PRA Program Manager - Housing Trust - Limited

Providence County RI
US - Rhode Island - Providence
February 1, 2025

The City of Providence welcomes and encourages diversity in our workforce at all levels of the organization. We provide equal employment opportunities to all employees and applicants for employment and prohibit hiring discrimination of any type. All City hiring decisions are made without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.

Job Summary

Under the general supervision of the Executive Director of the Providence Redevelopment Agency (PRA) or his/her Designee, the Program Manager is responsible for internal day to day operations of the Providence Housing Trust Fund. The Manager will provide technical support to assess project applications for the acquisition, predevelopment, construction, and financing of affordable housing in real estate projects. Duties include, but are not limited to:

Duties & Responsibilities
• Application Intake & Assessment:
Manage and assess applicant pool in coordination with PRA and City staff to track borrower qualification process, project feasibility, and funding determinations. Coordinate solicitations for projects and collect application-related fees.
• Loan Underwriting:
Develop, negotiate, and manage key terms and conditions resulting in gap lending structures to support the development of affordable housing (under 80% AMI). Track and process preclosing documentation with closing counsel through recording of legal documents and disbursement of funds in accordance with budgetary/requisition guidelines.
• Contract Compliance & Monitoring:
Responsible for organizing documents to maintain internal closing checklists for distribution to various departments. Coordinate with applicant and third-party members to ensure development and execution of post-closing contracts meet approved terms through project construction and lease-up phases, provide instruction and decisions via agency recommendation memoranda.
• Loan Applicant Support:
Troubleshoot and problem-solve application, closing, contract, construction, and project schedule-related issues, including technical assistance and structure amendments, when necessary.
• Program Reports:
Oversee data collection, program outcome, closure reports, and analysis to fulfill agency reporting requirements related to bond regulations, loan procedures, public reports, or internal metrics reviews.
• Coordination of Underwriting:
Assist PRA to ensure that each application receives an underwriting review and credit memorandum recommendation for Board approval or denial. Ensure consistency with internal and external partner investments and all applicable requirements are met prior to issuance of a commitment letter.

Knowledge/Experience:

The ideal candidate is an individual with demonstrated understanding of multifamily/rental housing development.

Ideal candidate must be a highly-organized individual and able to work with multiple projects, deadlines and other complex situations. Must have the capacity to work with minimal supervision and the ability to exercise independent judgement within existing program guidelines.

The candidate must possess superior oral and written communication skills, as well as ability to facilitate meetings, and present on strategies, plans, data, and project progress. Selected candidate must be proficient in the use of computer word processing, spreadsheet and database programs, as well as internet and email.

Previous work with a Housing Trust Fund is desirable, but not required. Understanding of residential and/or commercial underwriting procedures and processes desirable.

This position requires program management skills and in-depth knowledge of affordable / housing, construction lending, federal, and state funding grants and sources. Funding programs related to housing include but are not limited to:
Community Development Block Grant Program (CDBG), American Rescue Plan Act (Treasury SLFRF), HOME Investment Partnerships Program (HOME) and Low-income Housing Tax Credit Program (LIHTC). Projects may include complex, layered financing through public-private partnership.

Minimum Qualifications

Any combination of training and experience that would provide the required knowledge, skills, and abilities would qualify. Candidates must exhibit clear expertise and work history through formal education, portfolio or program development.

Posting expires when position is filled.

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