Housing Development Manager

The Housing Development Manager's primary responsibility is to manage affordable housing proposals from developers seeking local and/or federal funding from the City. This includes regular coordination with affordable housing developers to guide them through eligibility guidelines, the application process, necessary due diligence items, and federal compliance requirements, as applicable. It also includes reviewing applications, underwriting, making financing recommendations, reviewing invoices, tracking loan spenddown, and coordinating with City staff to create funding commitment letters and loan documents. The Housing Development Manager will review development proposals from concept to acquisition, construction and/or rehab, through to development completion. The Housing Development 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 developer proposals for acquisition or development funds by reviewing funding applications, including financial proformas with project 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 Strategy & Development 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; Maintaining the all-affordable housing pipeline; Track development progress during construction, including processing requests for payment, 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. Recommended Minimum Qualifications Education and Experience: Duties involve application of semi-complex procedures requiring special knowledge or ability, e.g., advanced booking or billing procedures, transcription and stenography; ability to operate specialized heavy motor equipment such as a snowplow, grader, backhoe, etc.; includes water or wastewater operation licensing where applicable. Equivalent to high school plus additional training equal to one to two years of college, attainment of Associates level of post-secondary education and/or experience. More than three years, up to and including five years;