Company: Local Initiatives Support Corporation
Location: New York, NY
Job Function: Community Outreach
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.
Over the last 40 years, LISC and its affiliates have invested approximately $24 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
LISC IS AN EQUAL OPPORTUNITY EMPLOYER COMMITTED TO DIVERSITY, EQUITY, INCLUSION AND JUSTICE
The New York City office of the Local Initiatives Support Corporation (LISC NYC) seeks a professional to fill the position of Community Development Officer to conduct lending in New York City’s five boroughs. This position reports to the LISC NYC Director of Community Capital Investments. 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 $3.0 billion, leveraging an additional $7.6 billion in low-income communities. This has resulted in nearly 42,000 affordable homes built and preserved as well as 2.5 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://www.lisc.org/nyc/
The Community Development Officer will work with the LISC NYC Director of Community Capital Investments to develop and execute a program of strategic community capital investments to advance the objectives of LISC NYC’s strategic plan. A primary focus of the role is sourcing community development real estate transactions and managing relationships with nonprofit and for-profit developer partners who are working in coordination with city and state economic and community development agencies. The candidate will have knowledge of the public and private resources available to leverage LISC’s investments and will have the skills to strategically deploy LISC’s full array of financing products such as predevelopment, acquisition, construction, and bridge loans, lines of credit, and tax credit equity, working alongside LISC’s affiliates National Equity Fund and the New Markets Support Corporation.
While primarily responsible for Housing-related projects, the Community Development Officer will work in collaboration with other LISC NYC staff and may collaborate on mixed-use projects as well as participate in cross-training /cross-learning opportunities.
Specifically, the Community Development Officer will be focused on the following:
- Develop and manage relationships with local development partners including community-based organizations, mission-driven developers, financial institutions and local/state, agencies in order to grow LISC NYC’s pipeline of housing and other community infrastructure real estate projects that foster inclusive economic development.
- Provide loans and technical assistance to LISC NYC partners undertaking housing and other community infrastructure 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. 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, and New Market Tax Credits.
- Connect partner organizations with expertise and resources from LISC National programs such as small business lending, creative place-making, and economic development; LISC affiliates such as the New Markets Support Corporation; and external consultants.
- 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 development transactions.
- Support senior staff in identifying and pursuing new partnerships and funding relationships to provide additional resources that will allow LISC NYC to expand its overall financing efforts.
- Design transaction and investment vehicle structures that meet the financial and operational goals of all partners and respond to LISC’s credit requirements while meeting the needs of our partners in the communities LISC NYC serves.
- Collaborate with LISC National staff in a variety of program and administrative areas to produce fund structures and guidelines that are technically feasible and efficient to implement and operate.
- Prepare reports and findings for investors, funders and other stakeholders as needed.
- Work with LISC NYC staff to develop and implement programs that apply LISC’s technical assistance and financing capabilities to solve critical challenges identified through LISC NYC’s strategic planning process.
- Performs additional duties, as required.
- 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.
- Minimum 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 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 and preserving affordable housing.
- Ability to 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 and solution-oriented workload.
- Excellent writing, financial analysis and verbal communication skills required.
Compensation and Benefits
LISC offers a competitive total compensation package, including salary and excellent fringe benefits (health, dental, vision, and retirement plans).
How to Apply
Please send cover letter and resume via email to firstname.lastname@example.org and include “Community Development Officer” in the subject line of your email.