Executive Director, Multifamily Cooperative Preservation Team for the Division of Preservation Finance

Job description

About the Agency: The Department of Housing Preservation and Development (HPD) oversees housing standards across all 3.7 million homes in New York City. As the nation’s largest municipal housing agency, HPD is responsible for building and preserving affordable housing, protecting tenants from harassment and displacement, and holding landlords accountable across the five boroughs. Under Commissioner Dina Levy and the Mamdani Administration, HPD is pursuing an ambitious housing agenda, Block by Block, focused on the needs of New York’s tenants. With a broad set of tools including standards enforcement, tenant resources, and the creation of new affordable housing, HPD is committed to making New York City a more affordable place for renters and homeowners alike. ________________________________________ Your Team: The Office of Development (OOD) leads the agency’s effort to create and preserve housing in collaboration with other HPD offices as well as other city, state and federal agencies, and the New York City Housing Development Corporation (HDC). The Office of Development is composed of nine divisions that administer a range of programs: - Executive Office of Operations and Policy - New Construction Finance - Special Needs Housing - Building and Land Development Services (BLDS) - Homeownership Opportunities and Preservation - Preservation Finance - Portfolio Management and Conversions - Housing Incentives - Compliance and Enforcement The Division of Preservation Finance administers multiple financing programs to improve financial and physical conditions and preserve or create affordability within privately-owned multi-family and single-family buildings. The division oversees programs utilizing low-cost loans and property tax benefits among other public incentives. Your Impact: The Division of Preservation Finance seeks an Executive Director for the Multifamily Cooperative Preservation Team. Reporting to the Assistant Commissioner of Preservation Finance, in your role as Executive Director, you will manage providing assistance to existing limited equity cooperatives in the five boroughs. These buildings may access assistance via city capital subsidy and residential real estate tax exemptions under the applicable existing Preservation Finance term sheets to improve living conditions, preserve safe affordable housing for low- and moderate-income households in New York City, and reduce building operating expenses. These programs are a key element of the Mamdani administration’s goals to preserve limited equity cooperatives, particularly Mitchell-Lama developments and HDFCs. Your Role: Under the supervision of the Assistant Commissioner of Preservation Finance, you will oversee one Director, three Deputy Directors and a pooled project management staff of approximately 15 project managers, including directly supervising multiple Senior Project Manager(s) and/or Assistant Project Manager(s). You will manage and track capitally funded projects across a variety of building types including Mitchell-Lama developments and HDFC co-ops financed with City subsidized loans, Federal and State subsidized loans, conventional bank loans, mezzanine loans, tax exempt bonds and other tools in an efficient and timely manner to hit annual Block by Block goals and target closing timelines. This tracking includes managing and successfully deploying a budget of city funding, executing loan or tax exemption closings, completions, and conversions. As Executive Director, you will also be responsible for handling administrative functions such as budget forecasting, reporting and compliance requirements. In addition, you will work on program improvements and policy development to better implement the Mayoral housing plan and agency goals. All programs and initiatives include significant coordination with internal and external stakeholders. Your Responsibilities: As Executive Director, you will perform duties including, but not limited to the following: - In collaboration with the Assistant Commissioner, overseeing the development and implementation of plans, strategies and tools for effective program management. - In collaboration with Director/Deputy Directors, managing the development pipeline for all of the financing programs and ensuring timely, high-quality closings, completions, and conversions of projects to support the mayoral goal of efficient housing production. Assist the Director/Deputy Directors and project managers to proactively manage projects, troubleshoot, make appropriate recommendations, and ensure all necessary approvals. - Identify opportunities for improved processes and procedures for the program, and implement new agency policies and initiatives, such as Mamdani administration’s housing goals, into the programs and projects. - In conjunction with the Assistant Commissioner, establish appropriate productivity measures for staff and goals and targets for the unit and work effectively with staff to achieve them. - Establish effective systems for monitoring and tracking the unit’s work and ensure quality control across all staff deliverables. - Managing administrative functions such as budget forecasting, setting productivity goals, tracking and reporting. - Act as a liaison with developers, financial institutions, not for profit organizations and governmental agencies to promote and preserve affordable housing. - In conjunction with project management staff, development teams and the Assistant Commissioner, prepare, review and interpret development budgets, pro formas, and affordability analyses. - Perform general project management duties as needed, including construction loan closings, troubleshoot projects in construction, facilitate project completion and prepare recommendations for work-outs prior to permanent loan conversion. - Participate in all meetings with development teams and any other meetings, presentations and conferences that pertain to the programs. - As needed, collaborate with other HPD divisions to identify, monitor and/or resolve site, design, environmental and construction monitoring issues. - Represent the agency at community meetings, interagency working groups and conferences, as necessary; - Prepare reports, memoranda and written correspondence regarding program’s performance and issues. - Expedite and follow up on unit’s projects with other city agencies, before, during and after construction, as required. - Coordinate special projects, conduct policy analyses, initiate research and make recommendations that relate to the management and operations of program and other issues as requested by the Assistant Commissioner for the Division of Preservation Finance. Preferred Skills You should have strong managerial experience, a record of achieving results in a fast-paced environment, experience managing programs as well as seeking ways to improve programs and procedures, strong financial analysis skills including financial modeling and financial statement analysis, and be detailed-oriented, self-motivated, and able to manage multiple projects and meet deadlines. As a successful candidate, you should also demonstrate strong verbal and written communication skills. Preference will be given to candidates with: strong management experience, a proven track-record of closing transactions, a strong financial background (including underwriting experience), knowledge of real estate development, affordable housing finance, housing development/lending, and knowledge of HPD development programs, demonstrated analytical skills, and ability to work effectively with others to obtain results promptly. Candidates with Masters in Real Estate Finance, Business Administration, Public Administration or Planning and related fields are strongly preferred. Strong facility with Excel and Word required. Knowledge of Access and PowerPoint preferred. ADM HOUSING DEV SPEC(NON MGRL) - 8300A 1. A baccalaureate degree from an accredited college and four years of full-time satisfactory professional experience in the development, design, construction, appraisal, financing, negotiation or disposition of real estate or in real estate law, or in urban planning, design or renewal, or analytical or coordination work related to housing programs; at least 18 months must have been in an executive, administrative or managerial capacity or supervising professional personnel performing work in the fields noted above; or 2. Education and/or experience which is equivalent to "1" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have three years of work experience including at least 18 months of executive, administrative, managerial or supervisory experience as described in "1" above. The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.