POSITION SUMMMARY
The Associate Project Developer provides technical and administrative support to the project development staff. This position is geared toward individuals interested in a career in affordable housing development and possess skills enabling them to participate in a variety of development department activities. Must have prior experience in affordable housing development such as a Project Administrator I & II, or an applicable graduate degree.
Supervisor or project leader provides frequent input and direction to the Associate Project Developer on all tasks.
ESSENTIAL DUTIES AND RESPONSIBILITIES
With direct oversight from project leader:
Project Management
- Support preparing and review predevelopment draws for internal and external funding sources
- Review design sets for meeting the design program and Conditions of Approval and manage internal review and feedback of design sets
- Work with PNA consultant on Physical Needs Analysis that meets the project’s needs
- Work with the relocation consultant to develop, optimize, and implement the relocation plan
- Facilitate consultant’s site visits and requests
- Prepare contracts and manage post-contract compliance, including contractor insurance renewals, change orders, and budget tracking
- Review pay applications and prepare loan draw requests
- Represent the owner’s interest at construction meetings and coordinate with the owner’s construction manager
- Coordinate relocation schedules, rehab logistics, and fumigation / remediation schedules as applicable
Build Support & Obtain Approvals
Internal Stakeholders
- Attend internal project strategy meetings and take notes, including Milestone / Deep Dive and Watchlist meetings
- Draft portions of the narrative or update earlier drafts for Milestone / Deep Dive meetings
- Track decisions made and decisions pending, and coordinate interdepartmentally on application materials
External Stakeholders
- As requested, attend local government and community meetings
- Research and synthesize background materials of concern to external stakeholders
- Draft updates and communications with external stakeholders and track contacts
- Document external meetings
- Oversee/lead mass mailing efforts
- Promote the Eden brand and mission
JV Partners, If Applicable
- Attend coordination meetings with JV partners and take notes
- Track decisions made and decisions pending, and coordinate with the JV partner on application materials
- Review draft MOU and flag issues, propose amendments as needed
- Maintain documentation of meetings, agreements, and decisions
- Coordinate draws and jointly managed funding sources
Planning Entitlements
- Draft portions of planning and building permit applications
- Drive coordination among consultants to complete planning and building permit submittals
- Draft responses to CEQA/NEPA requests
- Track Conditions of Approval and, as delegated, lead the efforts to meet some of them
Eden (& Affiliates) Board(s)
- Draft Board memos
- Initiate requests for draft resolutions and draft documents from outside counsel and review for consistency. Flag any issues to discuss.
- After Board approvals secured, file approvals in project folder; and have entity formation and financing documents in final form executed and file in project folder and perm docs
- For entity formations, work with accounting to ensure the LLC12 is filed
External Relations
- Support groundbreaking and opening events
- Draft project-related materials for communications team
- Maintain contact lists and records of interactions
- Research external stakeholders
- Flag any potential external relations issues to supervisor and, as appropriate, elevate to senior staff
- As requested, draft materials for responding to media and/or external relations issues
- Document and maintain file on external relations
Financial & Programmatic Feasibility Analysis
Feasibility for tax credits, tax exempt bonds, and competitive financing applications
- Propose alternative strategies for meeting threshold requirements and submitting competitive applications for financing sources
- Provide direction to the financial consultant regarding the rent matrix and operating budget after working with internal stakeholders to develop the budget
- Obtain, review, and provide recommendations regarding consultant proposals and input into the development budget
Programmatic feasibility analysis
- Develop recommendations for how to meet our supportive services, amenities, and design commitments to be provided as conditions of financing
- Provide feedback and propose alternatives, including cost-benefit analysis, after review of architectural and engineering strategies to meet programmatic requirements
- Work with consultants and provide recommendations on draft CEQA mitigations, and conditions of approval for entitlements and building permits
Continuous improvement process
- Work with construction manager to create and track a budget for and facilitate resolution to post-occupancy physical issues and formulate recommendations to change design standards and processes/ procedures as needed
