Director of Housing Finance Mayoral XV

Director of Housing Finance - 0903-Mayoral Staff XV

Classification: 0903 - Mayoral Staff XV
Department:
Mayor’s Office of Housing and Community Development (MOHCD)
Reports To:
Deputy Director, Multifamily Housing and Home ownership Programs

The Director of Housing Finance (the “Director”) will lead the development and implementation of the MOHCD Housing Division’s multifamily financing programs, underwriting guidelines, and state and federal funding strategy and will work closely with the Director of Home ownership to identify home ownership financing opportunities. Reporting to the Deputy Director for Multifamily Housing and Home ownership Programs, the Director will collaborate closely with the senior management team, other MOHCD managers and external partners.

The Director is a new senior position responsible for coordinating MOHCD’s major financing functions and multifamily underwriting governing debt issuance, loan structuring, loan terms, and capital markets. The Director provides subject matter expertise, innovation, coordination, collaboration, policy development, and support to evaluate opportunities and contribute to the Housing Division’s impact. Key responsibilities include, but are not limited to:

• Oversee funding procurements in alignment with the City’s available resources, funding goals and underwriting guidelines. Issue NOFAs, RFQs and RFP, administer competitive vetting process, make funding awards.
• Update and maintain funding guidelines and policies for the department
  • Lead collaborative process with staff and external stakeholders to update guiding policies on a regular cadence:
    • Multifamily Underwriting Guidelines
    • Developer Fee Policy
    • Bond Program Manual
    • Operating Fees Policy
    • Ground Lease Policy
    • 9% queue
    • Residual Receipts Policy
    • Commercial Space Policy
    • Cash Out Policy and Waivers
    • Multifamily Subordination Policy
    • LOSP Program Manual
• Oversee funding programs
• Manage MOHCD funding programs and policies, debt issuance, lending products, and financing structures.
• Collaborate interdepartmentally and externally to identify and execute on funding opportunities that will increase MOHCD’s access to capital.
• Develop and deploy new funding programs as appropriate
• Lead analysis and advocacy around state and federal funding programs with the goal of maximizing affordable housing and home ownership resources for San Francisco. Programs may include TCAC (tax credits), CDLAC (tax exempt bonds), California Department of Housing and Community Development (soft debt programs), CalHFA (bonds and soft debt, Cal Home). Tasks include:
• Review updates to guidelines, gather input, submit comments
• Attend and monitor hearings, meetings and other discussions
• Collaborate with internal and external stakeholders including affordable housing developers, advocacy groups, and local governments statewide
• Manage San Francisco’s applications for State and Federal housing-related funding programs in collaboration with the division’s program directors, developer partners and sister agencies
• State programs: PLHA, LHTF, Pro Housing Designation, Cal Home
• Federal programs: HUD Pro Housing, Restore Rebuild, others
• Bond Program management
  • Lead all Multifamily bond issuances, including volume cap private activity bonds
• Create applications in portal
• Review all applications with FA and provide technical assistance
• Draft, review and submit for signature all bond attachments and inducements
• Submit annual Demand survey
• Conduct all TEFRA hearings
• Review bond documents and work with bond counsel on closings
• Update Bond Program Manual as needed
• Reporting and Monitoring
• Manage required reporting in cooperation with Portfolio Management
• Make process improvements and improve record keeping
• Develop and improve bond monitoring strategy with Asset Management Team
  • Financial Advisor and Bond Counsel procurement
  • Track Bond Recycling and maintain ongoing relationship with CalHFA
  • Train Project Managers on the bond process and how to determine competitiveness of a particular project; collaborate on Loan Eval assessment
• PASS program management
  • Lead; track issuances and funds deployed
  • Liaison with OPF and CGOBOC and Capital Planning
  • Manage final issuance
  • Third-party loan administrator performance…