AC, Project Finance
About the Company
Baltimore is the largest city in the U.S. state of Maryland, and the 29th-most populous city in the country. It was established by the Constitution of Maryland and is not part of any county; thus, it is the largest independent city in the United States. Baltimore has more public monuments than any other city per capita in the country and is home to some of the earliest National Register historic districts in the nation, including Fell's Point (1969), Federal Hill (1970) and Mount Vernon Place (1971). More than 65,000 properties, or roughly one in three buildings in the city, are listed on the National Register, more than any other city in the nation.
The Baltimore City Department of Housing and Community Development (DHCD) was created in 1968 to consolidate local community development efforts with housing and building code enforcement. With over 400 employees, DHCD strengthens City neighborhoods by attracting investors, developers, and homebuyers. Through the administration of Community Development Block Grant (CDBG), Home funds, City bond funds, and other creative financing mechanisms, DHCD’s finances and guides strategic development projects to meet housing and neighborhood needs. To hold property owners accountable and keep neighborhoods safe, DHCD monitors construction and building activity and enforces the City's building, fire, zoning and related codes, as well as provides energy conservation services.
About the Job
The Assistant Commissioner of Project Finance within the Development Division is responsible for directing and managing the activities of the Project Development section relating to the coordination loan program production and loan closing for all DHCD development projects. Supervises staff engaged in compliance and inspection including evaluating the performance of, disciplining and recommending promotion, hiring and firing of such personnel. Work of this class involves managing real estate development officers, underwriters, project compliance officers, project coordinators, administrative staff and inspection personnel. The incumbent reports to the Deputy Commissioner of the Development division.
Responsibilities
Conducts detailed, high-level financial analysis; prepares development options and strategies, determines financial feasibility, as well as underwrites and assesses development proposals and develop recommendations
Coordinates loan program activities and loan closing for development projects with City funding, such as, Investment Partnerships Program (HOME), Affordable Housing Trust Funds (AHTF), Community Development Block Grant (CDBG), Community Development BOND funds, Section 108, Rental Housing Production (RHP), Taxable Bonds, and Syndication of 9% and 4% Low Income Tax Credits
Evaluates the performance of staff (underwrites, project compliance officers, project coordinators, administrative staff and inspection personnel); disciplines and recommends the promotion, hiring and firing of such personnel
Provides technical assistance to staff on underwriting, development loan packaging and approval processes of loan transactions. Supervises the closing of all agreements associated with project pre-development, development and post-development funding and financing for new construction and/or renovation of residential multi-family and public facilities and other community development activities
Advises applicants on borrowing and development and assists them in the city development process
Establishes and maintains liaison with attorneys, funding agencies such as the U.S. Department of Housing and Urban Development, State of Maryland, Baltimore Community Lending (BCL), and the City of Baltimore—Finance Department on specific transactions and projects
Develops procedures according to policies to ensure compliance with State, Federal and Local law; implements new financing techniques. Supervises the preparation of narrative statistical analysis, track reports for DHCD, the City, State and other entities
Meets with private industry developers and non-profit organizations to garner support for publicly funded developments
Participates in panel discussions on resale or reuse of City owned
Qualifications
Minimum Qualifications:
Master’s degree in business administration, Public Administration, Management, Law or related field from an accredited college or university
At least six (6) years of senior management, policy-driven operational responsibilities, including 3 years of experience managing homogeneous functions of subordinate supervisors is required
OR an equivalent combination of education and experience
Knowledge & Skills:
Knowledge of the principles, practices and procedures of business and public administration
Knowledge of the principles and practices of financial analysis and of construction lending and underwriting
Knowledge of research techniques and methodologies
Knowledge of the principles and practices of real estate development
Knowledge of organizational structure, staffing patterns and administrative controls
Knowledge of general principles, practices and techniques of urban development, urban renewal, particularly those relating to acquisition, disposition and management of real property
Ability to synthesize data from a wide variety of sources and construct complex statistical reports
Ability to communicate effectively and to present research results orally and in writing
Ability to interpret, explain and implement Federal, State and private financial institutions’ policies pertaining to loans and development financing
Ability to plan, organize, direct the work of others and develop operational programs and procedures
Ability to speak and testify effectively before governmental and legal bodies and commissions and community and business groups
Ability to establish and maintain effective working relationships with city officials, community and business groups
Ability to exercise judgment and discretion in applying and interpreting departmental policies, laws, rules, regulations and procedures
Ability to develop and install program procedures
Ability to maintain confidentiality of sensitive information
Ability to communicate effectively with co-workers, staff of other agencies and the general public
Skill in the analysis and evaluation of development proposals
