The Community Development Officer for Economic Development will be responsible for building a pipeline of real estate projects that foster inclusive economic development. The Community Development Officer will provide technical assistance and financing to LISC NYC’s nonprofit partners and other mission-aligned partners to develop projects that will ensure their neighborhoods have critical jobs, services and community assets to complement housing. Examples include multi-tenant industrial buildings, “maker spaces,” commercial spaces, community centers and arts and culture venues. While primarily responsible for economic development, the Community Development Officer will work in collaboration with other LISC NYC staff who focus on affordable housing, and may collaborate on mixed-use projects as well as participate in cross-training / cross-learning opportunities. In addition to sourcing, underwriting, and closing lending transactions, the Community Development Officer will also support the Director of Policy and other senior staff in shaping LISC NYC’s inclusive economic development strategy, sharing lessons learned across the field, measuring outcomes, and carrying out a policy and advocacy agenda that seeks to ensure that public and private investments generate middle skills jobs that provide economic mobility for low- and moderate-income people.
Specifically, the Community Development Officer for Economic Development will be focused on the following:
Business Development, Lending & Technical Assistance
• Develop and manage relationships with local economic development partners including community-based organizations, mission-driven developers, impact investors, financial institutions and local/state, agencies in order to grow LISC NYC’s pipeline of real estate projects that foster inclusive economic development.
• Provide loans and technical assistance to LISC NYC partners undertaking economic development related real estate projects. This includes assistance with assessing project feasibility, underwriting, developing financing strategies, lending, advising on the selection and coordination of third party consultants, and accessing financing via public subsidies and conventional sources.
• Conduct financial modeling for all types of real estate transactions and identify potential sources of financing including pre-development loans, construction and permanent loans, tax-exempt bonds, IDA bonds and New Market Tax Credits.
• Connect partner organizations with expertise and resources from LISC National programs such as small business lending, creative placemaking, and economic development; LISC affiliates such as the New Markets Support Corporation; and external consultants.
• Work under deadlines with cross-functional teams of private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and title companies to structure and close economic development transactions.
Thought Leadership & Policy Systems Change
• Support the Director of Policy and senior staff to refine LISC NYC’s strategic approach to economic development, identify opportunities and partners, and match financing tools to economic development project needs.
• Assist in tracking the impact of LISC NYC’s inclusive economic development projects.
• Work closely with public sector agencies to identify and make available new resources for economic development real estate projects and partner with the LISC NYC Director of Policy to develop policy & advocacy solutions for economic development real estate.
• Contribute to LISC NYC’s thought leadership on inclusive economic development as a means of generating middle skills jobs that provide economic mobility for low-and moderate-income people, including helping to plan and carry out a convening for industry partners to share best practices.
• Collaborate with other champions of inclusive economic development, including key funders, represent LISC NYC as an expert on economic development lending, and share best practices at conferences, trainings and events.
• Prepare reports and findings for investors, funders and other stakeholders as needed.
• 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.