Job Type

Full Time

Salary

Details: Salary is commensurate with experience.

Published

10/02/2018

Application Deadline

11/17/2018

Address

18 Tremont Street, Suite 500
Boston
MA
02108
United States

Description

The Community Economic Development Assistance Corporation (CEDAC) seeks a Senior Project Manager to join our housing team. CEDAC is a publicly-created community development finance institution (CDFI) that serves as a vital financial and technical assistance resource to nonprofit organizations engaged in effective community development. We provide financial resources and technical expertise for community-based and other nonprofit organizations building thriving communities. Our work supports three key building blocks of community development: affordable housing, workforce development, and early care and education.


CEDAC provides pre-development loans and technical assistance to nonprofit developers and tenant associations involved in affordable housing development across Massachusetts. We work closely with other Massachusetts and national partners to support affordable housing production and preservation. CEDAC staff performs the underwriting activities for supportive housing loan programs for the Massachusetts Department of Housing and Community Development (DHCD), the Massachusetts Rehabilitation Commission (MRC), Department of Mental Health, Department of Developmental Services, and the Home Funders Collaborative. We manage the Children’s Investment Fund.

                                                                                                    

Project Management at CEDAC

The Senior Project Manager at CEDAC is a pre-development lender and technical assistance provider. They are expected to work collaboratively with our borrowers and to provide support and technical assistance with a strong customer service focus. The Senior Project Manager facilitates the successful management of all phases of the real estate development process. They provide advice to clients during development and manage the predevelopment and acquisition loan process from underwriting to disbursement. They also work with clients to achieve successful project completion by helping to secure additional resources as needed. The Senior Project Manager reports to CEDAC’s Executive Director.


Specific responsibilities include:


Predevelopment and Acquisition Lending

·        Evaluate predevelopment and acquisition loan requests, prepare financial analysis, and make recommendations to the Board.

·        Prepare financial analysis of borrowers in connection with underwriting predevelopment and acquisition loan requests. Communicate and problem solve with borrowers to address any questions and concerns resulting from analysis.

·        Perform internal loan management functions including: project monitoring and reporting, requisition review and approval, and assessing loan loss risk.

 

Deferred Payment Loan Underwriting and Closing

·        Underwrite loan request from borrowers and prepare analysis and recommendations for DHCD.

·        Manage the loan closing and disbursement process.

·        Perform loan management functions in conjunction with counterparts at DHCD including monitoring project progress, loan status, and compliance with terms and conditions.

·        Review and approve borrower requisition requests and prepare reporting documents as necessary.

 

Technical Assistance and Borrower Support

·        Provide development technical assistance to clients as may be required including assistance to identify project development opportunities, strategic thinking and planning, and help with site acquisition.

·        Assist with the preparation of financing applications and assembling and managing the real estate development team.

 

Outreach and Marketing

·        Market CEDAC loan products and technical assistance services as requested at conferences and meetings.

·        Maintain strong relationships with borrowers including marketing CEDAC’s loan products and technical assistance to current borrowers and reaching out to potential clients particularly in underserved areas of the state.


Program and Policy Development

·        Remain current with changes in the housing and community development industries related to law, policy, and regulations affecting the availability of affordable housing financing.

·        Represent CEDAC as requested in state policy and program development discussions.


CEDAC Operations and Management

·        Attend program, department, and agency-wide meetings to foster communication and collaboration.

·        Perform other duties as required.


Our Ideal Candidate

Our ideal candidate has direct non-profit real estate development experience. They are a self-starter with demonstrated leadership in affordable housing development and/or managing and implementing housing and community development policies and financing programs. The ideal Senior Project Manager will be motivated by the opportunity to support nonprofit developers and tenants’ associations. They will have an entrepreneurial spirit and possess many of the following technical skills and qualifications:


·        At least seven years of experience in real estate financial analysis and/or development.

·        Previous senior level development experience in community-based or non-profit development organization or public development finance agency.

·        In-depth understanding of public and private real estate subsidy and financing programs for affordable and supportive housing, preferably in Massachusetts.

·        Familiarity with legal, financial, design and construction, marketing, leasing, and sales aspects of development.

·        Excellent written and verbal communications skills. 

·        Demonstrable ability to complete financial analysis on the computer and use technology well.

·        Comfort working simultaneously on multiple projects and programs.

·        Minimum of a Bachelor’s degree required with a Master’s Degree in city planning, real estate or a related field strongly preferred.

 


Benefits

CEDAC offers an excellent benefit package.

Professional Level

None specified

Minimum Education Required

No requirement

How To Apply

careers@cedac.org
http://cedac.org

The Selection Process

Please submit a cover letter, detailing your salary requirements and your particular qualifications for this position, along with a resume to careers@cedac.org. Please put Senior Project Manager 2018 in the subject of the email. No phone calls or letters please.


Applications will be reviewed and acknowledged as they are received. We seek to fill this position by late 2018, if not before.


CEDAC is an Equal Opportunity and Affirmative Action Employer. We encourage applications from candidates from diverse backgrounds and cultures. 


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