Deputy Director of Homeownership Underwriting and Predevelopment - job 2 of 2

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 leads the agency's effort in implementing the Mayor's Housing Plan. This is achieved in close collaboration with HPD colleagues and other City and state agencies.

The Division of Homeownership Opportunities and Preservation (HOP) within the Office of Development creates and preserves affordable homes to facilitate generational wealth-building, maintain housing quality, and address the legacy of discrimination, segregation, and concentrated poverty. We do so by providing financial assistance to low- and middle-income homeowners, limited equity cooperatives, and community land trusts. Programs within the Division include:

- The Affordable Neighborhood Cooperative Program (ANCP), which selects qualified developers to rehabilitate distressed city-owned occupied multi-family properties, managed by the Tenant Interim Lease Program, to create affordable cooperatives for low- and moderate-income households.
- The Open Door Program, which funds construction of cooperative and fee simple buildings to low, moderate- and middle-income families,
- Small Homes Rehab, which works with nonprofit developers to rehab existing public sites and privately owned 1-4 family homes to create affordable homeownership opportunities for low-income New Yorkers. Community Restoration Fund, which facilitate the acquisition of distressed mortgage notes from mortgage lenders and repositions these assets to preserve affordable homeownership and rental opportunities.
- The Plus One Accessory Dwelling Unit (ADU) program that finances ADU conversions in small homes,
- HomeFix and ProjectHelp programs provide access to affordable low- or no-interest and potentially forgivable loans and grants for home repairs as well as resiliency or energy efficiency improvements to eligible owners of one- to four-family homes in New York City in partnership with nonprofit organizations,
- The HomeFirst down payment assistance program, which provides financial assistance towards down payment and closing costs for first-time homebuyers,
- and special initiatives including Community Land Trusts, designed to ensure community stewardship of land and long-term housing affordability, and the Zombie Homes initiative, to facilitate repositing vacant and abandoned homes as affordable homeownership opportunities.

Your Impact:

The Division of Homeownership Opportunities and Preservation seeks a Deputy Director of Homeownership Underwriting and Predevelopment. The Deputy Director reports to the Executive Director of Homeownership & Shared Equity, the team within HPD that manages programs that result in newly created homeownership opportunities for low- and moderate-income residents. The team also oversees programs that support the rehabilitation of vacant properties into habitable homeownership units and leads the Agency’s efforts on Community Land Trust Initiatives, among other special projects.

Your Role:

The Deputy Director will assist the Executive Director and Program Directors by providing project management and underwriting expertise for ANCP, Open Door, and other homeownership and shared equity projects throughout the predevelopment stages of the development process. The Deputy Director’s portfolio may include some of the most complex or challenging projects under the team’s purview. It may also include policy development related to underwriting and securing financing for shared equity homeownership projects.

The Deputy Director will assist program leadership in managing programmatic processes and tracking, supporting a team of Project Managers, and advising on program policy decisions. There will be significant collaboration across Agency Divisions and external partners. This role will also provide an opportunity to work on multiple projects, assisting in the creation of affordable homeownership units for New Yorkers.

Your Responsibilities:

Primary duties will include, but not be limited to the following:
- Maintaining regular communication with Project Managers assigned to relevant ANCP or Open Door construction or conversion projects;
- Determining feasibility of proposed projects and loan terms, including performing financial analysis;
- Reviewing and advising team members on project proposal materials, including Credit Committee preparation;
- Assisting program staff and leadership with proactively managing projects throughout varying phases of development, troubleshooting problems, making appropriate recommendations, and ensuring all necessary metrics are achieved;
- Supporting new project proposal intake and review
- Counseling developers and program partners in relevant program policies and regulations, especially as related to underwriting and predevelopment activities.
- Planning, scheduling and facilitating various recurring meetings with internal and external program partners;
- Managing administrative functions such as budget forecasting, setting productivity goals, tracking/reporting and compliance;
- Identifying opportunities to train and build out expertise of program staff;
- Contributing to improving the agency’s ability to provide new homeownership opportunities to first-time and low-income homeowners in New York City;


Civil Service Requirement: Only candidates that are serving permanently in the Associate Housing Development Specialist Civil Service Title, those that filed for the latest Associate Housing Development Specialist Civil Service Exam #4122 or those serving in a comparable civil service title will be considered.

Preferred Skills

- Prior experience working with homeownership programs;
- Knowledge of affordable housing development/lending and knowledge of HPD development programs
- Knowledge of NYC government and housing issues;
- Significant experience with housing finance, real estate underwriting and financial feasibility analysis;
- Experience managing programs as well as seeking ways to improve programs and procedures;
- Strong financial analysis skills including financial modeling and financial statement analysis
- Excellent written and verbal communication skills;
- Strong facility with Microsoft Word, Excel & PowerPoint.

ASSOCIATE HOUSING DEVELOPMENT - 22508

1.A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or

2. A four year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in "1" above; or

3.A satisfactory combination of education and/or experience which is equivalent to "1" or "2" 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 at least two years of experience as described 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.