Director of Capital Investments, Multifamily Rental Housing
City of Seattle, Seattle, WA, United States
Seattle’s Office of Housing (OH) works to build strong, healthy communities and increase opportunities for all people to live in a community of their choice, in a home they can afford. OH invests in the production and preservation of affordable homes for people with low-incomes, including individuals and families who are exiting homelessness. The Office also assists low-income homeowners with home repair loans and weatherization grants so they can safely remain in their homes and neighborhoods.
We are looking for a Director of Capital Investments, Multifamily Rental Housing to supervise and lead the Capital Investments unit, coordinate with other units (including Planning & Policy, Asset Management, and Finance and Administration), and contribute your project management skills as an active member of the Senior Leadership Team.
The top 3 priorities of this work are:
- Overseeing and administering funding for rental production and preservation, aligning OH funding with other opportunities to maximize affordable housing opportunities:
- Coordinating policy, finance, and funding decision issues with other funders, including public agencies, private lenders and intermediary organizations
- Collaborating with other public and private funders to align capital, services, and operating funding and securing new resources for homeless and other housing projects
- Analyzing project development issues from the nonprofit developer perspective
- Fostering collaborative approaches to involve partners in program administration
- Providing technical advice to nonprofit organizations and others seeking help in developing, preserving, and supporting affordable housing
- Managing HOME program administration, including compliance with program and policy requirements and reporting
- Underwriting standards and analyses
- Assignment of fund sources to projects consistent with policies
- Ensuring timely loan and supplemental loan closings
- Monitoring accuracy of development draws
- Facilitating close-outs of projects
- Project operations coordination with asset management staff
- Monitoring fund sources and ensuring accurate reporting of project data
- Fostering equitable development strategies and actions to address racial and social justice issues at the program and project level
- Supervising 4 to 5 senior-level staff and promoting professional development of the OH Capital Investment team for high performance and collaborative results
- Working with unit staff to create and maintain consistent project review and development procedures while maintaining flexibility to respond to unique project issues
- Working collaboratively with staff from other City Offices and Departments on issues of joint concern
- Developing and implementing stabilization and preservation strategies for affordable housing
- Overseeing implementation of competitive Request for Funding processes for public investment in affordable housing
You will be most successful if you have demonstrated experience in affordable housing finance and development. A commitment to listening, creating space for diverse perspectives, and the pursuit of affordable housing for all must be at the center of your professional practice. The ability to communicate at all levels tactfully and effectively will also contribute to your success. Specifically, you’ll be prepared to take on this role with a combination of the following:
Knowledge of:
- Affordable housing finance, including public funding, private investment, Low Income Housing Tax Credit, and bond financing
- Federal housing program regulations, in particular HOME Program and Tax Credit Program guidelines
- Real Estate developmental processes
- Asset Management issues as they apply to lending decisions and affect operations of affordable housing
- Community and economic development principles
Experience in:
- Underwriting principle and lending practices
- Working with marginalized communities
- Supervising knowledgeable and experienced staff with a human-centered approach, providing thoughtful feedback and coaching for staff development
- Negotiation, particularly complex, financing, or real estate transactions
- Managing projects with limited supervision
- Database management systems
The ability to:
- Demonstrate excellent oral and written communication skills, including the ability to represent the department in public forums
- Promote employee learning and development
- Work in diverse communities and conduct effective outreach based on authentic relationship development
- Identify and address race-based disparities
- Find new approaches and creative solutions to affordable housing issues
- Be creative and adapt to rapid changes in economic environments
In addition to:
- Ability to pass a criminal background check
The fields of housing development and lending have often failed to reflect the experiences and identities of people affected by development decisions and outcomes, including Black, Indigenous, People of Color, Immigrants, Refugees, People with Disabilities, and LGBTQ+ people. We strongly encourage people with these identities or from other marginalized communities to apply.
This Civil-Service position is FLSA-exempt (not eligible for overtime). It is classified as a Manager 3, Human Services. The full pay range for this discretionary pay position is $57.45 - $86.16 per hour. These hourly rates are reflective of the 2024 salary schedule. There is a 4% AWI (Annual Wage Increase) for 2025. The 2025 salary for this individual role has been identified as $83.30 hourly ($173,930.40 Annually, based on 2088 hours per year).
First round interviews for this position are tentatively scheduled for Wednesday, January 22 and/or Thursday, January 23, 2025. Second interviews are scheduled for Thursday, January 30, 2025.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact Lindsey King at Lindsey.King@seattle.gov to request accommodation.
This position offers the flexibility of a hybrid work schedule. Employees of the Office of Housing are expected to be in-office 3 days per week, with Tuesdays being a required in-office day. Individual schedules will be based on agreement between the employee and their supervisor.
Individuals selected to fill this position may be eligible to receive Language Premium Pay (SMC 4.20.360), which provides a $200.00 monthly stipend to qualified bilingual employees who are properly evaluated and assigned to provide direct communication in-language, interpretation, or translation services to the public on behalf of the City of Seattle.
As this position has access to personal identity information, job offers are contingent on review of criminal history as well as verification of information provided by the applicant as part of the application process. In compliance with Seattle's Fair Chance Employment Ordinance, SMC 14.17 applicants will be provided an opportunity to explain or correct background information.
The City of Seattle recognizes every City employee must play a role in ending institutional and structural racism. Our culture is the result of our behavior, our personal commitments, and the ways we courageously share our perspectives and encourage others to do the same. To cultivate an antiracist culture, we seek employees who will engage in the Race and Social Justice Initiative by working to dismantle racist policies and procedures, unlearn the way things have always been done, and provide equitable processes and services.
The City of Seattle offers a comprehensive benefits package including vacation, holiday, and sick leave as well as medical, dental, vision, life and long-term disability insurance for employees and their dependents. More information about employee benefits is available on the City's website at: https://www.seattle.gov/human-resources/benefits/employees-and-covered-family-members/most-employees-plans.
APPLICATION PROCESS:
Please submit your application at https://www.governmentjobs.com/careers/seattle/ no later than 4:00pm Pacific Time on Tuesday, January 7, 2025. To be considered for this position, in addition to completing your application fully, please attach:
- A PDF of your current resume which illustrates your related skills, experience, and abilities
- Cover Letter explaining your interest in this opportunity with the Office of Housing and capability to perform in this role
This position is open to all applicants who demonstrate alignment with the skills and experience described above. The City of Seattle values diverse perspectives and life experiences. Applicants will be considered regardless of race, color, creed, national origin, ancestry, sex, marital status, disability, religious or political affiliation, age, sexual orientation, medical condition, or pregnancy. The City of Seattle encourages people of all backgrounds to apply, including people of color, immigrants, refugees, women, LGBTQ, people with disabilities, veterans, and those with diverse life experiences. If you have questions please contact Lindsey King at Lindsey.King@seattle.gov.
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