Real Estate Developer

QUALIFICATIONS:

Experienced in development of multifamily housing including site analysis and financial packaging. Strong preference is given to those with experience in affordable and low-income housing tax credit developments. Must have experience in oversight of general contractors,
architects, engineers and other vendors; preparation of Options and Offers to Purchase; creation of proformas including sources and uses of funds and cash flow analyses. Ability to handle zoning and governmental issues required. The position requires a college degree in real
estate, business, planning or similar.

The Project Manager will be responsible for assigned affordable housing development activities as an employee of Mosaic.

Managerial/Organizational:

• Coordinate with Asset Management as necessary to plan for appropriate underwriting and capital improvements associated with refinance of existing real estate assets.
• Review and recommend approval of project draws as prepared by Construction Manager.
• Coordinate with Accounting for efficient financial reporting for development projects.
• Maintain appropriate files and records as documentation of activities and related expenses as they occur.

Housing Development:

• Manage all aspects of affordable housing real estate development for assigned projects, including coordination and oversight of the following activities:
• Responsible for the successful implementation of assigned development projects from concept through conversion. This includes managing project budgets, funding applications, financing package, due diligence, and project schedule with assistance from Project Analyst and Construction Manager.

Make recommendations regarding pipeline projects for consideration of the Senior Project Manager and Executive Director.

• Process Options and Offers to Purchase properties.
• Negotiate with landowners, partners, contractors, and consultants for assigned projects.
• Establish relationships with City/County officials and appear before Planning and Council hearings as necessary for government and site approvals.
• Establish and maintain relationships with investors and lenders.
• Maintain current knowledge of financing options including LIHTC, HOME, RPP, FHLB AHP and other financial resources.
• Submit funding applications and financial packaging to Executive Director for review and approval.
• Manage development budget, coordinate draw funding processing with funders, interface with construction lender and funders.
• In coordination with the Construction Manager, review and recommend approval of Change Orders and manage contingency funds.
• Foster relationships with potential development partners, local legislatures, and planning departments

Perform other duties as may be required of Mosaic staff to meet organizational goals. This position is responsible to the Executive Director for the full performance of these duties. This job description does not list all the job duties and your supervisor may assign other duties from time to time. Management has the right to revise this job description at any time. The job description is not a contract for employment, and either you or the employer may terminate employment at any time and for any reason.

Benefits summary:

• Mosaic provides health insurance coverage for all employees who work 30 hours or more a week, as of the first day of employment. The organization pays for the health insurance premium for the employee.
• After the introductory period of employment (90 days), all employees may participate in the organization’s pension plan. Currently, the organization contributes an amount equal to 3% of gross pay into the plan monthly
• At time of employment, all employees who work 30 hours or more a week may enroll in the organization’s Life and Disability plan. This is a benefit that is offered only to the employee and the full premium is paid for by the organization. The life insurance coverage is double the annual salary of the employee up to $120,000. Short-term disability and long-term disability are included in the current plan.
• The organization offers a supplemental dental plan that employees scheduled to work 30 hours or more a week may participate in at time of employment. The premium costs for the employees are paid for by the organization.