Deputy Director, HUD Multifamily Program for the Division of Preservation Finance

Deputy Director Hud Multifamily Program

About the Agency : The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city's neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love. - We maintain building and resident safety and health - We create opportunities for New Yorkers through housing affordability - We engage New Yorkers to build and sustain neighborhood strength and diversity. HPD is entrusted with fulfilling these objectives through the goals and strategies of "Housing Our Neighbors : A Blueprint for Housing and Homelessness," Mayor Adams' comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city's history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City's complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

Your Team : The Office of Development (OOD) leads the agency's effort to create and preserve affordable housing as a critical part of Housing Our Neighbors : A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives. The Division of Preservation Finance administers multiple financing programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Housing Preservation Opportunities Program (HPO), the Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes HUD Multifamily Program (HUD MF), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP), Neighborhood Pillars Program ("Pillars") and the LIHTC Portfolio Preservation (Year 15) Program. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD's Office of Development in support of the Mayor's Blueprint.

Your Impact : The Division of Preservation Finance seeks a Deputy Director for its HUD Multifamily Program. The HUD Multifamily Program ("HUD MF"), which is housed under the Division of Preservation Finance's Federally Assisted Programs, serves two major focal points : to preserve existing HUD assisted housing and establish policy to expand the agency's ability to serve seniors living in HUD assisted housing. The Program leverages public resources and private sector financing to rehabilitate, recapitalize and preserve privately-owned U.S. Department of Housing and Urban Development (HUD)-assisted rental housing throughout New York City. HUD MF serves a variety of HUD-assisted properties. The Program is a critical piece of the Mayor's Housing Blueprint to preserve housing for very low income and low-income households with a focus of serving low-income seniors. The Program also targets properties facing expiring HUD use restrictions possibly at risk of opting out of subsidy programs, in financial distress or facing similar challenges to financing acquisition / rehabilitation while maintaining affordability. The unit is responsible for managing a pipeline of projects resulting in the preservation of approximately 2000 units annually, as well as developing and evaluating preservation policies, program direction, and procedure and developing strategies for service delivery in senior assisted buildings.

Your Role : As Deputy Director, you will work under the supervision of the Director, Federally Assisted Portfolio Preservation Programs to help oversee the agency's HUD Multifamily program to preserve physically or financially distressed HUD-assisted properties and those that are approaching expiring tax exemptions, use restrictions, at-risk of opting out of Section 8 affordability restrictions and converting to market rate housing, or facing a HUD foreclosure. In conjunction with the Federally Assisted Director, the Deputy Director ("Deputy"), will assist in the administration of the Program, and may also oversee projects and transactions in the Year 15 or other programs as needed. As the Deputy, you will help oversee a staff of approximately five, including one assistant project manager, three project managers, and one senior project manager. You will be responsible for maintaining relationships with other regulatory agencies, with a close working relationship wirh HUD, and working effectively with project teams, including existing owners and developers, syndicators, lenders and other key internal and external stakeholders.

Your Responsibilities : As Deputy, you will perform duties including, but not limited to the following : - Review development budgets, pro formas, affordability analyses, and draft internal and external documents (such as credit memos, budget requests, City Council packages, and legal documents) prepared by project management staff for accuracy and negotiated terms; - Establish appropriate goals and targets for the Program and work with staff to achieve them; - Prepare budget requests and assist in managing a budget of combined city funding sources; - Track progress on an annual pipeline of roughly 30 preservation projects, proactively identifying and resolving or recommending solutions to resolve issues or barriers that could delay or jeopardize project closings; - Coordinate with internal and external loan servicers on construction and permanent loan servicing terms; - Review and analyze existing mortgage notes, regulatory agreements and other related documents to help determine preservation strategy; - Act as a liaison with HUD, developers, financial institutions, not for profit organizations and governmental agencies to move preservation projects forward; - Assist the Federally Assisted Director with the development and implementation of plans, strategies, and tools for effective program management; - Participate in all meetings with development teams and any other meetings, presentations, and conferences that pertain to the Program; - Prepare reports, memoranda and written correspondence regarding Program's performance and issues; - Perform general project management duties, as needed; - Represent the agency at community meetings and conferences, as necessary; - Coordinate policy analyses and research as it relates to management and operations of the Program; - Special projects as requested by the Federally Assisted Director or Associate Commissioner for the Division of Preservation

Preferred Skills Demonstrated management experience and ability to manage multiple staff in a fast paced environment is strongly preferred. Candidates must have strong financial analysis skills including financial modeling and financial statement analysis, be detailed-oriented, self-motivated, be able to manage multiple projects and meet competing deadlines. You must also demonstrate strong verbal and written communication skills. Preference will be given to candidates with : a strong financial background (including underwriting experience), knowledge of affordable housing development / lending and knowledge of HPD development programs and specifically, demonstrated analytical skills, and ability to work effectively with others to obtain results promptly. You should possess strong facility with Excel and Word. Candidates with Masters in Urban Planning, Real Estate Finance, Business / Public Administration or related fields are strongly preferred.