Director of Housing Finance and Sustainability

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Director of Housing Finance and Sustainability

Salary

$100,620.00 - $130,812.00 Annually

Location

Denver Metro, CO

Job Type

Full Time

Job Number

NAA-80882-05.2024

Department

Department of Local Affairs

Division

Division of Housing

Opening Date

05/09/2024

Closing Date

5/31/2024 11:59 PM Mountain

FLSA

Determined by Position

Type of Announcement

This position is open only to Colorado state residents.

FLSA Status

Exempt; position is not eligible for overtime compensation.

Department Contact Information

hannah.emmons@state.co.us

Primary Physical Work Address

1313 Sherman St., Denver, CO 80203 - This position is currently tasked with performing work duties via flex-place (aka telework, work-from home arrangements) with as needed on-site visits.

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.

• Description

• Benefits

• Questions

Department Information

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 program

• Training opportunities

• Short and long-term disability coverage

• Eleven paid holidays plus vacation and sick leave

• Paid life insurance

• RTD EcoPass to all eligible State Employees

• Flexible work schedule options and remote-work options

• Some positions may qualify for the Public Service Loan Forgiveness Program.

• 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 Free discounts on services and products available through the State of Colorado's Work-Life Employment Discount Program.

Description of Job

TheDivision 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 (HFS)

The Office of Housing Finance and Sustainability (HFS) 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 for new and/or exiting housing.

Position Summary

The Division of Housing is looking for a visionary leader to creatively reshape the role of state financing in affordable housing. The Director of Housing Finance and Sustainability will positively impact the lives of Coloradans from the rural eastern plains to the front range to our mountain resort communities.

The lack of affordable housing is arguably the number one issue facing communities all across Colorado. Housing issues vary regionally across the state and in rural vs urban areas, but the bottom line is that 45% of renters (329 thousand) are cost burdened, and homeownership is getting further and further out of reach as the median home prices escalate.

The Director of Housing Finance and Sustainability is ideal for a collaborative, forward thinking, problem solving professional with an understanding of deal structure and our dynamic housing financial markets. If you're looking for an opportunity to share your expertise and have a positive impact in communities all across the State of Colorado, we invite you to submit an application so we can learn more about you!

The Director of Housing Finance and Sustainability exists to provide leadership in the administration and budgeting of all Colorado Division of Housing grant and loan programs for housing development. Specific responsibilities include the following:

• Oversee the management of federal and state grant and loan funding streams to ensure DOH funding awards and contracts meet DOH strategic initiatives, compliance requirements, and that sufficient funds exist for contracting.

• Lead and manage the Associate Office Director who manages the Portfolio Manager overseeing the Asset Management teams and who manages the Housing Development Manager overseeing the Housing Development Team (DEVOS).

• Serve as secondary or tertiary manager to 40 additional staff in this work unit. Ensure work units are staffed to achieve DOH goals.

• Develop and adapt program guidelines, policies and priorities related to housing financing mechanisms, underwriting, and long-term housing affordability. Engage stakeholders in program development and operation of programs to ensure program and financial performance meets legislative and programmatic intent.

• This position must also consider changing market conditions and stakeholder feedback when considering programmatic changes or variations to program guidelines. Project viability is core to stably housing Coloradans.

• Identify and lead efforts to optimize work processes and policies within the Office of Housing Finance and Sustainability.

• Create financing tools and implement tools through application development, underwriting and contracting within DOH to meet statewide housing needs.

• Review and approve the financing of each DOH investment to substantiate the amount and type of funding recommended to the State Housing Board. Stakeholder and Advisory Group input should be considered when assessing underwriting standards and any possible variations to standards.

• Collaborate with contracting team and other teams throughout the Division to improve efficiency, safeguard public funds, and ensure projects provide long-term affordability

Job Duties

Specific duties include but are not limited to:

Staffing and Supervision

Supervise the OHFS’ Associate Office Director, who oversees the Portfolio Manager and the Asset Management team responsible for administering HFS contracts for affordable housing development, acquisition, and rehabilitation. Guide and support Portfolio Manager in the establishment of timelines, policies, and processes to ensure program compliance with federal program regulations, cross-cutting regulations, and state requirements. Provide guidance to Associate Office Director for housing program and staff management as needed.

