| May 22, 2024

Senior Investment Officer | New York, NY

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Website Local Initiatives Support Corporation

What We Do

With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.

Strategies We Pursue

  • Equip talent in underinvested communities with the skills and credentials to compete successfully for quality income and wealth opportunities.
  • Invest in businesses, housing and other community infrastructure to catalyze economic, health, safety and educational mobility for individuals and communities.
  • Strengthen existing alliances while building new collaborations to increase our impact on the progress of people and places.
  • Develop leadership and the capacity of partners to advance our work together.
  • Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.

Since 1979, LISC and its affiliates have invested approximately $29.7 billion in businesses, affordable housing, health, educational mobility, community and recreational facilities, public safety, employment, and other projects that help to revitalize and stabilize underinvested communities. Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 38 markets with offices extending from Buffalo to San Francisco and in 2,400 rural counties across 49 states and Puerto Rico. Visit us at www.lisc.org

Job Overview:

The New York office of the Local Initiatives Support Corporation (LISC NY) seeks a professional to fill the position of Senior Investment Officer to conduct lending in New York State. This position reports to the LISC NY Senior Director of Community Development Investments & Housing. The local New York program, LISC NY, works with nonprofit, community-based organizations to develop affordable housing, commercial enterprises and community facilities. Since its founding in 1980, LISC NY has invested over $4.0 billion, leveraging an additional $9.2 billion in low-income communities. This has resulted in nearly 48,447 affordable homes built and preserved as well as 2.9 million square feet of retail and community space created. We also invest in health, economic development, financial well-being and environmental sustainability so that the communities our partners serve are good places to live, work, do business and raise children. For more information visit https://www.lisc.org/ny/.

Responsibilities:

The Senior Investment Officer will be responsible for developing and executing a program of strategic housing and economic development investments. A primary focus of the role is sourcing transactions and managing relationships with developer partners who are working in coordination with city and state housing agencies such as the New York City Department of Housing Preservation and Development, New York State Homes and Community Renewal, and New York City Housing Authority. The successful candidate will have knowledge of the public and private resources available to leverage LISC’s investments in affordable housing and will have the skills to strategically deploy LISC’s full array of financing products such as predevelopment, acquisition, construction, bridge loans, lines of credit, and tax credit equity, working alongside LISC’s affiliate National Equity Fund. The Senior Investment Officer will also provide technical assistance and financing to LISC NY’s partners to develop projects that will ensure their neighborhoods have critical jobs, services and community assets to complement housing.

Specifically, the Senior Investment Officer will be responsible for the following:

  • Structure, negotiate, and originate a robust pipeline of affordable housing and economic development transactions that facilitate the deployment of LISC capital and technical assistance resources.
  • Originate and underwrite all types of affordable housing real estate transactions requiring LISC pre-development, acquisition, construction, or permanent loans, tax-exempt bond financing and Low-Income Housing Tax Credit (LIHTC) financing as well as New Markets and Historic Tax Credits.
  • Provide loans and technical assistance to LISC NY partners undertaking economic development related real estate projects. This includes assistance with assessing project feasibility, underwriting, developing financing strategies, lending, advising on the selection and coordination of third-party consultants, and accessing financing via public subsidies and conventional sources.
  • Present loan recommendations to LISC’s credit committee. Perform credit analysis, including analyzing borrower operating performance, project financial performance, borrower management capacity, and project feasibility of affordable housing projects.
  • Work in cross functional teams under deadlines with private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and other entities to structure and close transactions.
  • Manage key relationships with public and private sector partners. Work closely with City and State government to develop projects across all of LISC NY’s housing programs.
  • Represent LISC NY as an expert on affordable housing and economic development lending, and share best practices at conferences, trainings and events.
  • Support senior staff in identifying and pursuing new partnerships and funding relationships to provide additional resources that will allow LISC NY to expand its overall financing efforts.
  • Prepare reports and findings for investors, funders and other stakeholders as needed.
  • Performs additional duties, as required.

Qualifications:

  • Bachelor’s degree from an accredited college or university required. Master’s degree in real estate, finance, urban planning, public administration or related field preferred. Relevant work experience may be considered as a proxy.
  • At least 5 years of experience in lending, finance, community development or related field, with demonstrated experience in real estate development, particularly underwriting, deal structuring and financial analysis.
  • Familiarity with the New York City and State area market, along with familiarity with city, state and federal government financing programs, including bond and tax credit financing, available to support projects.
  • Knowledge of financing products such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax credit equity.
  • Demonstrated ability to manage multiple, complex transactions at various stages and coordinate with multiple internal and external parties to meet approval and closing deadlines.
  • Commitment to the community development sector and the critical role of nonprofit organizations in driving social change, preserving affordable housing and driving inclusive economic development.
  • Work collaboratively with co-workers and representatives from the nonprofit, corporate, philanthropic and public sectors, and demonstrated flexibility and poise in dealing with a diverse range of individuals and organizations.
  • Entrepreneurial spirit and ability to work independently on multiple tasks and projects, set priorities for a challenging workload, and be a positive, solution-oriented professional.
  • Excellent writing, financial analysis and verbal communication skills

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To apply for this job please visit boards.greenhouse.io.