Development Officer - Housing Project Manager & Asset Management Portfolio Manager

Development Officer Positions

The City of San José Housing Department is currently seeking to fill two (2) full-time Development Officer vacancies in the Production and Preservation division.

The salary range for this classification is $ - $. This salary range includes an approximate five percent (5%) ongoing non-pensionable compensation. Actual salary shall be determined by the final candidates' qualifications and experience.

Development Officer – Housing Project Manager:

The Development Officer in the Affordable Production & Preservation/Market-Rate team will be responsible for overseeing the financing, underwriting, and implementation of housing developments, including new construction and preservation projects. The position is responsible for evaluating project feasibility, structuring financing recommendations, negotiating loan and regulatory agreements, and advancing the City's affordable housing policy objectives. The Development Officer works collaboratively with developers, lenders, public agencies, and community partners to facilitate the production and preservation of affordable housing while protecting the City's financial interests.

Tasks may include, but not be limited to:

• Managing housing programs or projects to include: determining the scope of the project, developing strategies and policies, coordinating staff and other resources, providing technical assistance/support, managing project budgets, negotiating contracts and agreements, writing reports, approving change orders, and leading the marketing, promotion and outreach activities;
• Underwriting loans for the production, rehabilitation and preservation of affordable rental housing with tax credit and/or tax-exempt bond financing, with a focus on determining feasibility and effect on the City's repayments, risks and policy objectives;
• Reviewing financial statements and proformas for feasibility;
• Overseeing the administration of the City's Inclusionary Housing Ordinance and Incentive Programs;
• Managing support staff.

The ideal candidate for this position will be comfortable working in a diverse environment and have extensive experience at a management level in banking, lending or real estate development with a strong underwriting, loan servicing and regulatory compliance background. In addition, the ideal candidate will be a team player and have demonstrated values that align with the City of San Jose's values of:
Integrity, Innovation, Excellence, Collaboration, Respect, Celebration and Diversity.

Development Officer - Asset Management Portfolio Manager:

The Development Officer in the Asset Management team will be responsible for overseeing the long-term financial performance, regulatory compliance, and asset strategy of the City's affordable housing portfolio. The position is responsible for ensuring compliance with financing and affordability agreements, protecting the City's financial interests, and maintaining the long-term viability of affordable housing developments. The City's housing portfolio consists of more than 200 multifamily residential developments comprising over 22,000 affordable housing units.

Tasks may include, but not be limited to:

• Monitoring the financial performance of the City's affordable housing portfolio by reviewing annual operating budgets, audited financial statements, reserve balances, cash flow analyses, loan servicing activities, and project financial performance to identify risks and recommend appropriate strategies to protect both the borrower and the City's investment;
• Administering and enforcing financing agreements, regulatory agreements, affordability restrictions, and other loan documents by interpreting and applying local, state, and federal regulations, negotiating amendments, processing loan modifications, collecting fees and residual receipt payments, and ensuring compliance with City lending requirements;
• Overseeing regulatory compliance activities, including reviewing tenant income certifications, rent schedules, management plans, insurance coverage, physical inspection reports, and other compliance documentation to ensure adherence to affordability requirements, fair housing laws, and…