- Suggest potential future changes to regulatory requirements that would strengthen and improve the program(s) that we are using to finance our projects
- Participate in implementation of internal process changes to improve efficiency at responding to funding opportunities and improving application quality control
Secure Sources of Financing
Financing Strategy
- Suggest financing options with understanding of their implications for the development
Feasibility for tax credits, tax exempt bonds, and competitive financing applications
- Suggest workplan and schedule for internal and external parties for completing application(s)
- Work with project leader to create checklists and track completion of the application as well as compliance with threshold and competitive scoring requirements, and quality control process
- Writing narratives; compiling required attachments; inputting qualitative data, rent matrix, and operating budget; and drafting responses to queries from program administrators
- Review draft commitment letters and loan documents for adherence to negotiated terms
- Track compliance with requirements in gap financing and voucher commitments and draft compliance reporting
Capital Markets Private Financing
- Draft assigned portions of the capital markets Request for Proposals
- Manage the response to due diligence requests
- Review draft debt and equity documents for adherence to negotiated terms in commitment letters / term sheets, flag issues for supervisor
Escrow and Draw Process
- Assist in and track loan closing process
- Lead response to due diligence requests
- Coordinate execution and notary of closing documents
- Compile escrow predevelopment draw and invoices to be paid through escrow
- Work with outside counsel to draft borrower escrow instructions and review escrow instructions from other entities
- Draft title documents, such as FIRPTA, PCOR, Owner Affidavit, and Gap Indemnity
- Request payoff demands and work with accounting on funds transfers into escrow
- Draft buyer and seller settlement statements and update iterations with title company
- Assist in drafting internal Milestone / Deep Dive Closing memo
- Assist in drafting Board approval memos for closing construction financing
- Set up d/b/a’s and work with accounting to set up accounts and obtain wiring information
- Maintain construction dashboard, PCO and CO signature process, and pay application signature process
Conversion and Placed in Service Process
- Assist in and track conversion process, including response to due diligence requests
- Lead compliance and close-out documentation for final retention draw payable to General Contractor, construction loan, residual receipts loans, and limited partner equity installment(s)
- Coordinate execution and notary of conversion documents
- Work with outside counsel to draft borrower escrow instructions and review escrow instructions from other entities
- Gather invoices to be paid through escrow
- Draft title documents, such as FIRPTA, PCOR, Owner Affidavit, and Gap Indemnity
- Request payoff demands and work with accounting on funds transfers into escrow
- Work with accounting to set up accounts and obtain wiring information and transfer of borrower funds into escrow
- Draft buyer and seller settlement statements and update iterations with title company
- Assist in drafting internal Milestone / Deep Dive Conversion memo
- Coordinate any post-conversion requirements
- Work with asset and property management to update rent matrix and operating budgets
- Draft auditor lease-up and temporary relocation schedule for review in consultation with property management and relocation consultant, if applicable
- Review initial draft of cost cert workbook and coordinate review with financial consultant, flag potential issues to be resolved
- Discuss with senior staff any potential downward adjustor and mitigants
- Discuss with senior staff if sources and uses a conversion will be out of balance and strategy to bring them into balance and any impacts on developer fee and operating cash flow payable to Eden
- Coordinate placed-in-service documentation process and gather third-party documentation, site photos, and update qualitative section, rent roll, and operating budget of placed in service application
- Review placed-in-service e-application, finalized cost cert, Form B submittal, and investor letter for any potential mismatches and flag for follow-up
- Draft responses to queries from TCAC, CDLAC, gap financing sources
Professional Development & Department Infrastructure
- Assist with brown bag trainings series
- Manage discrete tasks across multiple projects, such as energy efficiency and renewable energy implementation, solar and energy efficiency rebates and incentives, and utility interconnections
- Participate in internal and external professional development and infrastructure-building opportunities
- Complete other tasks as assigned
SUPERVISORY RESPONSIBILITIES
This job has no supervisory responsibilities.
MUST BE FULLY VACCINATED.
Other details
- Job Family Real Estate Development
- Pay Type Hourly
- Min Hiring Rate $35.64
- Max Hiring Rate $41.58
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