Senior Development Officer (Housing Investment and Finance)

SENIOR DEVELOPMENT OFFICER

HOUSING DEVELOPMENT AND PRESERVATION 

FINANCE AND DEVELOPMENT UNIT

$105,326.69 - $147,456.94 Annually (DOQ)

REGULAR POSITION

Initial salary placement is generally made between the start and mid-point of the posted range. New hires are not eligible to start at the maximum of the posted range.

LACDA Overview

The Los Angeles County Development Authority (LACDA) is a dynamic, innovative agency created in 1982 by the Board of Supervisors to generate affordable housing and economic redevelopment throughout Los Angeles County and participating cities.  Funded primarily with federal grants, the LACDA is an industry leader in sponsoring new solutions to housing and forming partnerships with private and public agencies. To find out more about the LACDA, please visit our web site at www.lacda.org.

Division Overview

The Housing Investment and Finance Division (HIF) administers federal, state, and local funds that are made available to for-profit and non-profit housing developers for the development and preservation of affordable and special needs housing. Additionally, it supports low- and moderate-income homeownership, single and multifamily home rehabilitation and sound mitigation, and various community and economic development projects and initiatives.

Benefits and Work Schedule Overview

• Holiday Pay - Thirteen (13) paid holidays and two (2) eight-hour (8-hour) floating holidays per year.
• Vacation Leave - Ten (10) days (80 hours) of Vacation based on years of service up to twenty (20) days (160 hours) of vacation time per year. 
• Sick Leave - Twelve (12) days (96 hours) of sick time per year.
• Flexible Benefits Plan - Monthly flexible allowance for medical, dental, and vision benefits. 
• Group Life Insurance - Basic Term Life insurance at no cost to the employee.
• Employee Assistance Program (EAP) - Confidential employee assistance program.
• Retirement/Pension Plan - Membership in the California Public Employees’ Retirement System (CalPERS) with five-year vesting, subject to the Public Employee’s Retirement Law (PERL) and the Public Employee’s Pension Reform Act of 2013 (PEPRA).
• Optional 457 Deferred Compensation - Contributions are made by the employee through pre-tax salary reduction up to a maximum per calendar year, (adjusted for inflation), pursuant to section 457 of the Internal Revenue Code. The LACDA currently provides a 3% matching contribution to the employees participating in the plan.
• Compressed Work Week (9/80) - The 9/80 Program allows approved employees to work 80 hours over 9-days and have every other Friday off. (At the discretion of the department Director and based on the department needs).
• Flexible Work Arrangement (Telework) – Approved employees have the option to work a hybrid schedule. (Telework is considered a voluntary and discretionary management option, not an entitlement or employee benefit.)

Position Overview

Under the general direction, the Senior Development Officer performs a variety of highly responsible and complex administrative, technical, and analytical duties in support of the Finance and Development unit within the Housing Investment and Finance Division (HIF). The Senior Development Officer is responsible for managing multiple affordable housing projects from project conception through completion; conducting financial analysis and feasibility studies, administering Requests for Proposals (RFPs), negotiating development and lease agreements, monitors projects for compliance with Authority and federal, state, and local regulations and guidelines; processing contractor installment payments (i.e., “draw requests”) for housing development projects; coordinating with internal Authority divisions to ensure contractors are in compliance with federal and state regulations including prevailing wage requirements; and monitors loan expenditures; providing input to architects regarding project development plans; providing affordable housing financial expertise to project staff, investors, developers, lenders, contractors, and other stakeholders;  and performing other related duties as assigned.

Minimum Qualifications:

Any combination of education and/or experience that provides the required knowledge, skills and abilities to perform the essential functions of the position.  Additional experience, as outlined below, may be substituted for required education on a year-for-year basis

Education:

• Equivalent to a bachelor’s degree from an accredited college or university with major coursework in business or public administration, sociology, finance, urban planning, or other field related to assigned area of responsibility.  

Experience: 

• Four (4) years of increasingly responsible professional experience in real estate development, construction loan administration, housing financing, or a related field. 

Desirable Qualifications:

Desirable Qualifications are used to identify relevant knowledge, skills, and abilities as determined by business necessity. These criteria are considered desirable qualifications and are not intended to serve as minimum requirements for the position. Applicants who possess these qualifications will not automatically be selected.

• Experience performing affordable housing loan underwriting and lending. 
• Experience analyzing and reviewing real estate proformas to evaluate a project’s feasibility and compliance with agency guidelines.
• Experience identifying public funding sources for affordable and/or supportive housing development such as Low-Income Housing Tax Credits (LIHTC), tax-exempt bond funding and/or other similar federal or local housing finance sources.
• Master's degree in Public Administration, Business Administration, Urban Planning, Real Estate Development, or a related field.