Supervise the OHFS’ Associate Office Director, who oversees the Division’s Development Manager, who oversees the Development Team responsible for providing affordable housing development technical assistance and for underwriting affordable housing grants and loans. Guide and support the Development Manager in setting underwriting policies and implementing financing mechanisms. Provide underwriting training to Development Manager as needed. Provide guidance to Development Manager for development program and staff management as needed.

Oversee determination of FTE needs for Office of HFS team with OHFS’ Associate Office Director, Portfolio Manager and Development Manager. Evaluate existing staff, skill sets, and workloads. As program needs and priorities shift recommend reassignment of duties and new hires needed to fill skill gaps to the Division Director. Conducts supervisory responsibilities such as hiring employees, approving leave, managing performance as rater and second level reviewer, resolving conflicts among staff, identifying training needs, issuing performance improvement plans and corrective actions when appropriate, making compensation recommendations. Provide leadership by designing optimal work environment, implementing coaching strategies, mentoring and engaging employees, and identifying ways to improve overall organizational performance.

Financial Programming, Stakeholder Engagement and Oversight

Research, assess and implement new innovative financing mechanisms such as participation loans, loan guarantees, and/or construction loans, ensuring sufficient safeguards for state and federal funds. Engage stakeholders in program development and operation of programs to ensure program and financial performance meets legislative and programmatic intent. Train Asset Management, Development and Contracting teams on use of these financing mechanisms. Set policy and guidelines for applicants who wish to use these tools. Review and approve underwriting and contracting for housing development grants and loans.

Federal and State Program Oversight

In collaboration with the Deputy Director evaluates new legislation and regulations for impacts on federal (e.g. HOME, CDBG, NHTF) and state housing development grant and loan programs, identifies conflicts with existing policies and procedures, and determines method to implement necessary changes. Delegates the drafting and updating of DOH program documents, advises and oversees completion. Provides guidance to DOH development and compliance teams on the interpretation of state and federal requirements in the determination of applicability and priority. Advises State Controller Contracts Unit Manager (within DPA), and DOLA Controller and Contracts and Procurement Manager regarding statewide program impacts and necessary changes.

Acts as a resource to Portfolio Manager before, during, and after HUD monitors and/or audits DOH programs. Confirms Portfolio Manager’s recommendations to resolve or dispute monitoring findings. Advises Director of such resolutions, statewide programmatic impact, and recommends changes that may be needed.

Program Assessment and Expansion

Develops and recommends strategies for increasing affordable housing development and preservation in rural and other underserved areas of the state in order to more effectively meet local needs and to effectively expend state funding. Designs and implement strategies to expand the impact of state and federally funded programs and projects in cooperation with staff and partner agencies. In collaboration with the Development Manager, develops and recommends strategies for increasing affordable housing development in rural or underserved areas of the state.

Develops broad program and policy recommendations for the Division Director that account for the complexities of federal and state laws/regulations and the potential impact on stakeholders. Works with internal staff and external partners and stakeholders to identify programmatic weaknesses, develop ideas for improving operations, implement those ideas, and track accomplishments. Identifies opportunities to expand programs, and make recommendations to both the Division Director and partner agencies.

Reviews proposed State legislation affecting the Division and Statewide housing policy and funding, helps Division Deputy Director recommend Decision Items related to the HFS functions.

Minimum Qualifications, Substitutions, Conditions of Employment & Appeal Rights

Class Code & Classification Description:

H1A4XXPROGRAM MANAGEMENT III (https://drive.google.com/file/d/0B4enHpLSVk4eQjFoWE10NVJSX1U/view?usp=sharing&resourcekey=0-VJYWFDAOXlezd5Kua_eqQA)

MINIMUM QUALIFICATIONS:

Experience Only:

Ten (10) years of professional experience in multi-family, commercial real estate development or multi-family, commercial real estate finance. Experience must have included a minimum of two years of real estate loan origination and/or underwriting experience and two years of supervisory experience.

OR

Education and Experience:

Bachelor's degree from an accredited institution in finance, business, economics or a closely related field as determined by the department.

AND

Six (6) years of professional experience in multi-family, commercial real estate development or multi-family, commercial real estate finance. Experience must have included a minimum of two years of real estate loan origination and/or underwriting experience and two years of supervisory experience.

OR

Master's degree from an accredited institution in finance, business, economics or a closely related field as determined by the department.

AND

Five (5) years of professional experience in multi-family, commercial real estate development or multi-family, commercial real estate finance. Experience must have included a minimum of two years of real estate loan origination and/or underwriting experience and two years of supervisory experience.

