NATIONAL EQUITY FUND, INC. is a leading non-profit syndicator of Low-Income Housing Tax Credits (LIHTC) with a mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. We strive to be a diverse, equitable, and inclusive place to work so that our team has the experience and knowledge to effectively support our partners and communities.
OVERVIEW
The Vice President, Project Management will primarily be responsible for managingthe due diligence, underwriting, investment recommendation, and lower tierclosing process on proposed Low Income Housing Tax Credit (LIHTC) projectinvestments. Post lower tier investment closing supports and facilitates the uppertier investment closing and project handoff to asset management. Work takes place
ESSENTIAL DUTIES
• Determine/ensure viability and sustainability of project investment over the 15-year tax credit period such that all technical review items have been resolved and/or mitigated and all real estate risks addressed.
• Negotiate partnership agreement and lead the closing process in conjunction with NEF closing Attorney. Keep NEF originator and other NEF staff updated, as necessary.
• Review all primary closing documents (including limited partnership agreement, guarantees, loan documents, tax credit allocation documents, insurance policies, construction documents, etc.) to ensure accuracy and consistency of all business terms with financial projections, underwriting assumptions, and deal approvals.Consult with SVP Project Management on substantive variance in terms.
• Coordinate with and provide support to Investor Relations in securing and closing multi-fund or proprietary investors for project investments and enhancing relationships with investors whenever possible.
• Ensure the accuracy and completeness of all lower tier investment projections, due diligence, and lower tier investment materials provided to investors, and ensure the efficacy of the process for the benefit of both the investor and the developer/sponsor.
• Participate in the establishment or modification of policies and procedures for project management incorporating multiple layers of quality control, attention to detail, consistency across project management staff, and accountability.
• Participate in the development and implementation of processes for "hand-off of the project to asset management after project closing.
• Provide assistance and support to the asset manager and/or originator post-closing as needed; relating to modification to deal structure post-closing, monitoring construction and lease-up, issues that arise processing disbursements for developer fee payment and tax credit adjusters.
• Assist the SVP Project Management in developing and implementing tools for the project management staff to ensure accountability and quality control.
Vice President, Project Management
• Other duties as assigned.
THE IDEAL CANDIDATE
• Bachelor's degree in real estate finance, economics, business, accounting, or related field (or equivalent industry-related experience)
• Bachelor's degree in Business, Planning, or related field master's preferred.
• At least 6 years of experience in underwriting and low-income housing investments.
• Strong ability to work in a team environment.
• Ability to train, manage and work in conjunction with staff at all levels.
• In-depth understanding of LIHTC investments.
• Proficient in Excel and spreadsheet modeling. Ability to learn and utilize proprietary software, SMT.
• Strong knowledge of LIHTC compliance issues.
• Exceptional transactional, writing and problem-solving skills required.
• Demonstrated supervisory skills. Ability to handle multiple tasks and prioritize to meet aggressive schedules.
• Ability to travel as needed.
ABOUT NATIONAL EQUITY FUND
National Equity Fund, Inc. (NEF) is a leading non-profit, multi-family, affordable, real estate investment manager with a mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. Through its Low-Income Housing Tax Credit (LIHTC) syndication platform and its lending and investing platforms, NEF generates opportunities rooted in its vision that all individuals and families across the country have access to stable, safe, and affordable homes.Since being founded in 1987, NEF has invested over $24.5 billion, representing 242,500 new or preserved affordable homes for individuals, families, and communities in need across the country. NEF is Chicago-based and has donated more than $240 million in grants to support its affiliate LISC's nationwide community development work. To learn more about NEF's impact, innovative financial solutions, and opportunities, visit .
We offer a competitive salary, along with a comprehensive benefits package.NEF IS AN EQUAL OPPORTUNITY EMPLOYER
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