Community Development Banking List
09-25-2008, 09:18 AM
Original message from: lkozak@gmhf.com
SENIOR HOUSING DEVELOPMENT LENDER
Greater Minnesota Housing Fund
Saint Paul, Minnesota
Background
Greater Minnesota Housing Fund (GMHF) is a private, 501(c)(3) non-profit
organization with a mission to strengthen families and communities and
promote economic vitality throughout greater Minnesota by supporting the
creation and preservation of affordable housing. GMHF combines
short-term financing and permanent loans for single- and multi-family
housing with technical assistance to communities and developers to
promote the creation of well-planned, mixed-income and sustainable
neighborhoods and communities. GMHF integrates the production of
affordable housing with broader community development strategies and
environmentally-sustainable development practices, including green
building, sustainable land use planning, and community-based planning
assistance. As a certified community development financial institution
(CDFI), GMHF assembles financial resources and tools that support the
creation of safe, decent, healthy and affordable housing for low- and
moderate-income families and emerging market populations in greater
Minnesota.
To date, GMHF has assembled more than $100 million in grant capital and
private debt to fund affordable housing and complementary community
development initiatives. GMHF financing, combined with its planning and
technical assistance, has helped stimulate the production and
preservation of over 7,500 affordable homes in greater Minnesota. As a
result, GMHF is one of the largest non-profit affordable housing lenders
in the country and has leveraged over $839 million in total financing
for affordable housing. With $54 million in long-term assets and an
interim lending pool of over $17 million, GMHF is posed for tremendous
growth over the next several years that requires us to create a new
position within our organization as Senior Housing Development Lender.
Position Summary
This position is responsible for developing and maintaining
relationships with affordable housing developers and determining the
viability of multifamily and single-family subdivision real estate
development projects. The Senior Housing Development Lender will be
responsible for underwriting, financial structuring, due diligence, as
well as managing, servicing and helping to close new loan requests and
work directly with other professionals, including legal counsel,
developers, lenders, and representative of other agencies and
organizations in order to assess project viability and bring funded
projects to closing. This position is heavily weighted towards financial
analysis, deal structuring and resolving legal and technical issues that
requires knowledge and direct experience with affordable housing
programs and tools.
Responsibilities
* Coordination of Super Request for Proposals with Minnesota
Housing and pipeline requests for project financing;
* Work directly with the developers to determine financial
feasibility, needs of the market and all details associated with
development plan;
* Provide guidance to developer on how to best structure the
project;
* Attend meetings with the developer to discuss project;
* Assist developer with completing financing applications;
* Complete underwriting of project to ensure all GMHF requirements
are met;
* Work with developer to negotiate GMHF terms;
* Work directly with attorneys and accountants on technical
issues;
* Prepare loan summary reports to present to Loan Committee and
Board to obtain approval for the project financing;
* Coordinate closing documents with legal council;
* Assist with monitoring the construction timeline and equity
draws;
* Monitor project through closing or development build-out;
* Routine administrative tasks as needed; and
* Any and other duties, responsibilities as required by
supervisor.
Requirements
* Comprehensive understanding of GMHF and its mission;
* Masters Degree plus 7 years progressively responsible experience
in housing, finance, real estate development, or closely related field;
* Knowledge of affordable housing programs including: LIHTC,
Multifamily and Single-family subdivision real estate development
projects, preservation of federally-assisted housing and supportive
housing;
* Proven track record of guiding projects from development and
underwriting through project closing or build-out;
* Ability to effectively conduct work-outs of troubled projects;
* Ability to work independently and collaboratively;
* Must have good oral communication skills, writing and
publication skills;
* Knowledge and proficiency working with MS Office applications
such as word processing, spreadsheets, databases, and other office
software applications;
* Must be able to plan, schedule, and prioritize responsibilities.
Ability to work productively under strict time constraints (i.e., meet
deadlines). Ability to direct focus in one area while maintaining
overall outlook;
* Must have interpersonal skills necessary to deal effectively
with other staff, member groups, public/private funders, colleagues, the
general public, and low/very-low income clients; and
* Some travel (20-25%) expected in greater Minnesota.
How to Apply
GMHF is an equal opportunity employer; candidates representing a
diversity of backgrounds (race, ethnic culture, gender, age, sexual
orientation and physical abilities) are encouraged to apply. GMHF
offers a competitive salary (based upon experience) and excellent
benefits. Interested candidates should send resume & cover letter to:
Linda Kozak, lkozak@gmhf.com, GMHF, 332 Minnesota Street, Suite 1201-E,
St. Paul, MN 55101. Visit http://gmhf.com ('http://gmhf.com') <http://gmhf.com/> ('http://gmhf.com/>') .
