About the California Housing Partnership
The California Housing Partnership Corporation (CHPC) is a statewide nonprofit consulting and housing policy organization whose mission is to assist nonprofit organizations and government agencies to create and preserve affordable housing for low-income households while providing leadership in affordable housing preservation policy. CHPC has helped our partners leverage more than $14 billion in private and public financing to create or preserve more than 70,000 apartments. CHPC employs 13 Housing Finance Consultants in our Los Angeles, San Francisco and Sacramento offices to provide comprehensive financial consulting, training and technical assistance services to our clients and partners. Typical client projects range from new construction of family apartments with childcare to acquisition and rehabilitation of SRO buildings for extremely low-income residents with special needs.
Essential Duties and Responsibilities
Housing Finance Consultants advise clients on financial strategies to structure and maximize equity and bond or loan proceeds raised, selection of equity investors and lenders, and negotiation of deal terms, preparation of financial projections and assistance in obtaining funding from a large array of competitive programs including:
- Tax-Exempt Private Activity Mortgage Revenue and 501(c)3 Bonds
- Federal 9% and 4% Low Income Housing Tax Credits and State of CA Tax Credits
- State of California Housing and Community Development (HCD) programs including: Affordable Housing and Sustainable Communities (AHSC); Veterans Housing and Homeless Prevention Program (VHHP); Multifamily Housing Program (MHP); Transit-Oriented Development (TOD); and Infill Infrastructure Grant (IIG)
- California’s Mental Health Services Act (MHSA)
- California Housing Finance Agency (CalHFA)
- State and local government HOME, CDBG and local trust funds
- McKinney Supportive Housing Program
- USDA Rural Development programs
- Project-based Section 8 Vouchers and contract extensions
- HUD multifamily and public housing programs, including Rental Assistance Demonstration (RAD), Section 8 PBRA contracts, 202/811 recapitalizations, FHA mortgage insurance, MAHRA, and Preservation programs
- Federal Home Loan Bank AHP Program
- Other federal, state and local funding sources
Housing Finance Consultants must be able to provide expert advice to nonprofit and local government housing agency clients and partners regarding the optimal use of all the financing programs and services described above and, after an appropriate training period, to independently run CHPC’s in-house proforma taking into account all of the above funding sources, their rules and interactions.
Housing Finance Consultants must be able to provide, after an appropriate initial training, expert consulting services on syndication and resyndication structuring, including a strong understanding of tax and financial concepts, as well as investor negotiating strategies. In addition, Housing Finance Consultants will provide expertise to clients on exit strategies for projects where Tax Credits are reaching the end of their 15-year compliance period by analyzing project economics, tax and regulatory considerations, and assisting clients in structuring a financing plan that employs innovative techniques to ensure that the nonprofit sponsor can retain ownership of the project with minimal out-of-pocket cash requirements.
While the primary duties will be financial consulting services for nonprofit and local government housing agencies, Housing Finance Consultants will also assist in designing and delivering training programs on the above topics. Similarly, they must be able and willing to provide expert technical assistance to the staff of nonprofit and local government housing agencies regarding the same list of topics. Finally, Housing Finance Consultants, like other CHPC employees, must periodically assist with basic office administrative functions consistent with a small nonprofit organization.
Qualifications and Requirements
- At least eight (8) years experience in affordable multifamily housing development and financing (a Master’s degree in a directly related field may substitute for up to one year) for Senior Housing Finance Consultants and at least five (5) years experience for Housing Finance Consultants;
- A detailed knowledge of current multifamily financing techniques and resources including the rules of at least the most important financing programs listed above;
- Extensive hands on experience with the Low Income Housing Tax Credit (LIHTC) program including experience preparing LIHTC applications with minimal supervision and detailed knowledge of LIHTC investment structuring and analysis;
- Extensive experience in developing and running multifamily rental real estate pro formas;
- Hands-on experience with applying for and structuring tax-exempt bonds preferred;
- Project management experience with an LIHTC housing developer preferred;
- Experience in delivery or design of training is also desirable;
- Detail-oriented self-starter with strong organizational skills;
- Ability to multitask and handle overlapping deadlines and assignments;
- Strong interpersonal skills and ability to thrive in small, nonprofit office environment;
- Excellent public speaking and writing skills;
- Proficiency with Apple computers and OS X standard applications;
- Expert level ability with Microsoft Office products including Excel, Word and PowerPoint;
- Knowledge of and ability to communicate about affordable rental housing policy issues;
- Able and willing to take commercial airline flights within California.
Location: This position announcement is for a role in either our San Francisco or Los Angeles offices, depending on the location of the applicant.
Equal Opportunity Employer: CHPC is an equal opportunity employer where diversity is considered an asset. For more information about CHPC, visit our website at www.chpc.net.
Compensation: Salary commensurate with experience. Excellent benefits.
Application Deadline: Open until filled. Applications encouraged by Friday, March 9.