Chief Development Officer

Overview

The Palm Beach County Housing Authority (PBCHA) is seeking a Chief Development Officer (CDO). The CDO will have significant responsibility related to the development, repositioning and/or modernization of all housing for the Palm Beach County Housing Authority. The position will oversee all capital improvement programs and Capital Funds Program (CFP). The CDO is responsible for implementing and overseeing all phases of real estate development.

Tasks include but are not limited to assessing potential development sites and/or properties owned by the PBCHA, assessing and acquiring potential development sites and/or properties; budgeting and financial analysis including pro-forma development and cash flow forecasts; working with team members to secure beneficial debt and equity financing including completing financing applications and supporting financing closings; coordinating with development team members; facilitating the permitting and construction/renovation process; and overall project management. The position requires knowledge of and compliance with all applicable federal, state, local and HUD regulations, in addition to the policies and procedures of the Palm Beach County Housing Authority. The CDO will report to the Executive Director of the PBCHA.

Duties

• · Responsible for managing and coordinating multiple affordable housing transactions, including the acquisition, development, refinancing, and/or rehabilitation of affordable housing projects.
• Evaluates and acquires new affordable housing projects in Palm Beach County by obtaining public and private funding sources to include Tax Exempt Bonds, LIHTCs, HOME Funds, Community Development Block Grant (CDBG) Funds, State Apartment Incentive Loan Program (SAIL), National Housing Trust Fund, State Housing Initiatives Partnership (SHIP), Housing Choice Vouchers, Rental Assistance Demonstration, private debt and all other Federal, State and local permanent/soft financing.
• Selects development team members, including co-development partners among qualified private sector real estate development companies in the field where appropriate and necessary, as well as varying consultants, and negotiates/coordinates contracts with vendors and contractors.
• Oversees the development team that is responsible for all stages of property development including due diligence, acquisition, financing, hiring/managing consultants, securing permits/entitlements, selecting and overseeing the general contractor and architect where required, and overseeing construction.
• Track project status, coordinates meetings, track deliverables both internally and externally.
• Order and critically review third party reports for development projects.
• May assist with coordinating and assembling funding draw requests during construction for review by the Development Director, ensuring adherence to approved project budget; obtain funding approval of financial partners; oversee facilitation of funds once released to ensure timely payment/reimbursement of project costs; track interest payment deadlines during construction.
• Effectively manage team through financing closing including coordination with external parties such as lenders, investors, legal counsel, architects, contractors, third party consultants, and City, State, and Federal agencies.
• Oversight of financial modeling of prospective acquisitions including project underwriting, pro forma analysis, cost estimating, cash flow analysis, and real estate valuation.
• Secures development opportunities from outside sources such as brokers/lenders and developers; recommends new developments for acquisition.
• Review of investment strategies and analyses of tax credit investments, bond financing, HUD/FHA financing, and permanent/soft debt
• Researches and secures sources of predevelopment, construction and permanent financing.
• Develops methods of communication with residents for input into and concerns regarding modernization.
• Administers the relocation process of all residents requiring relocation because of capital improvements.
• Administers regulations and directives as required by HUD, including but not limited to Davis-Bacon wage determinations, Section 3, ADA/UFAS/Fair Housing design guidelines and Affirmative Fair Housing Marketing Plans.
• Prepares, reviews, and presents staff reports; assembles various management and information updates; reports on assigned projects and programs to the Executive Director and Board of Commissioners and prepares Resolutions for Board action
• Represents the PBCHA to other City/County departments, elected officials, and outside agencies; explains and interprets PBCHA development programs, policies, and activities; negotiates and resolves significant and controversial issues.
• Builds and maintains business relationships with organizations, lenders, banks, and equity investors.
• Participates in and attends professional group meetings; stays abreast of new trends and innovations in related fields.

KNOWLEDGE, SKILLS, AND ABILITIES:

• Knowledge of HUD economic development programs.
• Knowledge of the modern principles, practices, and techniques pertaining to management of low rent and Housing Choice Voucher programs.
• Knowledge of the relationship between PBCHA and federal, state, and local jurisdictions and their abilities to provide funds or other support to PBCHA, and PHA operating policies and procedures regarding such relationships
• Experience in overseeing all stages of affordable housing development from acquisition/predevelopment through construction and lease up.
• Experience with multi-family real estate, affordable housing, permitting, zoning, and entitlements in Palm Beach County.
• Experience with financial modeling, pro forma analysis, investor underwriting, cost estimating, and analysis of affordable housing resources.
• Extensive experience with affordable housing funding sources including Low Income Housing Tax Credits, Tax Exempt Bonds, HOME, CDBG, FHLB, and other Federal/State/Local resources.
• Experience working with tax credit investors and affordable housing lenders, including soliciting debt and equity proposals for LIHTC projects.
• Experience working with or for an affordable developer, tax credit investor, bank, or community lending institution.
• Experience working with or for a Public Agency, Housing Department, or City Government.
• Experience drafting board reports and making presentations to Board of Commissioners/City Council/County Commissioners, members of the public such as civic organizations, local planning groups, vendors/contractors/team members and PBCHA staff, on either a staff or outside presenter basis.
• Ability to analyze, interpret, and apply Federal, State, and local policies, procedures, laws, and regulations.
• Familiarity with and sensitivity to the needs of economically disadvantaged populations.
• Highly motivated and capable of independent work on multiple tasks and projects.
• Capacity to oversee staff in charge of multiple development projects.
• Principles and practices of employee supervision, including work planning, assignment, review and evaluation, and the training of staff in work procedures.
• Techniques for effectively representing the PBCHA in contacts with government agencies, community groups, and various business, professional, educational, regulatory, and legislative organizations.
• Techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and PBCHA staff.
• Ability to effectively communicate, verbally and in writing, both within the organization and externally.
• Ability to effectively prepare clear, concise letters, reports, and procedures; maintain documentation and complete required forms.
• Ability to coordinate highly skilled professional development teams including parties with diverse skills and talents, demonstrating exemplary coordination and conflict resolution skills.
• Must demonstrate competency with technology solutions and Microsoft Office Suite applications.
• Basic mathematics and the ability to read write and speak English.
• Knowledge of spoken and written Spanish preferred but not required.
• Ability to work nights, weekends or non-regular hours.

QUALIFICATIONS:

• Undergraduate degree (BA or BS), preferably in Planning, Public Policy, Engineering, Construction Management, Real Estate Development, or related field. Ideal candidates will have a master’s degree (MS, MSRED, MBA or other) in a field related to real estate development.
• Minimum five years of real estate development, planning, investment, engineering or construction management experience, preferably in an affordable housing environment. A master’s degree in a related field can be substituted for 2 years of experience depending on field of study. Project experience should include exposure to all major aspects of project development and ability to work independently on all phases of project management. Candidates should have successfully participated in 4 or more complex affordable housing financial closings (or projects of comparable scale and complexity).
• Bondable
• Valid State of FL Driver’s License
• Eligible for coverage under PBCHA fleet auto insurance

Pay: $110,000.00 - $125,000.00 per year

Benefits:

• Dependent health insurance coverage
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Work Location: In person