisition/underwriting staff to provide technical assistance and financing where LISC NYC’s client relationships align with NEF’s LIHTC syndication activities.
Manage key relationships with public and private sector partners. Work closely with City and State government to develop projects across all of LISC NYC’s housing programs, including originating loans for the NYC Department of Housing Preservation and Development (HPD) Participation Loan Program (PLP), the New York City Employees’ Retirement System (NYCERS) program and the NYC Acquisition Loan Fund.
Provide technical assistance to LISC NYC’s partners, including nonprofit community development corporations and private entrepreneurs, seeking to develop affordable housing and other types of real estate. Assist in the preparation of applications and documentation necessary for debt and equity financing, government subsidies, and rental contract maintenance.
Provide technical assistance, in collaboration with colleagues at LISC’s affiliate National Equity Fund (NEF), to sponsors of affordable housing whose projects are approaching Year 15 of their LIHTC compliance periods, in order to exit, reposition, and refinance their housing portfolios.
Present loan recommendations to LISC’s credit committee. Perform credit analysis, including analyzing borrower operating performance, project financial performance, borrower management capacity, and project feasibility of affordable housing projects.
Work in cross functional teams under deadlines with private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and other entities to structure and close affordable housing transactions.
Program Development & Policy Systems Change
Work with LISC NYC staff to develop and implement programs that apply LISC’s technical assistance and financing capabilities to solve critical challenges identified through LISC NYC’s strategic planning process.
Collaborate with the LISC NYC Director of Policy and the LISC NYC Leadership Team to elevate lessons learned from LISC NYC’s transactional work and shape a more robust policy and advocacy agenda at the state and local level.