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Tax Credit Analyst - Housing Program Specialist III
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Official Title: Housing Program Specialist III
Functional Title: Tax Credit Analyst
Primary Location: United States-Massachusetts-Boston-100 Cambridge Street
Job: Community and Social Services
Agency: Department of Housing & Community Development
Job Posting: May 20, 2019, 2:12:55 PM
Number of Openings: 1
Salary: 62,530.26 - 90,570.48 Yearly
Bargaining Unit: 06-NAGE - Professional Admin.
Participate in multiple facets of the affordable rental/homeownership funding process at DHCD; provide technical assistance to developers before and after funding applications are submitted; participate in meetings with developers and community officials to structure projects; conduct site visits; serve as primary reviewer for all tax credit funding applications assigned to his/her for review; complete all aspects of application review, including highly technical analysis of project feasibility and conformance with Internal Revenue Service regulations for programs; help prepare funding recommendations for the Associate Director and Director; review developer information submitted in support of various IRS tests and project deadlines; work with internal and developers’ counsel to facilitate recording of tax credit regulatory agreements; track all tax credit allocations year-to-year and prepare required IRS and DOR reports; serve as staff person working on all aspects of Massachusetts state tax credit program; work with certified public accountants and other tax credit professionals; participate in various aspects of compliance and asset management of existing projects; participate in refinancing and sales of existing projects.
DETAILED STATEMENT OF DUTIES AND RESPONSIBILITIES (these duties are a general summary and not all inclusive):
- Serve as the primary reviewer and underwriter for tax credit pre-applications and full applications, including HDIP applications.
- Help prepare funding recommendations for the Associate Director and Undersecretary.
- Chair/participate in business meetings with other lenders, developers and their representatives.
- As assigned, coordinate MassDocs loan closing with outside counsel and other lenders.
- Coordinate tax credit tasks for assigned projects, including reviewing carryover documentation, preparing binding commitments, reviewing tax credit regulatory agreements, preparing eligibility statements, and reviewing draft 8609 documents.
- Monitor and/or coordinate construction review with contract architect.
- Track project construction progress and review lender advisor reports on a monthly basis.
- Conduct site visits and on-going project reviews, including project eligibility letter (PEL) requests.
- Review/approve project cost certifications and close out reports.
- Provide direct technical assistance to project sponsors/borrowers/other team members (attorneys, architects, CPAs, contractors, etc.) through meetings, phone calls, correspondence.
- Review/analyze refinance or loan modification requests and coordinate DHCD-related transaction tasks.
- Coordinate/negotiate project workouts.
- Assist in meeting various federal and state funding requirements such as: carefully tracking program usage, preparing annual IRS/DOR/NCSHA reports, including the 8610 submission, preparing and finalizing the Qualified Allocation Plan and assisting in the collection of Program information for submittal to stakeholders, including other executive offices and/or the legislature.
- Assist in the training of new junior program staff or new staff.
- Maintain current project and program information division’s rental database, shared drives and file storage.
- Represent the division and the agency on inter- and intra-agency working groups.
- Assist in preparing public presentations on agency policies and programs.
- Represent the agency at various housing related events.
- Assist in the preparation of detailed reports on the programs, as required by federal and state legislative committees and as needed for federal and state reporting purposes.
- Assist in the drafting of new/revised guidelines, application materials, training materials, and website information.
- As assigned, assume role of team leader, on tasks, such as compliance monitoring and/or asset management coordination and maintaining/updating program policies and procedures.
- Submit weekly schedule and list of tasks planned for the week.
- Other duties as assigned.
- Knowledge of the principles and practices of real estate financing.
- Knowledge of the principles and practices of real estate asset management and/or compliance monitoring.
- Detailed knowledge of the Low Income Housing Tax Credit program.
- Knowledge of federal, state and local resources to support the development of affordable housing, including permanent, transitional and special needs housing.
- Ability to understand, explain and apply complex laws, regulations, guidelines and procedures regarding affordable housing programs.
- Knowledge of principles and practices of affordable and market rate housing and factors influencing the housing market.
- Ability to analyze development and operating pro formas.
- Ability to analyze development project cost certifications.
- Knowledge of legal terminology and requirements of the real estate loan closing process.
- Ability to analyze and determine the applicability of verbal, written and statistical information to a particular housing issue, policy or program.
- Ability to communicate effectively and timely in written and oral expression, including the ability to make public presentations to different audiences.
- Ability to work independently and within a team, and to take initiative while understanding/respecting boundaries.
- Ability to work efficiently and effectively, gather information, draw conclusions and make recommendations related to the Program activities/guidelines/policies.
- Ability to manage a variety of tasks, organize workload and meet required deadlines.
- Ability to assume a leadership role in a team setting and to facilitate group participation/process.
- Knowledge of effective techniques for motivating staff and overseeing specific team projects/activities/initiatives.
- Ability to adjust cheerfully to changing priorities and to carry substantial responsibilities related to the Programs and to initiatives within the division.
- Excellent computer skills, including MS Excel, Word, and Power Point.
- Demonstrated sound judgement.
- A Master’s Degree in a related field.
The Department of Housing and Community Development (DHCD) is within the Housing and Economic Development Secretariat and its work touches the lives of all Massachusetts residents. DHCD's mission is to strengthen cities, towns and neighborhoods to enhance the quality of life of Massachusetts residents by providing leadership, professional assistance and financial resources to promote safe, decent, affordable housing opportunities, economic vitality of communities and sound municipal management.
Please upload resume and cover letter.
Salary placement is determined by years of experience and education directly related to the position and the Human Resources Division’s Recruiting Guidelines. In the case of a promotional opportunity, the salary provisions of the applicable collective bargaining agreement will apply to placement within the salary range.
Education, licensure and certifications will be verified in accordance with the Human Resources Division’s Hiring Guidelines. Education and license/certification information provided by the selected candidate(s) is subject to the Massachusetts Public Records Law and may be published on the Commonwealth’s website.
First consideration will be given to those applicants that apply within the first 14 days (by 06/03/19).
Minimum Entrance Requirements:
Applicants must have at least (A) four years of full-time, or equivalent part-time, professional experience in real estate management, property management, public housing program management, public housing program development or public housing program administration, or (B) any equivalent combination of the required experience and the substitutions below.
I. An Associate's degree with a major in real estate, public administration, business administration or business management may be substituted for a maximum of one year of the required experience.*
II. A Bachelor's degree with a major in real estate, public administration, business administration or business management may be substituted for a maximum of two years of the required experience.*
III. A Master's or higher degree with a major in public administration, business administration or business management may be substituted for a maximum of three years of the required experience.*
*Education toward such a degree will be prorated on the basis of the proportion of the requirements actually completed.
Special Requirements: Based on assignment, possession of a current and valid Massachusetts Motor Vehicle Operator's License may be required.
If you have Diversity, Affirmative Action or Equal Employment Opportunity questions or need a Reasonable Accommodation, please contact Diversity Officer / ADA Coordinator: Nancy DePaul - 617-573-1100
An Equal Opportunity / Affirmative Action Employer. Females, minorities, veterans, and persons with disabilities are strongly encouraged to apply.
HOW TO APPLY
Create profile online and apply at https://massanf.taleo.net/careersection/ex/jobdetail.ftl?job=190004AJ
- Job ID
- Job Title
- Tax Credit Analyst - Housing Program Specialist III
- Application Deadline
- Salary Range
- no minimum salary specified - no maximum salary specified
- Job Major Category
- Job Posting
- Job Location
- Boston, MA