Housing Preservation Specialist at Housing Assistance Council Inc – Washington, District of Columbia

The Housing Assistance Council (HAC) is a national nonprofit Community Development Financial Institution (CDFI) that strengthens communities across rural America through investment and assistance with affordable housing and community and economic development initiatives. Based in Washington, DC, HAC delivers technical assistance, training and affordable loans to local organizations, and shape federal policy and the affordable housing industry with research, information, and policy development. At HAC, we celebrate the rich diversity of rural America and proudly maintain a diverse staff and Board of Directors. We are an equal opportunity workplace whose decades of success come from being open, inclusive, and connected to each other.

This position will be located with HAC’s Center for Multi-family Housing Preservation. The Center takes a multi-disciplinary approach to preserving affordable housing in Rural America by simultaneously leveraging technical assistance, research, and policy. The Center has a specialized focus on at-risk multifamily portfolio created through the United States Department of Agriculture Rural Development (USDA Section 515). The Center is primarily funded through a combination of grants, and staffing is contingent on continued receipt of technical assistance grants from USDA Rural Development.

POSITION SUMMARY

The Housing Preservation Specialist is responsible for providing direct technical assistance to mission-focused organizations seeking to acquire, rehabilitate, and preserve USDA Section 515 multifamily rental properties. HAC’s technical assistance spans the entire acquisition and rehabilitation cycle, from purchase and sales negotiation to post-construction occupancy. The position is full-time, with the option of working remotely, and will be paid a competitive salary and benefits package.

PRIMARY RESPONSIBILITIES

Provide hands-on technical assistance to nonprofit organizations interested in acquiring or otherwise preserving at-risk; USDA funded (Section 515) affordable multifamily housing.

• Evaluate USDA Section 515 transfer and preservation opportunities. Includes conducting direct outreach to potential sellers and purchasers.
• Develop preservation and financing strategies, including seeking local/state/federal financing resources. Present and recommend paths for acquisitions for mission-focused partners.
• Support purchases with negotiation of purchase contracts with sellers.
• Assist borrowers in obtaining third party reports such as appraisals and capital needs assessments.
• Assess/underwrite properties using industry standards financial proformas, including the USDA Preliminary Assessment Tool (PAT).
• Prepare and package USDA transfer applications, with an emphasis on completing federal application forms.
• Coordinate with USDA and other project funders throughout the preservation transaction process.
• Conduct site visits, as needed and directed/authorized.
• Compile summary reports on technical assistance activities.
• Keep abreast of industry standards, challenges and changes impacting rural affordable housing properties.
• Contribute to special team projects and initiatives related to rural homelessness, the availability of services in rural affordable housing, and other priorities identified by HAC.
• Contribute to the development of policy recommendations that will result in the preservation of more affordable housing in rural communities.

QUALIFICATIONS

Required.

1. Bachelor’s degree in relevant field preferred
2. Minimum of 5 years working in real estate finance or real estate development.
3. Experience with rental housing underwriting and financing. understanding of the development process, including the bidding, construction, and legal closing processes.
4. Knowledgeable about state and federally supported affordable housing ecosystem, including USDA Rural Development, Housing & Urban, Development, and/or the Low-Income Housing Tax Credit program.
5. Experience in preparing and negotiating complex transactions and balancing the programmatic needs of community-based organizations with sound underwriting judgment and risk mitigation
6. Strong financial, analytical, and communication skills.
7. Excellent organizational skills and ability to prioritize and manage multiple tasks/projects and meet deadlines.
8. Strong communication skills with the ability to organize and lead effective meetings with technical assistance recipients, funders, and federal partners.
9. Proficiency with Microsoft Office (particularly Word, Excel, and Power Point) and Adobe Acrobat.
10. Rental housing preservation experience, especially with USDA-financed housing (as lender, developer, owner or subsidy provider).
11. Advanced degree in business, finance or related field.
12. Knowledge of and experience with standard legal principles and procedures related to real estate transactions, property transfers, and collateral.
13. Experience providing technical assistance to affordable housing developers/nonprofit organizations.
14. Commitment to social justice issues.
15. Interest in rural, low-income housing.

COMPENSATION AND BENEFITS

HAC offers competitive wages, benefits, and growth opportunities consistent with industry standards. Flexible benefits packages include health insurance; life and other insurance; financial benefits, to include a retirement plan with partial employer match; time off; and work/life benefits, to include education assistance. Salary range is $85,000 to $90,000 per year, depending on qualifications.

EQUAL OPPORTUNITY EMPLOYMENT INFORMATION

HAC is an equal opportunity provider and employer. HAC does not discriminate against any applicant or employee based on race, color, sex, religion, national origin, age, disability, or any other basis protected by applicable federal, state, or local laws.