New Markets Manager

CAHEC is a community investment organization that strengthens communities by providing affordable housing and supportive service initiatives to residents in the Southeast and Mid-Atlantic regions. CAHEC engages in diverse product areas, including low-income housing tax credits, historic tax credits, new markets tax credits (“NMTC”), and renewable energy credits. Additionally, CAHEC offers loan programs, wellness and education initiatives for residents, affordable housing development, and property management services.

The New Markets Manager is responsible for managing the day-to-day operations of CAHEC’s New Markets Tax Credit program, supervision of third-party professionals, and assisting leadership in strategic planning and budgeting. The position is responsible for implementing and administering CAHEC’s New Markets Tax Credit program and other assigned initiatives. Duties include seeking prospective investments, financial modeling and analysis, due diligence, negotiations and transactions closings, program compliance and reporting, investor relations, project asset management and compliance, community engagement, preparation of NMTC applications, maintenance of proper corporate governance, and management of third-party professionals. The employment classification for this position is exempt.

Some Specific Functions Include

• Manage the day-to-day program and business operations of CAHEC’s NMTC program.
• Collaborate with leadership to develop strategic goals that support CAHEC’s mission and align with NMTC industry and program standards.
• Lead and manage all aspects of NMTC allocation applications including but not limited to engaging third-party professionals, preparation, strategy development, project pipeline sourcing, writing, and submission.
• Lead the origination, evaluation, underwriting, closing, disbursement, and construction monitoring of NMTC loans.
• Establish and maintain new and existing relationships with sponsors/developers, community and industry organizations, consultants, and investors.
• Lead NMTC asset management, compliance monitoring, and reporting to ensure sound portfolio management, NMTC program and investment compliance, and adherence to investment and loan documents.
• Ensure, with assistance from legal counsel and CAHEC staff, proper corporate governance for CAHEC New Markets and its subsidiaries.
• Provide leadership and guidance to cross-functional internal and external teams involved in CAHEC’s NMTC program and investments.
• Positively promote and demonstrate CAHEC’s mission and Principles and Values through performance and interactions with internal staff and external partners.
  
  

Education Requirement

Bachelor’s degree in real estate, finance, business, city planning, or economics. Or, an equivalent combination of education and comparable work experience. Master’s Degree in real estate, finance, business, city planning, or economics preferred.

Work Experience

Minimum three (3) years’ of progressively responsible work experience in (i) real estate development transactions, (ii) finance and investment modeling, and (iii) partnership legal and taxation principles.

Minimum one (1) year of progressively responsible work experience relevant to the management functions of supervising and coaching direct reports, managing third-party professionals, strategic planning, corporate governance, and budgeting.

Direct experience with the NMTC program related to application writing and investment originations and closings is preferred.

Knowledge, Skills, And Abilities

General knowledge of commercial real estate development, construction, corporate and partnership legal and taxation issues, commercial real estate lending, and financial management principles, including specific requirements for tax credit programs, including Low Income Housing and Historic. Intermediate knowledge of the New Markets Tax Credit Program and ability to gain and apply advanced knowledge of the program. Proven ability to analyze and develop complex financial models. Proven ability to navigate challenges, lead difficult conversations, and resolve conflicts with tact and diplomacy. Proven ability to manage multiple, concurrent priorities and easily adapt to changes to meet established timetables. The position requires excellent written and verbal communication, negotiation, and risk management skills.

Work Environment

This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for this position. Certain objectives require working on-site at various locations, such as to potential investments and properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel. CAHEC ‘s current hybrid work benefit offers eligible positions the opportunity to work remotely with a minimum of four days per month working in our Raleigh office. This current benefit is evolving for more collaboration and will be changing in 2025 to a minimum of three days per week working in the Raleigh office.

Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation package which is based on a hiring range that is commensurate on experience, education, and level of responsibility. CAHEC also offers a very competitive benefits package.

CAHEC’s Diversity Statement: We envision our workplace as a community. A place where there is a foundation committed to fostering diversity, equity, and inclusion, creating an intentional culture where all values and ideas are embraced and employees can bring their authentic selves to work, and to instill a sense of belonging by creating an environment where all employees will thrive.

For more information and how to apply: please visit www.cahec.com.