ORGANIZATION OVERVIEW
The Baltimore City Department of Housing and Community Development (DHCD) was created in 1968 to consolidate local community development efforts with housing and building code enforcement. With over 400 employees, DHCD strengthens City neighborhoods by attracting investors, developers, and homebuyers. Through the administration of Community Development Block Grant (CDBG), HOME funds, City bond funds, and other creative financing mechanisms, DHCD finances and guides strategic development projects to meet housing and neighborhood needs.
JOB DESCRIPTION
The Baltimore City Department of Housing and Community Development is seeking a Financial Analyst for our Development Division. The Financial Analyst for our Development Division is responsible for underwriting complex multi- family affordable housing projects. The incumbent reports to the Assistant Commissioner of the Development division.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Manages the City’s HOME Investment Partnerships (HOME) Program for multi-family affordable housing development projects.
Conducts complex financial analysis, determines financial feasibility, and underwrites and assesses affordable housing development proposals and develop written and oral funding recommendations for loans and other financial assistance.
Reviews applications of housing developers for loans and other financial assistance. Reviews construction budgets, project plans, appraisals, inspection reports and other real estate documents.
Coordinates with City, State, and Federal agencies and private financial institutions to provide loans, mortgages and financing for new construction and/or renovation of residential multi-family and other community development projects.
Prepares Board of Estimates recommendations on financial assistance, including loans and PILOTs, and manages the City approval process.
KNOWLEDGE SKILLS AND ABILITIES
Knowledge of underwriting multifamily affordable housing projects with public subsidy including Low-Income Housing Tax Credits (LIHTC).
Knowledge of the industry practices for construction and permanent financing of multi-family housing.
Knowledge of complex deal structures and financial analysis of budgets proforma modeling using Microsoft Excel.
Ability to communicate effectively both orally and in writing.
REQUIRED QUALIFICATIONS
Education and Training: Have a bachelor’s degree in business administration, Accounting, Public Administration, Management, Finance or related field from an accredited college or university.
Work Related Experience: Have minimum two (2) -three (3) years of experience in commercial or multi-family real estate finance or development.
Equivalencies: Have an equivalent combination of education and experience.
BENEFITS
Medical, dental, vision benefits and time-off offered.
TIMELINE AND COMPENSATION
Length of role: 1 year
Salary: $80,000
This role will be hybrid…..with Return to In-Person Work policy in 2024