Note: The job is a remote job and is open to candidates in USA. The California Housing Partnership is a nonprofit organization focused on increasing the production and preservation of affordable homes for low-income Californians. They are seeking a Financial Consultant or Senior Financial Consultant to provide financial consulting services, advising clients on financial strategies and assisting in funding acquisition for affordable housing projects.
Responsibilities
- Advising clients on financial strategies to structure and maximize equity and bond or loan proceeds raised, selection of equity investors and lenders, and negotiation of deal terms, preparation of financial projections and assistance in obtaining funding from a large array of competitive programs including, but not limited to: Tax-Exempt Private Activity Mortgage Revenue and 501(c)3 Bonds
- Federal 9% and 4% Low Income Housing Tax Credits and State of CA Tax Credits
- State of California Housing and Community Development (HCD) programs including: Affordable Housing and Sustainable Communities (AHSC); No Place Like Home (NPLH); Homekey; and Multifamily Finance Super NOFA which includes Veterans Housing and Homelessness Prevention Program (VHHP), Multifamily Housing Program (MHP),Joe Serna Jr. Farmworker Housing Grant (FWHG), and Infill Infrastructure Grant (IIG)
- California Housing Finance Agency (CalHFA) Mixed Income Program (MIP) and tax-exempt permanent loan and bond issuance programs
- State and local government HOME, CDBG, Permanent Local Housing Allocation (PHLA) and local trust funds
- McKinney Supportive Housing Program
- USDA Rural Development programs
- Project-based Section 8 Vouchers and contract extensions
- HUD multifamily and public housing programs, including Rental Assistance Demonstration (RAD), Section 8 PBRA contracts, 202/811 recapitalizations, FHA mortgage insurance, MAHRA, and Preservation programs
- Federal Home Loan Bank AHP Program
- Other federal, state and local funding sources
- Independently run the Partnership’s in-house proforma considering all of the above funding sources, their rules and interactions
- Provide expert advice to nonprofit and local government housing agency partners regarding the optimal use of all the financing programs and services described above
- Provide expert consulting services on syndication and resyndication structuring, including a strong understanding of tax and financial concepts, as well as investor negotiating strategies
- Provide expertise to our partners on exit strategies for projects where Tax Credits are reaching the end of their 15-year compliance period by analyzing project economics, tax and regulatory considerations, and assisting partners in structuring a financing plan that employs innovative techniques to ensure that the nonprofit sponsor can retain ownership of the project with minimal out-of-pocket cash requirements
- Assist in designing and delivering training programs on the above topics, including training sessions for the Housing Development Training Institute (HDTI) conducted by the Partnership
- Provide expert technical assistance to the staff of nonprofit and local government housing agencies regarding the same list of topics
- Assist with basic office administrative functions consistent with a small nonprofit organization
Skills
- At least four (4) years' experience in affordable multifamily housing development and financing
- Master's degree in a directly related field may substitute for up to one year of work experience
- Detailed knowledge of current multifamily financing techniques and resources including the rules of at least the most important financing programs listed
- Extensive hands-on experience with the Low Income Housing Tax Credit (LIHTC) program including experience preparing LIHTC applications with minimal supervision and detailed knowledge of LIHTC investment structuring and analysis
- Extensive experience in developing and running multifamily rental real estate proformas
- Knowledge of and ability to communicate about affordable rental housing policy issues
- Proficiency with Apple computers and various cloud-based tools such as Salesforce, DropBox, Google Drive, and Microsoft OneDrive or willingness and ability to learn such tools
- Expert level ability with Microsoft Office products including Excel, Word and PowerPoint
- Alignment with the Partnership's stated mission as well as core organizational and equity values as demonstrated by prior work and life experience
- Ability and willingness to travel within California
- At least seven (7) years' experience in affordable multifamily housing development and financing
- Master's degree in a directly related field may substitute for up to one year of work experience
- Detailed knowledge of current multifamily financing techniques and resources including the rules of at least the most important financing programs listed
- Extensive hands-on experience with the Low Income Housing Tax Credit (LIHTC) program including experience preparing LIHTC applications with minimal supervision and detailed knowledge of LIHTC investment structuring and analysis
- Extensive hands-on experience in at least one of the following: Applying for and structuring tax-exempt bonds and State of CA HCD programs; Proforma modeling, including full tax analysis; and Lender/investor negotiations and document review
- Extensive experience in developing and running multifamily rental real estate proformas
- Knowledge of and ability to communicate about affordable rental housing policy issues
- Proficiency with Apple computers and various cloud-based tools such as Salesforce, DropBox, Google Drive, and Microsoft OneDrive or willingness and ability to learn such tools
- Expert level ability with Microsoft Office products including Excel, Word and PowerPoint
- Alignment with the Partnership's stated mission as well as core organizational and equity values as demonstrated by prior work and life experience
- Ability and willingness to travel within California
Benefits
- 100% employer-paid medical, dental, and vision insurance
- 80% premium coverage for dependents
- Medical waiver subsidy for employees who opt out of health insurance
- Employer-paid Health Reimbursement Account (HRA) covering up to $1,200/year for out-of-pocket medical expenses
- Hybrid work model
- Employer-funded Specialty Reimbursement Account of up to $500 for home office equipment in the first year and $250 annually thereafter
- Cell phone and home internet reimbursement
- Office commuter subsidy of up to $220 per month
- 403(b) retirement plan with employer contributions based on years of service
- Dependent Care Flexible Spending Account (FSA)
- Immediate paid time off (PTO) accrual and usage with no waiting period
- Access to an Employee Assistance Program (EAP) for mental health and personal support
Company Overview