Grants Administrator, Conduit Finance

ORGANIZATION DESCRIPTION:

Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. We achieve our mission through a diverse range of financing products, real estate solutions, and business support services. You can learn more about PIDC at pidcphila.com.

PIDC is committed to driving transformative growth for Philadelphians with a human-centered approach by directing our financial and real estate services, knowledge, and networks toward creating a vibrant and sustainable Philadelphia. To achieve this mission, PIDC focuses on five areas:

• CAPACITY: Create and sustain internal capacity and external partnerships to scale the availability and breadth of economic development resources to clients.
• CAPITAL ACCESS AND SERVICES: Expand financing and business support services to benefit communities that have difficulty accessing capital.
• LAND USE: Catalyze development of projects that create quality jobs and advance economic growth.
• KNOWLEDGE AND NETWORKS: Share knowledge and networks to respond to clients, partners, and market needs.
• EMPLOYEE WELL-BEING: Elevate the physical, mental, and financial well-being of PIDC employees and provide opportunity for each to thrive and grow professionally.

PIDC is governed by a thirty-member Board of Directors, appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce. The staff includes approximately 60 full-time employees, and PIDC’s current 12-member senior leadership team has a combined 150+ years of experience at PIDC. The organization’s annual budget of approximately $12M is funded by a combination from fees generated by PIDC’s transaction activities, service and management contracts, and contributed revenue.

Over the past 65+ years, PIDC has settled over 13,500 transactions with a diverse range of clients — including nearly $21 billion of financing and 3,400+ acres of land sales — which have leveraged tens of billions of dollars in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia.

PIDC’s Conduit Services Team administers a variety of financial products that include tax-exempt and bond finance, publicly funded grant programs including the Commonwealth of Pennsylvania’s Redevelopment Assistance Capital Program, the Local Share Account grants, the Philadelphia Water Department’s stormwater management grants, and various City of Philadelphia capital grants. Recent annual volumes for PIDC’s conduit financing products total approximately 15-20 transactions for $750mm - $1b in tax-exempt financing and 20-60 transactions for $25mm - $75mm in combined grant funding.

Position Summary:

The Grants Administrator is responsible for all aspects of delivering RACP, LSA, PWD, and other grant products in a timely and professional manner and managing client relationships, including connecting clients and projects to other PIDC products and services.

This role will develop and manage strategic relationships with respect to specific conduit funding sources, structuring transactions to meet client needs and helping them to complete funding source requirements. This position is also responsible for managing data on the pipeline of activities and the status of applicants and approved projects.

POSITION RESPONSIBILITIES - Specific responsibilities include, but are not limited to the following:

Grant Program Management:

• Maintain detailed knowledge of each program in order to structure transactions for the client’s benefit consistent with funding source requirements.
• Develop and manage strategic relationships with respect to each conduit-funding source, including application submission, approvals, documentation, source contract administration, government relations, disbursement, compliance, and all other contractual obligations.

Business Development:

• Maintain relationships with key intermediaries and referral partners, such as financial advisors, bankers, and consultants.
• Connect conduit services clients and projects to other PIDC lending and real estate resources to drive new business opportunities.

Applications & Approvals:

• Work with project applicants to evaluate their project scope, schedule, budget, financial structure, and development team, consistent with source funding requirements.
• Manage inquiries and the pipeline of applications, assisting clients and their consultants through the application and approval process for the respective conduit-funding source on a timely, accurate, and professional basis.

Administration & Compliance

• Manage closing and approval to ensure proper documentation of the transaction and integration into PIDC’s Salesforce, Laserfiche, and Portfol systems
• Manage Conduit Service’s Salesforce capabilities to ensure real-time reporting is available for senior management.
• Ensure Salesforce and related technology systems are optimized for data collection, reporting, and user experience by reporting needs to the Information Technology team.
• Work with grantees and grant source’s professional team to ensure grantees’ compliance with conduit funding source requirements.

Qualifications and Experience:

• Bachelor’s degree in finance, economics, business administration, urban planning, or a related field; graduate degree a plus.
• At least 3 years of progressively responsible experience in grant administration, public finance, or economic development; 5+ years preferred.
• Prior experience with state or local grant programs is a plus.
• Capacity and desire to function in a high-profile, public/private partnership environment. Ability to assess situations and translate them into action plans to assure clients adhere to all requirements under grant programs.
• Effective interpersonal skills, including a demonstrated ability to communicate effectively with management, colleagues, governmental agencies, the real estate marketplace, and the public.
• Superior proficiency with Microsoft Office Suite programs, database management, and social media.
• Demonstrate leadership skills and the ability to build collaborative relationships with colleagues and partners in government agencies and the ability to function as part of a larger team.
• Excellent skills in managing multiple projects simultaneously, requiring strong attention to detail.
• Must be adept at taking initiative and pursuing program goals with minimal supervision.
• Resident of the City of Philadelphia or willing to relocate within six months of employment.

COMPENSATION:

• Salary Range: $64,200 - $77,000