This experience must be demonstrated in your application to be considered for employment.

Preferred Qualifications

• Advanced degree in finance, business administration, or economics

• Extensive knowledge and experience with commercial and multi-family/single-family loans

• Expert level knowledge of financial tools and mechanisms

• Experience with loan originations and underwriting and how to close a deal

• Understanding of financial markets

• Understanding of the roles of developers, construction lender/mortgagor

• Experience with grant and loan programs for affordable housing development

• Demonstrated knowledge and experience with strategic planning and implementation

• Knowledge of contracting

• Knowledge of federal and state housing program requirements

• Experience with policy and guidelines development and implementation

• Experience with business development

• Experience supervising a team or multiple primary and secondary staff

• Outstanding leadership skills and human resource management

• Excellent problem solving skills

• Ability to work effectively and cooperatively with a variety of stakeholders

• Excellent fiscal management skills

• Outstanding verbal and written communication skills

  Required Skills and Competencies:

• Ability to interpret federal and state regulations or program guidelines

• Ability to consult, advise and work collaboratively across teams

• Capability to sustain a respectful and productive work environment that inspires teamwork and positive results

• Ability to gather, analyze, and interpret a variety of data to identify trends and draw conclusions

• Strong attention to detail

• Strong analytical skills

• Strong dedication to public service

• Excellent problem-solving skills

• Excellent verbal and written communication skills, including strong public speaking skills

• Ability to multitask, prioritize assignments, and organize work to accommodate shifting deadlines

• Planning and organizational skills

• Ability to provide clear, concise, and objective responses to complex program questions

• Proficiency with Microsoft Office Suite, including Excel and Word, and Google Suite

• Strong interpersonal skills

• Ability to de-escalate and resolve conflicts

  Supplemental documentation:

  It is recommended that a cover letter and resume be attached to this application. Are your documents attached?

  Conditions of Employment:

• You MUST be a Colorado resident to apply for this position.

• Travel: Occasional Statewide overnight travel, rare out-of-state overnight travel

  Application Checklist:

  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 are hired and promoted through a comparative analysis. The comparative analysis for this position will include a skill assessment. Depending on the number of qualified applicants, the next step will include a video or a voice screening of the applicants.

Supplemental Information

Supplemental Information:

The 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 joel.ferguson@state.co.us (jennifer.yalcin@state.co.us) .

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 "info@governmentjobs.com" addresses. It is your responsibility to ensure that your email will accept these notices and/or review your junk mail and spam filtered email.

Please Note:

As of July 1, 2023, all DOLA new hires, including transfers of current state employees and reinstatements of former state employees, will be placed on the biweekly pay schedule. This means you will be paid every other Friday for a total of 26 pay periods over the course of a year. Biweekly pay is also lag pay, meaning you will be paid two weeks after the end of each pay period. Please click here (https://drive.google.com/file/d/1_ywHxnnEN-wkGf3B1uS1W0y_4D5tu0lu/view) for more information about the move to biweekly payroll.

Appeal Rights:

An applicant who has been removed from an employment list or removed from consideration during the selection process may request a review by the State Personnel Director.

As an applicant directly affected by the results of the selection or comparative analysis process, you may file a written appeal with the State Personnel Director.

Review of the completed, signed and submitted appeal will be timely on the basis of written material submitted by you, using the official appeal form signed by you or your representative. This form must be completed and delivered to the State Personnel Board by email at dpa_state.personnelboard@state.co.us within ten (10) calendar days from your receipt of notice or acknowledgment of the Department’s action.

For further information on the Board Rules, you can refer to 4 Colorado Code of Regulations (CCR) 801-1, State Personnel Board Rules and Personnel Director's Administrative Procedures, Chapter 8, Resolution of Appeals and Disputes, at spb.colorado.gov/board-rules .

For questions related to this job posting, please reach out to Joel Ferguson at Joel.Ferguson@state.co.us

The State of Colorado offers permanent employees a variety of benefits including medical, dental, life and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: www.colorado.gov/pacific/dhr/benefits

Please note that each agency's contact information is different; therefore, we encourage all applicants to view the full, official job announcement which includes contact information and class title. Select the job you wish to view, then click on the "Print" icon.

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  DOLA - By clicking "yes" below, I certify that I understand that effective July 1, 2023, all DOLA new hires, including transfers of current state employees and reinstatements of former state employees, will be placed on the biweekly pay schedule.

• Yes

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