About the Job
The New York City office of the Local Initiatives Support Corporation (LISC NYC) seeks a professional to fill the position of Community Development Officer for Impact Development & Real Estate Lending. This position reports to the LISC NYC Executive Director, and will work closely with the Senior Community Development Officer – Impact Development and Real Estate Lending. The local New York City program, LISC NYC, works with nonprofit, community-based organizations to develop affordable housing, commercial enterprises and community facilities. Since its founding in 1979, LISC NYC has invested over $2.7 billion, leveraging an additional $6 billion in low-income communities. This has resulted in nearly 40,000 affordable homes built and preserved as well as 1.8 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 http://programs.lisc.org/nyc/.
The Community Development Officer for Impact Development & Real Estate Lending will be responsible for growing LISC NYC’s pipeline of “impact development” initiatives, real estate projects that drive neighborhood economic development. This position will support our nonprofit partners to develop projects that will ensure their neighborhoods have critical jobs, services and community assets to complement housing. Examples include health care centers, business incubators, multi-tenant industrial buildings and “maker spaces,” community centers and arts and culture venues.
Specifically, the Community Development Officer for Impact Development & Real Estate Lending will:
• Work with the Executive Director and Senior Community Development Officer for Impact Development & Real Estate Lending to refine LISC NYC’s strategic approach to impact development, identify opportunities and partners, and match financing tools to impact development project needs. Work with LISC NYC’s senior team to explore potential to add business lending to the mix of loan products offered to partners.
• Develop and manage relationships with impact development partners including community-based organizations, elected officials, mission-driven developers, impact investors, financial institutions and local, state, and federal agencies.
• Provide lending and technical assistance to LISC partners undertaking economic development related real estate projects. This includes assistance to project sponsors with LISC loan products, assessing project feasibility, underwriting, developing financing strategies, selecting and coordinating third party consultants, and accessing financing via public subsidies and conventional sources.
• Conduct financial modeling for all types of real estate transactions and identify potential sources of financing including pre-development loans, construction and permanent loans, tax-exempt bonds, IDA bonds and New Market Tax Credits.
• Provide technical assistance to partner organizations and connect them with expertise and resources from LISC National programs such as small business lending, creative placemaking, and MetroEdge; LISC affiliates such as the New Market Support Corporation; and external consultants.
• Work closely with public sector agencies to identify and make available new resources for impact development projects and develop policy solutions for impact development needs.
• Contribute to LISC NYC’s thought leadership on impact development as a means of generating middle skills jobs that provide economic mobility for low-and moderate-income people.
• Facilitate learning and sharing of best practices within the field of impact development.
• Work under deadlines with cross-functional teams of private and nonprofit real estate developers, attorneys, governmental agencies, lenders, equity investors and title companies to structure and close impact development transactions.
• Ensure integration of impact development activities with LISC NYC’s housing, economic development and other programmatic efforts by collaborating and cross-learning with LISC team members and community-based partners.
• Bachelor’s degree required. Master’s degree in real estate, finance, urban planning, or related field is highly preferred.
• At least 3-5 years of experience in real estate development or real estate lending is required. Proven ability to take a project idea to completion and to creatively solve problems. Proven skills in financial analysis, including ability to read project pro formas and organizational financial statements.
• Commitment to the community development sector and the critical role of nonprofit organizations in driving social change and preserving the unique cultural heritage of neighborhoods.
• Entrepreneurial spirit and ability to work independently on multiple tasks and projects, prioritizing a challenging workload.
• Deep knowledge of NYC-area real estate market and building public-private partnerships. Familiarity with city, state and federal financing programs a must.
• Ability to work collaboratively with others. Flexibility and poise in dealing with a diverse range of individuals and organizations.
• Excellent writing and verbal communication skills are essential. Exceptional skills in Word and Excel a must.
Please send cover letter and resume via e-mail to:
501 Seventh Avenue, 7th Floor
New York, NY 10018
LISC IS AN EQUAL OPPORTUNITY EMPLOYER
COMMITTED TO DIVERSITY AND INCLUSION
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
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
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.
Drive local, regional, and national policy and system changes that foster broadly shared prosperity and well-being.
Over the last 38 years, LISC and its affiliates have invested approximately $20 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. These investments have leveraged more than $50 billion in development activity and helped families and communities raise their standards of living. LISC investments impact the lives of nearly 7 million Americans.
Headquartered in New York City, LISC’s reach spans the country from East coast to West coast in 31 markets with offices extending from Buffalo to San Francisco. Our rural programs make an impact in 44 states, and are supported by LISC’s talented and dedicated workforce. Visit us at www.lisc.org