Department of Housing and Community Development (DHCD) is seeking a Housing Tax Credits Analyst/Housing Program Specialist III in the Division of Housing Development!
AGENCY MISSION:
DHCD is within Housing and Economic Development Secretariat and its work touches the lives of all Massachusetts residents.
DHCD's mission is to strengthen cities, towns and neighborhoods to enhance the quality of life of Massachusetts residents by providing leadership, professional assistance and financial resources to promote safe, decent, affordable housing opportunities, economic vitality of communities and sound municipal management.
OVERVIEW OF ROLE (NOT ALL INCLUSIVE):
Incumbent will have the opportunity to participate in many aspects of the work performed by DHCD’s Division of Housing Development, with emphasis on work related to the many multifamily rental applications and projects which the division works on each year. Incumbent also will have to opportunity to significantly expand their knowledge of affordable housing financing, development, and project management.
Provide technical assistance to developers before and after funding applications are submitted; participate in meetings with developers and community officials to structure projects; conduct site visits; serve as primary reviewer for all tax credit and/or HOME funding applications assigned to them for review; complete all aspects of application review, including highly technical analysis of project feasibility and conformance with Internal Revenue Service (IRS) regulations and/or U.S. Department of Housing and Urban Development (HUD) regulations for programs; help prepare funding recommendations for the Low Income Housing Tax Credit (LIHTC) and HOME managers and the director; review developer information submitted in support of various IRS and/or HUD tests and project deadlines; work with internal and developers’ counsel to facilitate recording of tax credit regulatory agreements; track all tax credit allocations year-to-year and prepare required IRS and Department of Revenue (DOR) reports; track HOME commitments and expenditures as directed; participate fully in the implementation of HOME‑American Rescue Plan Act (ARP); serve as staff person working on all aspects of Massachusetts state tax credit program; work with certified public accountants and other tax credit and HOME professionals; participate in various aspects of compliance and asset management of existing projects; participate in refinancing and sales of existing projects. Other duties as assigned.
SAMPLE OF DUTIES AND RESPONSIBILITIES (NOT ALL INCLUSIVE):
Prepare/Review:
- Serve as a primary reviewer and underwriter for tax credit and HOME pre-applications and full applications, including Housing Development Incentive Program (HDIP) applications, if directed.
- Help prepare funding recommendations for the LIHTC and HOME managers, director, and undersecretary.
- Review developer information submitted in support of various IRS and/or HUD tests and project deadlines.
- Review/analyze refinance or loan modification requests and coordinate DHCD-related transaction tasks.
- Maintain current project and program information in division’s rental database, shared drives and file storage.
- Review/approve project cost certifications and close out reports.
- Work with internal and developers’ counsel to facilitate recording of tax credit regulatory agreements participate fully in the implementation of HOME‑American Rescue Plan Act (ARP)
Coordinate:
- As assigned, coordinate MassDocs loan closing with outside counsel and other lenders.
- Coordinate tax credit tasks for assigned projects, including reviewing carryover documentation, preparing binding commitments, reviewing tax credit regulatory agreements, preparing eligibility statements, and reviewing draft 8609 documents.
- Coordinate and participate in HOME tasks for assigned projects; tasks include but are not limited to preparation of vendor code and contracting documents
- Coordinate/negotiate project workouts.
Monitor & Track:
- Monitor and/or coordinate construction review with contract architect.
- Track project construction progress and review lender advisor reports on a monthly basis.
- Conduct site visits and on-going project reviews, including project eligibility letter (PEL) requests.
- Track all tax credit allocations year-to-year and prepare required IRS and Department of Revenue (DOR) reports
- Track HOME commitments and expenditures as directed.
Training & Technical Assistance:
- Provide direct technical assistance to project sponsors/borrowers/other team members (attorneys, architects, CPAs, contractors, etc.) through meetings, phone calls, correspondence.
- Assist in the training of new junior program staff or new staff.
Meeting Representation:
- Chair/participate in business meetings with other lenders, developers, and their representatives.
- Represent the division and the agency on inter- and intra-agency working groups.
- Represent the agency at various housing related events.
Assist:
- Assist in preparing public presentations on agency policies and programs.
- Assist in meeting various federal and state funding requirements such as: carefully tracking program usage, preparing annual IRS/DOR/ National Council of State Housing Agencies (NCSHA) reports, including the LIHTC 8610 submission, preparing and finalizing the Qualified Allocation Plan and assisting in the collection of program information for submittal to stakeholders, including other executive offices and/or the legislature.
- Assist as directed in implementation of new rental sources available through federal recovery acts of 2021/2022.
- Assist in the preparation of detailed reports on the programs, as required by federal and state legislative committees and as needed for federal and state reporting purposes.
