Private Activity Bond Manager - Office of Housing Finance and Sustainability (OHFS) Print (https://www.governmentjobs.com/careers/colorado/jobs/newprint/4429236) Apply Private Activity Bond Manager - Office of Housing Finance and Sustainability (OHFS) Salary $68,100.00 - $88,536.00 AnnuallyLocation Denver Metro, COJob TypeFull TimeJob NumberNAA-01933-03.2024DepartmentDepartment of Local AffairsDivisionDivision of HousingOpening Date03/22/2024Closing Date4/2/2024 11:59 PM MountainFLSADetermined by PositionPrimary Physical Work Address1313 Sherman Street, Room 500, Denver, Colorado 80203FLSA StatusExempt; position is not eligible for overtime compensation.
Description
Benefits
Questions
Department InformationThis posting is only open to residents of the State of Colorado at the time of submitting your application. This posting may fill other similar positions in the same class including some permanent regular and term-limited positions. About the Colorado Department of Local Affairs The Department of Local Affairs (DOLA) serves as the primary interface between the State and local communities. The Department provides financial support to local communities and professional and technical services (including training and technical assistance) to community leaders in the areas of governance, housing, and property tax administration. While all state governments provide such services through various Departmental structures, Colorado’s approach is unique in that these local community services are gathered into one Department of “Local Affairs,” which has a central focus on strengthening Colorado communities and enhancing livability. Vision The Department of Local Affairs is responsible for strengthening Colorado's local communities through accessible, affordable, and secure housing; implementing property tax law; capacity building, strategic training, research, technical assistance, and funding to localities. Mission Our mission is to help strengthen Colorado’s communities Why work for the Colorado Department of Local Affairs? The work we do matters greatly. It matters to us and it matters to the citizens of the great state of Colorado. We love our community and are passionate about supporting our community. We value the diversity (https://youtu.be/eAPo-IRsOZU) that Colorado offers. If your goal is to build a career that makes a difference in communities across the State, consider joining the dedicated people of the Department of Local Affairs. In addition, we offer a great location and great benefits, which include:
Medical and dental plans (https://www.colorado.gov/pacific/dhr/benefits)
Strong, secure, yet flexible retirement plans including PERA Defined Benefit Plan or PERA Defined Contribution Plan (https://www.copera.org/sites/default/files/documents/5-112a.pdf) plus pre-tax and ROTH 401K, and 457 plans (https://www.copera.org/members/peraplus-401k457)
Employee wellness programs
Paid life insurance
Short and long-term disability coverage
11 paid holidays per year plus vacation and sick leave
Training Opportunities
Flexible work schedule options and remote-work options
Some positions may qualify for the Public Service Loan Forgiveness Program. For more information go to https://dhr.colorado.gov/dhr-resources/student-loan-forgiveness-programs (https://dhr.colorado.gov/dhr-resources/student-loan-forgiveness-programs%20)
Variety of discounts on services and products available through the State of Colorado's Work-Life Employment Discount Program.
Description of JobThe Division of Housing (DOH) partners with local communities to create housing opportunities for Coloradans who face the greatest challenges in accessing affordable, safe, and secure homes. DOH supports projects ranging from homelessness prevention to homeownership. Our work includes:
Increasing and preserving Colorado's inventory of affordable housing.
Managing rental assistance vouchers.
Creating and supporting collaborative approaches to end homelessness.
Regulating mobile home parks and the construction and installation of factory-built structures.
For more information visit the Division of Housing (https://cdola.colorado.gov/housing) . Office of Housing Finance and Sustainability (OHFS)Under the mission of DOLA, the Division of Housing Office of Housing Finance and Sustainability, exists to provide safe, decent and affordable housing to low and moderate income residents of Colorado by working with public and private housing developers, housing organizations and local governments to develop, rehabilitate, and provide down payment and rental assistance to new and/or existing housing.Position SummaryThe Private Activity Bond Manager exists to carry out the housing development mission described above by analyzing, negotiating, monitoring and developing applications for financial assistance from private housing developers, local housing authorities, and/or local development organizations. For the term of affordability the Division is financially obligated to HUD for the amount of federal funds invested in affordable housing. This position gives the Division a basis for determining the feasibility of its affordable housing investments. The geographic responsibilities of this position will be determined upon candidate selection.In addition this position manages the Private Activity Bond (PAB) program for the department in order to ensure that issuing authorities and developers are compliant with the terms and conditions under which PABs may be used. This position advises on and tracks the allocation of PABs from year to year to ensure that the State does not exceed its annual cap.Job DutiesSpecific duties include but are not limited to:Management of Private Activity Bond ProgramProgram Manager and Staff Authority for the Private Activity Bond (PAB) program for DOLA. Duties include adopting annual allocation plan, notifying local governments of annual award, and providing technical assistance to local officials and others. This position also tracks PAB balances, carry-forward amounts and fees owed to DOH. It receives, analyzes and provides recommendations to the PAB Allocation Committee on applications for the PAB Statewide Balance. It also provides DOLA’s Executive Director with updates and recommendations regarding PAB policies. These policy recommendations must take into account the complexities of federal IRS regulations and state statutes, and the potential impact on housing markets statewide. The Executive Director relies on the advice and counsel of this position in approving any revisions to DOLA’s PAB policies with respect to housing development. In