Senior Program Officer, Lending & Investments

JOB OVERVIEW:

LISC Puget Sound is advance housing, economic and racial justice by accelerating affordable housing, economic development, and wealth building opportunities. We are seeking a skilled and experienced affordable housing development professional to originate and underwrite loans, provide financial and technical assistance to LISC’s community development partners, and build and nurture such partnerships in diverse communities throughout WA State. The position will provide significant support to emerging developers and must have a strong understanding of the barrier’s developers of color face. The successful candidate should have a commitment to community-based development, experience in developing affordable housing and/or other community-based real estate development, knowledge of financing real estate projects, and an ability to share this knowledge by providing technical assistance to local groups. This is a full-time position based in Seattle, WA. Regular travel throughout the Puget Sound will be required and limited travel to other parts of WA and other states will be occasional.

Responsibilities

The Sr. Program Officer for Lending and Investment works with the Executive Director and Puget Sound team to develop and execute a program of strategic housing investments to advance the goals of LISC Puget Sound. Primary areas of focus include identifying opportunities for affordable housing development and preservation partnerships, building capacity of emerging housing developers, and designing products and policies that support the preservation and development of affordable housing.

 Principal areas of responsibility will include:

• Building partnerships: Provide project technical assistance and coaching to emerging developers and non-profit partners. Partner with Sr. Program Officer to build the capacity of Housing Equity Accelerator Fellows and Alumni. Assist non-profit and for-profit partners with real estate development and related community development strategies for neighborhood revitalization. Strengthen and expand external relationships with local and state funding agencies, private financial institutions, and other program partners. Maintain internal relationships with LISC Housing and other national and local staff and National Equity Fund.  Position LISC as a valuable resource to emerging developers by supporting the development of pipeline opportunities. Refer developers to qualified consultants or professional services to ensure that due diligence meets LISC lending standards. Expand LISC’s visibility to organizations with projects in other asset classes, such as multi-tenant commercial or non-profit facilities.
• Program Design: Develop new programs, products, and policies that advance the development and preservation of affordable housing.
• Project Investments: Originate and underwrite pipeline of LISC investments that are critical to growth of the Puget Sound lending portfolio. Underwrite project grants and lending transactions, including LISC predevelopment, acquisition, construction, and bridge loans. Assess project feasibility as well as Borrower financial capacity by conducting due diligence items and originating loans that meet LISC Puget Sound program goals. Work with national LISC credit and legal staff to manage the closing and asset management process. Work with National and local staff to develop new funding sources and engage institutional partners.
• Reporting and Communications: Prepare reports and presentations for funders and investors as needed. Assist with coordination of national LISC programs and investments in Washington.
• Perform all other duties as assigned.

Qualifications:

•  Bachelor’s Degree from an accredited college or university or relevant commensurate work experience; Master’s degree in urban planning, community development, economic development, public policy or related field preferred.
• At least 5 years of experience in community development, affordable housing development or related field, preferably in the non-profit sector.
• Demonstrated understanding of affordable housing issues in Washington State.
• Demonstrated capacity to analyze quantitative and qualitative information. Knowledge of financing products for real estate development, such as predevelopment, acquisition, construction, bridge and permanent loans; lines of credit; and tax equity. Experience in lending, project management or related field preferred. Previous underwriting experience is not required.
• Strong understanding of and experience with community development financial programs, including but not limited to Low Income Housing Tax Credits and federal and state tax credit and subsidy programs.
• Experience providing coaching, capacity building and/or technical assistance to individuals and organizations.
• Demonstrated commitment to racial equity.
• Demonstrated ability to think strategically to implement LISC’s program goals. Ability to work simultaneously on multiple tasks and projects, set priorities and coordinate with multiple internal and external parties to meet project guidelines.
• Ability to work collaboratively with others and consistently demonstrate professionalism in diverse settings, with a positive and solution-oriented outlook. Capacity to work independently as needed.
• Highly detail-oriented.
• Excellent computer skills including competency in full Microsoft Office suite.

Compensation

LISC offers a competitive salary (92,500 - $115,600; salary is commensurate with experience and location) and excellent benefits. The position is based in Seattle.