- Assist in the drafting of new/revised guidelines, application materials, training materials, and website information.
- As assigned, assume role of team leader, on tasks, such as annual carryover oversight, compliance monitoring and/or asset management coordination and maintaining/updating program policies and procedures.
- Assist in the training of new junior program staff or new staff.
- Serve as staff person working on all aspects of Massachusetts state tax credit program
PREFERRED QUALIFICATIONS:
- Knowledge of the principles and practices of real estate financing.
- Knowledge of the principles and practices of real estate asset management and/or compliance monitoring.
- Detailed knowledge of the Low Income Housing Tax Credit program.
- Knowledge of federal, state and local resources to support the development of affordable housing, including permanent, transitional and special needs housing.
- Knowledge of principles and practices of affordable and market rate housing and factors influencing the housing market.
- Ability to analyze development and operating pro formas.
- Ability to analyze development project cost certifications.
- Knowledge of legal terminology and requirements of the real estate loan closing process.
- Ability to assume a leadership role in a team setting and to facilitate group participation/process.
- Excellent computer skills, including at least intermediate proficiency using Microsoft Excel, Word, and PowerPoint.
COMMENTS:
Please upload resume and cover letter.
This position would be expected to follow a hybrid model of reporting to work that combines in-office workdays and work from home days, as needed.
Salary placement is determined by years of experience and education directly related to the position and the Human Resources Division’s Recruiting Guidelines. In the case of a promotional opportunity, the salary provisions of the applicable collective bargaining agreement will apply to placement within the appropriate salary range.
Education, licensure and certifications will be verified in accordance with the Human Resources Division’s Hiring Guidelines. Education and license/certification information provided by the selected candidate(s) is subject to the Massachusetts Public Records Law and may be published on the Commonwealth’s website.
QUALIFICATIONS:
First consideration will be given to those applicants that apply within the first 14 days.
Minimum Entrance Requirements: Applicants must have at least (A) four years of full-time, or equivalent part-time, professional experience in real estate management, property management, public housing program management, public housing program development or public housing program administration, or (B) any equivalent combination of the required experience and the substitutions below.
Substitutions:
I. An Associate's degree with a major in real estate, public administration, business administration or business management may be substituted for a maximum of one year of the required experience.*
II. A Bachelor's degree with a major in real estate, public administration, business administration or business management may be substituted for a maximum of two years of the required experience.*
III. A Master's or higher degree with a major in public administration, business administration or business management may be substituted for a maximum of
three years of the required experience.*
*Education toward such a degree will be prorated on the basis of the proportion of the requirements actually completed.
Special Requirements: Based on assignment, possession of a current and valid Massachusetts Motor Vehicle Operator's License may be required.
Comprehensive Benefits:
When you embark on a career with the Commonwealth, you are offered an outstanding suite of employee benefits that add to the overall value of your compensation package. We take pride in providing a work experience that supports you, your loved ones, and your future.
Want the specifics? Explore our Employee Benefits and Rewards! at https://www.mass.gov/commonwealth-employee-benefits-and-rewards
Executive Order #595: As a condition of employment, successful applicants will be required to have received COVID-19 vaccination or an approved exemption as of their start date. Details relating to demonstrating compliance with this requirement will be provided to applicants selected for employment. Applicants who receive an offer of employment who can provide documentation that the vaccine is medically contraindicated or who object to vaccination due to a sincerely held religious belief may make a request for exemption.
An Equal Opportunity / Affirmative Action Employer. Females, minorities, veterans, and persons with disabilities are strongly encouraged to apply.
The Commonwealth is an Equal Opportunity Employer and does not discriminate on the basis of race, religion, color, sex, gender identity or expression, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by appropriate law. Research suggests that qualified women, Black, Indigenous, and Persons of Color (BIPOC) may self-select out of opportunities if they don't meet 100% of the job requirements. We encourage individuals who believe they have the skills necessary to thrive to apply for this role.
Official Title: Housing Program Specialist III
Functional Title: Housing Tax Credits Analyst
Primary Location: United States-Massachusetts-Boston-100 Cambridge Street
Job: Community and Social Services
Agency: Department of Housing & Community Development
Schedule: Full-time
Shift: Day
Job Posting: Sep 22, 2022, 4:44:23 PM
Number of Openings: 1
Salary: $68,016.52 - $98,517.12 Yearly
Bargaining Unit: 06-NAGE - Professional Admin.
Confidential: No
If you have Diversity, Affirmative Action or Equal Employment Opportunity questions or need a Reasonable Accommodation, please contact Diversity Officer / ADA Coordinator: Marjie Lalli - 6175731254