This class is responsible for planning, analyzing, developing, supervising, evaluating, and implementing loan programs and maintaining and enhancing the housing community via housing programs, e.g., Low Income Housing Tax Credits, Asset Management, Preservation for Tax Credit, Housing Property Loan Management, HOME, Housing Development Fund, Tax Credit, Allocations, and Compliance, Community Development, Neighborhood Stabilization Program, Community Development Block Grant, Housing Opportunities for Persons With AIDS, HUD-CAPER, and Offender Re-entry. In addition, the class is responsible for supervising professional and administrative housing staff.
Nature and Scope
An incumbent reports to the Director of Housing Development. An incumbent is responsible for planning, analyzing, developing, supervising, evaluating, and implementing various programs for their respective area within the Housing Development Section. The Housing Development Section administers programs, e.g., multi-family mortgage assistance, housing development fund programs, rehabilitation programs, low income housing tax credit programs, Section 8 contract administration, housing compliance management, asset management, housing preservation, neighborhood stabilization programs, community development grants, HUD programs, offender re-entry, and homeless housing.
The Housing Development Section activities include processing/approving applications for loans/tax credits, underwriting loans/tax credits, monitoring/evaluating performance of lenders, developers, builders and mortgage insurers, servicing of loan portfolios which includes conducting on-site reviews to insure work conforms with specifications, initiating foreclosure proceedings, coordinating the sale of foreclosed property, assisting prospective buyers to obtain financing, negotiating with mortgage insurers and real estate brokers to insure sound investment portfolios for bond holders, analyzing performance of existing programs, reviewing/recommending new financing structures for bond issues, evaluating housing needs, monitoring economic factors/market conditions, and recommending new or modification of existing programs, policies, procedures, and guidelines to meet the needs of targeted populations.
Work involves analyzing, developing, and implementing new or revised program criteria and agency policies, programs, and procedures. An incumbent analyzes financial structuring of housing programs and real estate projects to meet state/federal requirements and financial/housing needs of low and moderate income individuals/families while also ensuring that the structures are economically feasible given current and anticipated changes in the state or national economy. An incumbent evaluates the Delaware State Housing Authority’s portfolio for multi-family mortgage programs and investment options to expand investment portfolios. A significant aspect of the work involves interaction with investment banks, bond trustees, financial advisors, bond/tax counsels, lawyers, auditors, developers, realtors, underwriters, syndicators, contractors, mortgage lenders, state and federal agencies, legislators, and the public.
Essential functions are fundamental, core functions common to all positions in the class series and are not intended to be an exhaustive list of all job duties for any one position in the class. Since class specifications are descriptive and not restrictive, incumbents can complete job duties of similar kind not specifically listed here.
Plans, analyzes, evaluates, supervises, develops, and implements various housing programs within the Housing Development Section.
Plans, assigns, reviews, and evaluates the work of subordinate staff and establishes policies, procedures, and operational changes for respective area within the Housing Development Section.
Reviews, evaluates, and analyzes proposed and newly enacted state and federal legislation and regulations to determine the impact on current programs, policies, procedures, operations as well as the need/opportunity to establish new programs, policies, and procedures.
Reviews, evaluates, and analyzes economic factors and market conditions to determine the need for new or modifying existing programs, policies, procedures, operations, and financial structures.
Develops, recommends, and implements new or revised programs, policies, procedures, and financing structures to meet financing/housing needs and ensure compliance with state and federal requirements.
Communicates with state and federal officials, mortgage lenders, realtors, underwriters, banks, bond/tax counsels, syndicators, contractors, lawyers, auditors, financial advisors, developers, bond trustees, and the public to resolve problems, explain and promote programs, develop financial bond structuring and bond sales, and negotiate the financial structure of real estate projects.
Represents the Delaware Housing Authority and the Director of Housing Development at meetings, on committees, and in negotiations with developers, syndicators, and underwriters.
Knowledge, Skills and Abilities
The intent of the listed knowledge, skills and abilities is to give a general indication of the core requirements for all positions in the class series; therefore, the KSA’s listed are not exhaustive or necessarily inclusive of the requirements of every position in the class.
Knowledge of applicable state and federal laws, rules, regulations, policies, and procedures pertaining to housing development programs and municipal bond finance.
Knowledge of the concepts, methods, and techniques of financial administration, including budget preparation, accounting, investments, audits, cash management, and financial analysis.
Knowledge of the principles and procedures of mortgage loan processing, underwriting, and servicing.
Knowledge of the principles and practices of analyzing economic issues.
Knowledge of the principles and practices of planning, developing, implementing and evaluating housing programs.
Knowledge of capital markets and debt and equity instruments.
Knowledge of the principles and practices of administrative organization and their application in problem solving.
Knowledge of the principles and practices of supervision.
Ability to plan, develop, implement and evaluate housing programs.
Ability to analyze, evaluate, develop and implement policies, procedures, operational changes.
Ability to evaluate and analyze economic, financial, legal, and legislative issues, identify problems/needs, and recommend/implement effective solutions.
Ability to communicate effectively.
Ability to establish and maintain effective working relationships with state and federal officials, mortgage lenders, realtors, underwriters, syndicators, banks, bond/tax counsel, contractors, lawyers, auditors, financial advisors, developers, bond trustees, the public and subordinates.
JOB REQUIREMENTS for Housing Development Administrator Applicants must have education, training and/or experience demonstrating competence in each of the following areas:
Three years experience in financial administration such as comprehensive analysis of programs, budgets, projects, services, alternatives, and costs; financial planning, revenue generation, revenue forecasting, expenditure forecasting, cash flow management and establishing internal control.
Three years experience in interpreting housing laws, rules and regulations.
Three years experience in mortgage loan underwriting.
Three years experience in bonds, capital markets, debt and equity instruments.
Six months experience in program administration such as overseeing and directing the development, implementation and evaluation of programs and services; planning and establishing short and long range program goals and objectives. Providing advice to other agency organizational units through consultation.
Six months experience in staff supervision of two or more employees which includes to plan, assign, review, discipline, recommend hire, promotion, termination and administer performance plans and reviews.
Six months experience in narrative report writing.