Development Specialist

Development Specialist – City of San José

Join the City of San José Housing Department as a Development Specialist. The department is a leader in affordable housing development, managing a portfolio of over 17,000 units and operating an annual budget of approximately $19 million. The role involves underwriting affordable housing loans, administering loan transactions, and managing the City’s loan portfolio.

Equal Opportunity Employer – The City of San José is an equal‑opportunity employer. All applicants will be considered without regard to age, race, color, religion, sex, national origin, sexual orientation, disability, veteran status or any other consideration made unlawful under federal, state or local law. The City is committed to offering reasonable accommodations for applicants with disabilities. If you need assistance, contact 408‑535‑1285, 711 (TTY), or City Careers.

The Housing Department’s mission is to strengthen and revitalize the community through housing and neighborhood investment. The City has set a goal of creating 25,000 housing units in the next five years, 10,000 of which will be affordable. It emphasizes values of Integrity, Innovation, Excellence, Collaboration, Respect, and Celebration.

We are hiring for three full‑time Development Specialist vacancies in the following teams:

• Collaborate with affordable housing developers and community groups to proactively manage projects from conception through completion.
• Review the structure of multifamily financing proposals for new construction and preservation projects.
• Assess financial statements and pro‑formas for feasibility and credit risk.
• Coordinate and execute documents related to City loan, land purchase, and regulatory agreements.
• Ensure completeness and accuracy of loan documents, title reports, property management agreements, limited partnership agreements, and other due diligence items.

• Process construction loan draws by reviewing invoices and draw requests for completeness and accuracy.
• Manage disbursements and wire requests with the Fiscal team.
• Coordinate and review multifamily housing transaction closing due diligence with developers, lenders, and third‑party consultants.
• Maintain files, including set‑up, updates, closeouts, and cancellations.

• Serve as primary contact for inquiries from citizens and external partners, including developers, borrowers, non‑profits, and property managers.
• Ensure ongoing property compliance with the City’s affordability covenants and loan agreements.
• Collect and review borrower documentation to meet occupancy, loan, and regulatory requirements (audits, budgets, capital plans, reserve draw requests, rent rolls, insurance certificates, fair‑housing materials).
• Assess project financial health and recommend solutions to operating challenges that support both borrower and City interests.
• Track and analyze property management and financial data to identify trends in vacancy, rents, and related performance indicators.

The Development Specialist may also be assigned to support other Housing Department initiatives and functions not limited to the above activities.

The salary range for Development Specialist positions is $95,702.88 – $ annually. This includes an approximate 5 % ongoing non‑pensionable compensation. The final salary will be determined by the candidate’s qualifications and experience.

• Education:
  
  Bachelor’s degree in Planning, Housing, Geography, Economics, Business Administration, Public Administration, Political Science, Sociology, or a related field.
• Experience:
  
  Two (2) years of directly related work experience.

Additional related experience may be substituted for the education requirement on a year‑for‑year basis.

Possession of a valid State of California driver’s license may be required for some assignments.

• Experience with single and multifamily property management, asset management,…