Linda Kozak
Greater Minnesota Housing Fund
332 Minnesota Street, Suite 1201-East (Note new suite number)
Saint Paul, Minnesota 55101
p: 651.221.1997x108
f: 651.221.1904
SENIOR HOUSING DEVELOPMENT LENDER
Greater Minnesota Housing Fund
Saint Paul, Minnesota
Background
Greater Minnesota Housing Fund (GMHF) is a private, 501(c)(3) non-profit
organization with a mission to strengthen families and communities and
promote economic vitality throughout greater Minnesota by supporting the
creation and preservation of affordable housing. GMHF combines
short-term financing and permanent loans for single- and multi-family
housing with technical assistance to communities and developers to
promote the creation of well-planned, mixed-income and sustainable
neighborhoods and communities. GMHF integrates the production of
affordable housing with broader community development strategies and
environmentally-sustainable development practices, including green
building, sustainable land use planning, and community-based planning
assistance. As a certified community development financial institution
(CDFI), GMHF assembles financial resources and tools that support the
creation of safe, decent, healthy and affordable housing for low- and
moderate-income families and emerging market populations in greater
Minnesota.
To date, GMHF has assembled more than $100 million in grant capital and
private debt to fund affordable housing and complementary community
development initiatives. GMHF financing, combined with its planning and
technical assistance, has helped stimulate the production and
preservation of over 7,500 affordable homes in greater Minnesota. As a
result, GMHF is one of the largest non-profit affordable housing lenders
in the country and has leveraged over $839 million in total financing
for affordable housing. With $54 million in long-term assets and an
interim lending pool of over $17 million, GMHF is posed for tremendous
growth over the next several years that requires us to create a new
position within our organization as Senior Housing Development Lender.
Position Summary
This position is responsible for developing and maintaining
relationships with affordable housing developers and determining the
viability of multifamily and single-family subdivision real estate
development projects. The Senior Housing Development Lender will be
responsible for underwriting, financial structuring, due diligence, as
well as managing, servicing and helping to close new loan requests and
work directly with other professionals, including legal counsel,
developers, lenders, and representative of other agencies and
organizations in order to assess project viability and bring funded
projects to closing. This position is heavily weighted towards financial
analysis, deal structuring and resolving legal and technical issues that
requires knowledge and direct experience with affordable housing
programs and tools.
Responsibilities
* Coordination of Super Request for Proposals with Minnesota
Housing and pipeline requests for project financing;
* Work directly with the developers to determine financial
feasibility, needs of the market and all details associated with
development plan;
* Provide guidance to developer on how to best structure the
project;
* Attend meetings with the developer to discuss project;
* Assist developer with completing financing applications;
* Complete underwriting of project to ensure all GMHF requirements
are met;
* Work with developer to negotiate GMHF terms;
* Work directly with attorneys and accountants on technical
issues;
* Prepare loan summary reports to present to Loan Committee and
Board to obtain approval for the project financing;
* Coordinate closing documents with legal council;
* Assist with monitoring the construction timeline and equity
draws;
* Monitor project through closing or development build-out;
* Routine administrative tasks as needed; and
* Any and other duties, responsibilities as required by
supervisor.
Requirements
* Comprehensive understanding of GMHF and its mission;
* Masters Degree plus 7 years progressively responsible experience
in housing, finance, real estate development, or closely related field;
* Knowledge of affordable housing programs including: LIHTC,
Multifamily and Single-family subdivision real estate development
projects, preservation of federally-assisted housing and supportive
housing;
* Proven track record of guiding projects from development and
underwriting through project closing or build-out;
* Ability to effectively conduct work-outs of troubled projects;
* Ability to work independently and collaboratively;
* Must have good oral communication skills, writing and
publication skills;
* Knowledge and proficiency working with MS Office applications
such as word processing, spreadsheets, databases, and other office
software applications;
* Must be able to plan, schedule, and prioritize responsibilities.
Ability to work productively under strict time constraints (i.e., meet
deadlines). Ability to direct focus in one area while maintaining
overall outlook;
* Must have interpersonal skills necessary to deal effectively
with other staff, member groups, public/private funders, colleagues, the
general public, and low/very-low income clients; and
* Some travel (20-25%) expected in greater Minnesota.
How to Apply
GMHF is an equal opportunity employer; candidates representing a
diversity of backgrounds (race, ethnic culture, gender, age, sexual
orientation and physical abilities) are encouraged to apply. GMHF
offers a competitive salary (based upon experience) and excellent
benefits. Interested candidates should send resume & cover letter to:
Linda Kozak, lkozak@gmhf.com, GMHF, 332 Minnesota Street, Suite 1201-E,
St. Paul, MN 55101. Visit http://gmhf.com ('http://gmhf.com') <http://gmhf.com/> ('http://gmhf.com/>') .
Linda Kozak
Greater Minnesota Housing Fund
332 Minnesota Street, Suite 1201-East (Note new suite number)
Saint Paul, Minnesota 55101
p: 651.221.1997x108
f: 651.221.1904