HPD’s LIHTC Preservation (“Year 15”) Program is an affordable housing loan program within the Division of Preservation Finance in the Office of Development. The Program focuses on the preservation of Low Income Housing Tax Credit (“LIHTC”) properties that are reaching the end of the initial 15 year tax credit compliance period. Since Program inception in 2007, the Program has repositioned and extended the affordability of 185 LIHTC projects totaling over 17,280 units.
The LIHTC Preservation Project Manager (“PM”) will work with a portfolio of tax credit properties that are past or reaching the end of their initial tax credit compliance period (Year 15). The PM will work with the Program Director and Deputy Director to assess a project’s physical and financial needs to help shape a preservation strategy to extend affordability. Financing tools include: leveraging new sources of debt (including conventional debt or LIHTC resyndication using a combination of as of right 4% tax credits and tax exempt bonds), low interest city capital loans, and property tax exemptions (420c and Article XI). The PM will also have frequent interactions with external partners including: NYC Housing Development Corporation, for-profit and non-profit developers, tax credit syndicators, banks, property managers, attorneys, architects, and general contractors. The PM will be responsible for working with these partners to evaluate options to extend affordability.Read more
HPD’s Division of Preservation Finance seeks an Assistant Project Manager to support the Director and Deputy Director of the LIHTC Preservation (Year 15) Program. The Division of Preservation Finance administers multiple programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the HUD Multifamily Program, the LIHTC Preservation (Year 15) Program, the Green Housing Preservation Program and the soon to be launched, Small Buildings Loan Program. These programs facilitate the stabilization and rehabilitation of privately-owned multifamily buildings throughout New York City. The Division plays a key role in implementing the overall preservation strategy for HPD’s Office of Development in support of the Mayor’s Housing Plan to create and preserve 200,000 housing units.
The Year 15 Program works with owners of Low Income Housing Tax Credit (LIHTC) properties to ensure their future financial and physical viability as affordable housing properties. Year 15 staff evaluate the needs of each LIHTC project to develop a repositioning strategy for that particular project's financial and capital needs to ensure long-term affordability is preserved. Repositioning strategies may include debt extensions or modifications of existing mortgages, securing additional subsidy, tax exemptions, subordinating to leverage private debt, and/or resyndication. Since inception in 2007, the Program has utilized these tools to reposition and preserve the affordability of more than 179 LIHTC projects totaling over 16,053 units.Read more
The work of the Office of Policy and Strategy (OPS) cuts across traditional areas of responsibility within HPD’s organizational structure to support and strengthen the work of the agency’s various divisions holistically, in close collaboration with the Commissioner’s Office. OPS’s high-performing divisions use their wide-angle view of the agency to conduct activities with both broad-reaching and tightly-focused impact, working with almost every other Office across the agency.
The Deputy Commissioner (DC) of OPS reports directly to the HPD Commissioner and is a critical member of the agency’s senior management team. The DC is responsible for leading the development of strategies to advance HPD’s housing policy objectives and overseeing initiatives to help achieve agency goals and improve operations. With a longer-term strategic focus, the office creates, refines, and promotes HPD and City housing strategies and policies using all analytical tools available across the agency; conducts targeted data and policy analyses; designs and streamlines operational practices and regulatory procedures; promotes and increases opportunities for Minority and Women-Owned Businesses (MWBEs), and ensures property owners and contractors comply with integrity, labor law and economic opportunity requirements. The DC interfaces with and convenes key external stakeholders on a wide range of strategic and policy issues.Read more
HELP USA is one of the nation’s largest low-income housing developers and homeless services providers serving at-risk populations including families, veterans, and survivors of domestic violence. Through quality housing construction and comprehensive programs, HELP enables residents to live in dignity in a safe environment.
With an annual operating budget in excess of $100 million, HELP USA currently serves 25,000 people per year in 52 programs and residences across five states and is continuing to grow. HELP provides 3,500 units of permanent and transitional housing as part of its 30-year commitment to families and individuals in need of safe, stable homes.Read more
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi’s Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients’ and the public’s trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.Read more
Agency Description: The New York City Department of Housing Preservation & Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling the Mayor’s Housing New York: A Five-Borough Ten-Year Plan to create and preserve 200,000 affordable units for New Yorkers at the very lowest incomes to those in the middle class.
Job Description: The Division of Property Disposition and Finance seeks an experienced professional with strong leadership and management abilities to be Executive Director of Homeownership Initiatives. The Executive Director reports to the Assistant Commissioner of Property Disposition and Finance within the Office of Development.Read more
POP Development has a Full-Time Project Manager’s vacancy located in Brooklyn Heights. POP is an experienced developer with over 48 completed developments, several sites in construction, and an active project pipeline. This is an opportunity to develop and preserve affordable housing for families, seniors and persons with special needs, in a dynamic mission-based organization.
This position, under the general direction of the Vice President of POP Development, assists in the strategizing, planning, organizing and implementation of real estate projects. The Project Manager will serve as the primary POP Development point person and be responsible for ensuring the on-time and on-budget completion of a minimum of two real estate projects at one time. The Project Manager must have the ability to work both as part of a team and independently on complex assignments.
With the aim of attracting good people who possess the confidence and drive to get the job done to build a better world, CSH is now accepting applications for a Loan Officer/Senior Loan Officer based in New York. If you have a burning desire to make a difference for people and families others have given up on and often say cannot be helped, we have a place for you. No cynics allowed. Not only has CSH proven supportive housing works and does change the lives of individuals facing acute disabilities, complex medical and mental conditions, substance use disorders and economic barriers, we have done so while creating a family of nationally-recognized experts who stay committed to our organization and mission throughout their careers. CSH offers empowerment, development and growth to those we serve and our workforce. We attract talented professionals, offer competitive salaries with benefits, generous family leave and PTO, and fully embrace the philosophy that a sustainable work-life balance is desirable and achievable. Click here for full posting.
We are seeking an enthusiastic, detailed-oriented individual to join CSH’s Finance Team to support the administration of CSH’s New Market Tax Credit (NMTC) Portfolio. The NMTC Portfolio currently consists of seven projects, but will soon grow to approximately twelve over the next year. Reporting to the Chief Financial Officer, the NMTC Portfolio Manager will manage the administration and compliance of closed projects; assist with the preparation of CSH’s annual NMTC application to the CDFI Fund; prepare required financial reporting; and assist with general New Market Tax Credit loan compliance. A successful candidate must be a self-starter and able to take initiative to successfully manage investments with minimal day-to-day supervision, and work well independently and as part of a team that includes accountants, attorneys, program and compliance consultants, program staff, co-lenders, and government agencies. Click here for full posting.
Neighborhood Restore Housing Development Fund Corporation (“Neighborhood Restore”) and its affiliate nonprofit entities (Restored Homes HDFC, Restoring Communities HDFC, Preserving City Neighborhoods HDFC, Project Rebuild, Inc.) collaborate with the New York City Department of Housing Preservation and Development (“HPD”) on programs that seek to foster neighborhood stabilization by efficiently transitioning properties from physical and financial abandonment to responsible third party ownership. Neighborhood Restore also utilizes citywide partnerships to create affordable home ownership opportunities for households of low- and moderate- income. Click here for full posting.