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CEO, Downstreet Housing & Community Development

Eos Transitions
Barre, VT
  • Expired: over a month ago. Applications are no longer accepted.
Job Description: Downstreet Housing & Community DevelopmentChief Executive Officer Search Downstreet Housing & Community Development (Downstreet) is seeking a dynamic and experienced leader to guide this respected and impactful regional organization. Core to all of the organization's activities is its mission: Downstreet strengthens the communities of Central Vermont by engaging with people, providing affordable homes, and connecting people to the resources and services they need to thrive. The CEO's primary responsibilities will include providing oversight to real estate development activities and related programs, the management of $73 million in real estate assets, a $4 million annual operating budget, and a staff of 30, as well as working with a committed Board of Directors to develop the strategic direction for the organization. The CEO position encompasses a wide variety of duties related to real estate development, community relations, strategic planning, financial management, fundraising and revenue generation. The CEO will be expected to ensure the financial strength of the organization, position the organization for appropriate growth, and seek opportunities to strengthen impact. Multiple years of progressive, senior level management experience required; housing development experience and nonprofit experience highly desired. The successful candidate will have excellent interpersonal, management, and analytical skills, experience working with an active board of directors, as well as the ability to manage and prioritize competing needs in a complex organization. Organizational Background and Accomplishments Downstreet was incorporated in 1987 as the Central Vermont Community Land Trust by a citizen group working with Central Vermont Community Action Council in response to skyrocketing real estate values and the rapid development of high-priced homes. In 2015, the organization re-branded as Downstreet Housing & Community Development to better reflect the wide variety of programs and services that Downstreet offers. Since 1987, Downstreet has served Lamoille, Washington, and Orange Counties in Vermont. The organization serves more than 2400 people with low-and-moderate incomes each year through affordable rental apartments, homebuyer education and assistance, as well as the nationally recognized SASH® (Supports and Services at Home) program. Downstreet is one of 240 chartered community development organizations within NeighborWorks America's national network. In 2020, it was designated a member of an elite group-NeighborWorks America rated Downstreet "Exemplary", the highest rating possible for organizations within the NeighborWorks network. To qualify for exemplary status, NeighborWorks network members must exceed performance standards in production and program services, resource and financial management, and organizational management and board governance. Today, more than 850 local citizens reside in Downstreet's apartments, 26% of whom are children and 25% of whom were formerly homeless. Downstreet's affordable housing development activities have revitalized neighborhoods, eliminated blight, and created sustainable and inclusive communities. Its innovative projects range from the Taylor Street Apartments in Montpelier, sitting above the City's new multi-modal transit center and developed in collaboration with Evernorth (formerly Housing Vermont) and the City of Montpelier; to South Main Apartments in downtown Waterbury, 27 mixed-income apartments on the site of the Tropical Storm Irene-damaged State Office complex, mixing the historic preservation of Ladd Hall with a newly constructed building; to Downstreet Apartments in Barre, where several blighted properties were removed to make way for the new office/residential complex. In 2022, the organization will begin the development of a Recovery Residence in Barre in collaboration with Vermont Foundation of Recovery; the development of Granite City Apartments, which includes the adaptation of the Old Ward 5 School into apartments; and the development of Fox Run Apartments on the Berlin Mall parcel-- 36 new apartments, 24 of which will be affordable. Downstreet's affordable housing projects have been recognized by a number of awards. The French Block in Montpelier received the 2019 Council of State Community Development Agencies "Sterling Achievement Award" for Housing. Downstreet Apartments received the 2019 "Governor's Environmental Excellence Award". And finally, One Taylor Street in Montpelier was awarded the "Honor Award for Excellence in Architecture" by AIA Vermont. Downstreet's NeighborWorks HomeOwnership Center (HOC) is working not only to help local citizens become homeowners, but also to assist local homeowners to maintain their homes. The Homeownership Center offers three core programs: First, homebuyer education and counseling services, including pre-purchase and