addition, training staff as well as local officials and developers on the appropriate use of PAB falls to this position.Technical assistance and underwritingThis position acts as the primary communication point for development proposals and inquiries of the Division. Advise private housing developers, local housing organizations, and local governments in using federal and state housing resources to finance the acquisition, rehabilitation and new construction of affordable housing proposals.This position analyzes applications for financial assistance by reviewing for completeness, accuracy, market demand, financial commitments, management capacity, regulatory compliance, financial feasibility, and development cost. Analyzes financial spreadsheets & other materials submitted with the Division application. Assess feasibility based on DOH policies and industry standards. Determines project compliance with federal regulations and/or state laws. Prepares written funding and funding source recommendations for presentation to staff and the State Housing Board. These recommendations include the eligible use of funding and the analysis of cost estimates, project revenue, operating cost, ability to repay debt, success or need to seek other investors or lenders to the project. The position negotiates any revisions to the proposal with the applicant.TrainingSupports the overall development training program for the Division of Housing by developing curriculum, and by providing training and technical assistance to private developers, local housing organization staff, and local government officials. Topics include development of affordable housing, use of federal financial resources, market assessments, development cost, and housing operating expenses. This duty includes teaching Division sponsored workshops, writing instructional manuals, and marketing workshops.Create up-to-date presentations on Division mission and federal program regulations to local government officials, advocacy groups, national organizations, and other interested parties.Respond to staff and applicants daily for guidance and assistance on solving problems that arise in the course of developing housing projects and programs consistent with state and federal regulations.Research and Agency Coordination
Research the incentives or impediments of local laws and regulations on the development of affordable housing.
Identify methods and techniques used by other public agencies, private developers, or real estate professionals to increase the availability of affordable housing.
Writing staff pro/cons
Write Project Summaries which are used to draft contracts for funding awards.
Work with the Asset Management team to establish the performance benchmarks that are included in contracts for each new applicant.
Assess grantees performance based on previously DOH funded housing projects or other housing projects developed in Colorado or elsewhere in the United States.
This position utilizes the financial underwriting principles adopted by the Division and related financial industry standards to evaluate and recommend financing options for affordable housing developers. The position must maintain current information and standards and apply those standards to the type of housing being developed and any unique factors impacting the cost of the project or the market risk.
This position must recommend funding options to housing applicants that comply with the appropriate public or private lending source. Sources include state funds (regulated by State Statute) and federal funds (regulated by HOME, CDBG regulations & the IRS, plus Fiscal OMB Circulars). Funding options vary by a project’s size, location, beneficiaries, revenue projections, and any special needs of prospective residents such as disabilities, age, or seasonal employment.
Recommends funding levels and sources for housing development applications by analyzing financial information submitted by each applicant for funding. These recommendations include the eligible use of funding and the analysis of cost estimates, project revenue, operating cost, ability to repay debt, success or need to seek other investors or lenders to the project.
Negotiate as an official representative with local government officials, housing developers and other investors regarding the amount of funding to be requested and approved by the Department for housing projects.
Respond to appeals by grant recipients or applicants of staff decisions regarding compliance violations or award levels or denial of project application requests.
Understanding the development cost of affordable housing is essential to recommending the most appropriate amount of public subsidy. Cost ranges are used by the Division to establish the quality of housing to be developed and to identify cost savings that can minimize the amount of public subsidy. The position must communicate and negotiate with applicants when projects do not meet the DOH cost ranges.
Minimum Qualifications, Substitutions, Conditions of Employment & Appeal RightsClass Code & Classification Description: H1N4XXCOMMUNITY AND ECONOMIC DEVELOPMENT IV (https://drive.google.com/file/d/0B4enHpLSVk4eWjJxR3FBNUNKRW8/view?pli=1&resourcekey=0-yjrgkflVqkq8KsRC28BD4w) MINIMUM QUALIFICATIONS:Education and Experience:Seven (7) years professional experience with one of the following:
administration of federal or state housing assistance programs;
federal grant reporting and/or management;
real estate, banking, or lending specific to affordable housing (affordable housing requirements must be the primary focus of the job);
and/or consulting regarding low income housing assistance or development.
OR
Bachelor’s degree from an accredited institution.
AND(3) Three years professional experience with one of the following:
administration of federal or state housing assistance programs;
federal grant reporting and/or management;
real estate, banking, or lending specific to affordable housing (affordable housing requirements must be the primary focus of the job);
and/or consulting regarding low income housing assistance or development.
OR
Master's degree from an accredited institution.ANDTwo (2) years professional experience with one of the following:
administration of federal or state housing assistance programs;
federal grant reporting and/or management;
real estate, banking, or lending specific to affordable housing (affordable housing requirements must be the primary focus of the job);
and/or consulting regarding low income housing assistance or development.
OR
Juris Doctor or Doctorate degree from an accredited institution.
