Assistant Project Manager, Moderate Rehabilitation and Stabilization Loan Programs for the Division of Preservation Finance

Job Description

About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

- We maintain building and resident safety and health
- We create opportunities for New Yorkers through housing affordability
- We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.
________________________________________

Your Team:

The Office of Development (OOD) leads the agency’s effort to create and preserve affordable housing as a critical part of Housing Our Neighbors: A Blueprint for Housing and Homelessness in collaboration with other HPD offices as well as other city, state and federal agencies. The OOD is comprised of seven divisions that administer a range of programs. These divisions include New Construction Finance, Special Needs Housing, Building and Land Development Services (BLDS), Homeownership Opportunities and Preservation, Preservation Finance, Compliance and Enforcement and Housing Incentives.

The Division of Preservation Finance administers multiple financing programs including the Multifamily Housing Rehabilitation Loan Program (HRP), the Participation Loan Program (PLP), the Housing Preservation Opportunities Program (HPO), The Capital Partnership for Affordable Renovations Program (CPAR), the Lead Hazard Reduction and Healthy Homes HUD Multifamily Program (HUD MF), the Third Party Transfer Program (TPT), Multi-Family Preservation Loan Program (MPLP), Neighborhood Pillars Program (“Pillars”) and the LIHTC Portfolio Preservation (Year 15) Program. These programs facilitate the financial and physical viability, as well as affordability of privately-owned multi-family and single-family 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 Blueprint.

Your Impact:

The Division of Preservation Finance seeks an Assistant Project Manager for Moderate Rehabilitation and Stabilization Loan Programs. The unit develops plans, strategies, and tools for effective affordable housing preservation initiatives, as well as analyzes, negotiates, and executes on financial transactions to preserve the physical and operational integrity of existing affordable housing developments. The unit provides rehabilitation loans to multifamily affordable housing developments that cannot leverage private financing and only require financing for the replacement of major building systems to improve living conditions and preserve safe affordable housing for low- and moderate-income households in New York City.

Your Role:

In your role as Assistant Project Manager, you will be responsible for managing 2-3 City Capital projects per year through loan closing, including underwriting and completing due diligence. In addition, you will be responsible for assisting program staff in intaking and assigning new capital projects, conducting outreach, and completing due diligence for upcoming loan closings.

Your Responsibilities:

As Assistant Project Manager, you will perform duties including, but not limited to the following:

- Manage 2-3 capitally funded projects per year through loan closing, including underwriting and completing due diligence requirements
- Act as first point of contact to building owners seeking to learn more about the Moderate Rehabilitation and Stabilization Loan Programs, including monitoring project application submissions, responding to inquiries to the program’s email account and hotline and scheduling meetings with potential borrowers.
- Assist with the intake of projects applying to the Moderate Rehabilitation and Stabilization Loan Programs, including reviewing applications and collecting missing application materials, performing preliminary financial analysis and discussing the terms of HPD’s loan programs with the