post-purchase counseling. Downstreet's HOC provided financial guidance and education to 202 households in 2020, with 87 going on to purchase a home. Second, the Shared Equity Program, which provides grants to income-eligible homebuyers to assist with the purchase of a permanently affordable single-family home. Currently, 157 local homeowners' own homes through Downstreet's Shared Equity Program. And third, the Green Mountain Home Repair (GMHR) program, which helps homeowners address critical health and safety issues-as well as increase the energy efficiency of their homes-through low-cost loans, flexible terms and support. Downstreet's work uses housing as a platform for essential services that deliver equity and social justice directly to the most foundational part of our lives: home. Downstreet is actively taking steps to create policies and practices with racial, ethnic, and economic equity in mind. The Board and Staff each have Race, Equity, Diversity and Inclusion committees to define the organization's goals along with metrics for measuring progress. Programs Real Estate Development: Downstreet both rehabilitates and constructs new rental apartments throughout the three-county region, ensuring that there is a stock of permanently affordable apartments to residents. Downstreet has competed for and received project development funding from many sources, including the Vermont Housing and Conservation Board, the Vermont Community Development Program, and the Affordable Housing Program of the Federal Home Loan Bank of Boston. In addition, Downstreet has developed project equity through the Low-Income Housing Tax Credit Program and the Historic Tax Credit Program. Property Management & Maintenance (Affordable Apartments): Downstreet owns, manages and maintains a diverse portfolio of 448 affordable and deeply subsidized rental apartments (LIHTC, HUD Section 8, USDA RD 515, National Housing Trust Fund, HOME). Downstreet housing serves individuals and families, senior citizens, and individuals living with special needs, including the homeless, and partners with local service organizations to provide the support its residents need to succeed and to thrive. These supports include budgeting assistance and financial counseling; life skills support; assistance with accessing federal or state benefits; and counseling services. SASH® (Support and Services at Home): The SASH Program is an innovative housing and care-coordination model for Medicare recipients who live at home. SASH brings together nonprofit housing providers, social services agencies, hospitals, and community health providers to coordinate care and provide individualized supports to seniors and people with disabilities, enabling them to live and age in place safely. Downstreet now serves 650 elderly and disabled residents in Washington, Orange and Lamoille counties. Mobile Home Park Lots: Downstreet owns, manages and maintains four (4) mobile home park communities with 82 pads, providing stable, decent and affordable homeownership opportunities. NeighborWorks HomeOwnership Center (HOC): The HomeOwnership Center assists individuals with everything from purchasing a home, pre-and post-purchase financial counseling, obtaining a home repair loan and more. In addition, affordable homeownership is available to income eligible homebuyers through the Shared Equity Program. The HOC has administered a number of pandemic-related programs as well. The Rental Rehab Re-Housing Program was established using CARES Act funding to provide grants to local landlords to correct code violations and bring vacant units back online. The focus is on providing housing opportunities for people experiencing homelessness. In the first two rounds, Downstreet was able to facilitate the rehabilitation of 36 apartments, helping to create much needed housing. Due to its success, Vermont is making additional funding available to continue the program in 2022. The HOC team also administers the Eviction Prevention and Housing Retention Program, which works with homeowners and renters who are behind with payments to help them get back on track. Strategic Direction Over the next 18 months, Downstreet will continue its work, building on more than thirty years of successful leadership in the area of affordable housing development, homeownership programs, property management, and advocacy. The overarching goals for the time period will be as follows: Goal #1: Hire and onboard a new Chief Executive Officer Goal #2: Preserve and increase the supply of affordable housing across the region Goal #3: Continue to strengthen internal capacity and effectiveness, positioning the organization for long-term vitality and success. The successful hiring and onboarding of a new leader will be the first priority for the organization. The Board will welcome and orient the new executive; make staff and community introductions; develop and implement an onboarding plan; assess supports needed by and for the new executive; and develop a workplan with priorities for the first year. A var

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