Asset Management and Housing Production Transactions

This position will assume the lead originating, recapitalizing, and underwriting a variety of multifamily affordable housing loans. This position will be responsible for the following duties:

• Underwriting loans for the production, rehabilitation, and preservation of affordable rental housing with tax credit and/or tax exempt bond financing, with a focus on determining feasibility and effect on the City's repayments, risks, and policy objectives.
• Reviewing financial statements for developments' feasibility and operating contexts, and the financial strength of development sponsors.
• Representing the City on development deal team calls, closing loans and bond issuances by orchestrating work performed by the City Attorney's Office, Finance Department, external counsels, consultants, and transaction support staff.
• Collaborate closely with Asset Management staff on approvals of development transfers, replacement reserve disbursements, capital and operating budgets, and deals' compliance status.
• Coordinating public notices, inducements, public hearings, CDLAC application submissions, and bond fee collection together with the City's Finance Department, City Attorney's Office, external Financial Advisor, and internal staff.
• Suggesting and implementing process and policy improvements.
• Supervision of one FTE and task oversight of up to two FTEs.

This position will lead the implementation of the Inclusionary Housing Ordinance and Affordable Housing Impact Fee programs. This position will be responsible for the following duties:

• Ability to explain the requirements of the Inclusionary and Housing Impact Fee programs in a business-friendly manner and negotiate/work with both market rate and affordable housing developers, land-use consultants, representatives from other City departments and a variety of stakeholders.
• Review planning applications for market rate developments to determine if projects have an affordable housing obligation.
• Analyze regulations and policies; prepare complex written reports and agreements; and develop policies and procedures for new affordable housing options for San Jose residents.
• Monitor projects throughout the entitlement and development processes to ensure developers remain in compliance with their affordable housing obligation.