ANDOne (1) year professional experience with one of the following:
administration of federal or state housing assistance programs;
federal grant reporting and/or management;
real estate, banking, or lending specific to affordable housing (affordable housing requirements must be the primary focus of the job);
and/or consulting regarding low income housing assistance or development.
This experience must be documented in your application to be considered for employment.
Preferred Qualifications:
State of Colorado experience in finance and budget tracking;
Knowledge and experience with federal and state affordable housing programs;
Knowledge and experience working with Private Activity Bonds ;
Previous or current government experience in multi-family mortgage lending, real estate development, affordable housing programs, and/or housing policy, and/or land planning
Required Skills and Competencies:
Ability to present and provide technical assistance and training to a large group of people.
Strong organizational skills.
Ability to work across teams.
Strong attention to detail.
Strong analytical skills.
Effective problem-solving skills.
Effective verbal and written communication skills.
Ability to multi-task, prioritize assignments, and organize work to accommodate shifting deadlines.
Proficiency in MS Word, Excel.
Strong interpersonal skills.
Ability to effectively collaborate with internal and external customers.
Ability to provide clear, concise, and objective responses to complex program questions.
Conditions of Employment:
You MUST be a Colorado resident to apply for this position.
Travel: Occasional in-state overnight travel, rare out-of-state overnight travel
A pre-employment background check will be conducted as part of the selection process.
How to Apply:
Please submit an online application for this position at https://www.governmentjobs.com/careers/colorado . Reach out to the Department Contact to apply using a paper application, including any supplemental questions. Failure to submit a complete and timely application may result in the rejection of your application. Applicants are responsible for ensuring that application materials are received by the appropriate Human Resources office before the closing date and time listed.
Only complete applications submitted by the closing date for this announcement will be given consideration. Failure to submit properly completed documents by the closing date of this announcement will result in your application being rejected .
Applicants may submit a resume, cover letter/letter of interest detailing how their experience and background address the stated minimum and preferred qualifications/competencies of the job and attach to the online application. Applications left blank or marked “See Resume” will not be accepted.
The application may include the following documents:
A cover letter (attach to your online application).
A resume (attach to your online application).
Note: Current and former employees (transfers, voluntary demotions, and reinstatements) if applying are required to participate in the comparative analysis process.
Comparative Analysis:
Colorado Revised Statutes require that state employees be hired and promoted through a comparative analysis. The comparative analysis for this position will include a skills test of the applicants.
AND
Depending on the number of qualified applicants, the next step may include a structured review of your application materials and responses to any supplemental questions.
Supplemental InformationThe State of Colorado believes that equity, diversity, and inclusion drive our success, and we encourage candidates from all identities, backgrounds, and abilities to apply. The State of Colorado is an equal opportunity employer committed to building inclusive, innovative work environments with employees who reflect our communities and enthusiastically serve them. Therefore, in all aspects of the employment process, we provide opportunities to all qualified applicants without regard to race, color, religion, sex, disability, age, sexual orientation, gender identity or expression, pregnancy, medical condition related to pregnancy, creed, ancestry, national origin, marital status, genetic information, or military status (with preference given to military veterans), or any other protected status in accordance with applicable law. DOLA is committed to the full inclusion of all qualified individuals. As part of this commitment, our agency will assist individuals who have a disability with any reasonable accommodation requests related to employment, including completing the application process, interviewing, completing any pre-employment testing, participating in the employee selection process, and/or to perform essential job functions where the requested accommodation does not impose an undue hardship. If you have a disability and require a reasonable accommodation to ensure you have a positive experience applying or interviewing for this position, please direct your inquiries to Joel Ferguson, DOLA ADA Coordinator at [email protected] . Email Address: All correspondence regarding your status in the selection/examination process will be conducted via email. Include a working email address on your application; one that is checked often as time sensitive correspondence such as exam information or notification will take place via email. Please set up your e-mail to accept messages from "state.co.us" and "[email protected]" addresses. It is your responsibility to ensure that your email will accept these notices and/or review your junk mail and spam filtered email. Appeal Rights: If you receive notice that you have been eliminated from consideration for the position, you may protest the action by filing an appeal with the State Personnel Board/State Personnel Director within 10 days from the date you receive notice of the elimination. Also, if you wish to challenge the selection and comparative analysis process, you may file an appeal with the State Personnel Board/State Personnel Director within 10 days from the receipt of notice or knowledge of the action you are challenging. Refer to Chapters 4 and 8 of the State Personnel Board Rules and Personnel Director's Administrative Procedures, 4 CCR 801, for more information about the appeals process. The State Personnel Board Rules and Personnel Director's Administrative Procedures are available at www.colorado.gov/spb . A standard appeal form is available at www.colorado.gov/spb . If you appeal, your appeal must be submitted in writing on the official appeal form, signed by you or your representative, and received at the following address within 10 days of your receipt of notice or knowledge of the action: Colorado State Personnel Board/State Personnel Director, Attn: Appeals Processing, 1525 Sherman Street, 4th Floor, Denver, CO 80203. Fax: 303-866-5038. Phone: 303-866-3300. The ten-day deadline and these appeal procedures also apply to all charges of discrimination.