Job Information
CITY of SOMERVILLE Housing Development Manager in Somerville, Massachusetts
The Housing Development Program Manager\'s primary role is to manage affordable rental and homeownership development outside of the City?s Inclusionary Housing Program, from project inception to acquisition, construction and/or rehab, through to development completion. The Development Program Manager is required to perform all similar or related duties. Essential Functions: The essential functions or duties listed below are intended only as illustrations of the various type of work that may be performed. The omission of specific statements of duties does not exclude them from the position if the work is similar, related, or a logical assignment to the position. Evaluate prospective property acquisitions and development proposals by reviewing Pro Formas outlining cash flow, sources, and uses; Perform underwriting review with an understanding of City funding source requirements prior to making a recommendation to fund the acquisition and/or development of a property; Collaborate with other City staff to identify City funding sources and provide recommendations on other non-City funding sources where necessary; Prepare written analyses and recommendations on housing development proposals Draft conditional commitment letters; Track due diligence items in preparation for closings, participate in closing calls and collaborate with colleagues both within Housing and other OSPCD divisions and City departments as well as developers on closings; Prepare information on development work as needed, including data tracking and other reporting requirements; Assists in completing environmental reviews and tracking compliance with other state and federal regulations, as necessary; Track development progress during construction, including processing requests for payment, performing site visits, and reviewing lender advisor reports; Conduct research and analyses on other sources needed to expand existing development efforts, including Somerville?s 100 Homes partnership with Somerville Community Corporation; Work to attract developers of affordable housing to conduct work in Somerville; Attend and participate in occasional evening meetings as needed; Other duties as assigned. Minimum Qualifications Education and Experience: Bachelor\'s Degree or advanced degree in planning, business, finance or related field and minimum three to five (3-5) years working in real estate or related field and or experience in real estate closings, and/or comparable experience; or any equivalent combination of education, training and experience which provides the required knowledge, skills and abilities to perform the essential functions of the job. Demonstrated experience in real estate feasibility analysis, including preparation and review of development pro formas, is highly preferred. Experience working on collaborative and unstructured teams also preferred. Knowledge, Abilities and Skill Knowledge: Knowledge of Community Preservation Act, and Municipal Housing Trusts is highly preferred. Familiarity with U.S. Department of Housing and Urban Development Community Development Block Grant, HOME Investment Partnerships Program. Experience in public administration and/or strategies and programs geared toward maintaining and expanding affordable housing opportunities is beneficial; Proficiency in Microsoft Office, specifically Word and Excel; working knowledge of Teams, PowerPoint, and remote meeting platforms such as GoToMeeting and Zoom a plus.