Development Officer

Characteristics of the Class: Under general direction, and reporting to the Director of Development, the Development Officer performs complex professional work of considerable difficulty managing HACLA’s real estate portfolio, including development, redevelopment, repositioning of assets, acquisition, and other related duties as required. 
 
The Development Officer works independently to lead a development team relying on staff, third party consultants and development partners to source and evaluate development opportunities, negotiate the repositioning of assets, acquisition and rehabilitation of new assets, and redevelopment of large, complex public housing sites, among other projects. The Development Officer is responsible for securing public and private financing. Additionally, the incumbent will lead the underwriting and negotiate terms for purchase agreements, development contracts, property and ground leases and complex financing documents related to real estate transactions. The position manages projects from predevelopment through lease up and will work closely with the City, State, HUD and other regulatory bodies on entitlements, underwriting, reporting, environmental review, relocation and other obligations.

From a community perspective, the incumbent will help organize and lead community outreach efforts and facilitate stakeholder communications related to any projects they lead to garner support and input as well as provide important information.

Example of Duties

Examples of Essential Functions:

• Oversight and management of complex real estate projects which includes affordable and market-rate housing acquisitions, development, and rehabilitation programs and operations; major public infrastructure projects; and mixed use, mixed income development.
• Participates in the development of departmental policy and procedures; recommends, and assists with the implementation of, policies and procedures in assigned activities.
• Prepares scopes of work, Requests for Proposals, Requests for Qualifications and other related documents with respect to development projects; coordinates and organizes documents related to the procurement process and leads a team that reviews, analyzes and evaluates development solicitation proposals received in response to such procurements; and analyzes and manages the resulting services contracts, schedules and budgets. 
• Directs and manages master planning, CEQA and NEPA processes for large redevelopment projects; coordinates with third party consultants, resident and community organizations, and project partners on the preparation of planning documents according to project schedules.
• Identifies and develops project acquisition and funding opportunities; and feasibility analyses of new acquisition and development projects.
• Negotiates, reviews, interprets, and guides execution of development-related agreements, including ground leases, joint development agreements, exclusive negotiation agreements, reciprocal easement agreements, and covenants; helps resolve legal, contractual, and technical issues by working with internal and outside counsel on such agreements.
• Analyzes and interprets real estate appraisals, development proformas, project budgets, and other financial information related to development projects and uses such analysis and interpretation to inform development related agreements, including working with financial consultants to complete review and negotiation.
• Guides the development and implementation of Development Services goals, objectives, policies, budgets and priorities for assigned portfolio; recommends appropriate service and staffing levels; allocates resources accordingly.
• Reviews, monitors and evaluates the effectiveness and efficiency of programs and services methods and procedures; supervises and coordinates activities of staff; consults with and assists various HACLA officials and agency representatives in the resolution of problems; makes recommendations or takes corrective action as appropriate.
• Coordinates development activities with HACLA departments, outside agencies and organizations, including legal counsel; provides staff assistance to the Chief Strategic Development Officer; prepares and may present reports, updates, and other necessary communications.
• Attends, participates and may present at professional meetings and conferences; stays abreast of new trends and innovations in the fields of real estate, urban planning, finance, redevelopment and affordable housing development and rehabilitation.
• Interacts at and leads community stakeholder and leaseholder meetings.
• May be required to drive a vehicle to different sites and/or locations.
• Performs other related duties as may be assigned.

Knowledge of and Track Record in Utilizing:

• The theories, principles and practices of real estate development, transit-oriented development, land use planning, urban design, project management, contract administration and negotiation, and business and public administration.
• Principles and practices of municipal planning, including environmental regulations and public policy issues, land use entitlements and obtaining approvals and permits from other agencies.
• Principles of community development and public engagement.
• Large scale multi-family development and redevelopment activities, including utilization of low-income tax credit and bond financing.
• Project cash flows, pro-forma of financial statements, sources and uses of funds to maximize the potential returns to HACLA from its assets and from the sale of tax credits and revenue bonds to potential investors and other funding sources.  
• Pro-forma analysis of development costs, cash flow, operating costs, including direct construction costs, and related activities.  
• Approaches with obtaining tax-exempt financing, preparing bid documents for soliciting investors, lenders, underwriters and/or credit enhancers and assisting with negotiations.  
• Preparing applications for private and public funding from other government agencies.  
• Negotiating fees, expenses and terms of investment and closing financial transactions.  
• Partnership agreements, disposition, lease and loan agreements especially relative to Department of Housing & Urban Development (HUD) regulations.  
• Negotiation and deal structuring with developer/partners, property owners, and government agencies.
• Preparation, negotiation and finalization of construction contracts, loan documents and assistance with resolution of financing issues for each component of the project and other related agreements. 

Minimum Requirements:
Education and Experience:
Bachelor’s Degree in Business Administration, Economics, Public Administration, Urban Planning, Real Estate Management, Engineering, Architecture or closely related field-AND- Six (6) years of work experience in public housing, affordable housing, or a real estate redevelopment environment; including at least (3) three years of senior level management experience; or the equivalent combination of education and experience which meet the minimum qualifications requirement.
Desired Qualifications:

• At least six (6) years of increasingly responsible experience in sourcing, structuring and negotiating real estate transactions, preferably with experience in affordable housing transactions, which include public subsidies, low income housing tax credits and tax-exempt bonds.
• Advanced management experience in reviewing, preparing and modeling real property financing which shall include work in government-assisted programs for developing and financing mixed-use / mixed-income, affordable and market rate developments including both multifamily housing and commercial elements.
• Extensive experience in budget planning and control, fiscal management and personnel administration.
• Advanced project management experience, inclusive of direct oversight of real estate and community development projects.
• Experience in performing financial modeling of development projects.
• Experience working with principals and senior level officials is required.
• Masters Degree in Business, Real Estate, Finance, Economics, Urban Planning, or related field.

 Special Requirement:
 Must possess a valid California Class C Driver's License.

Salary : $169,208 - $208,104