Locations: Detroit, MI; Madison, WI; Wilmington, DE
Job Function: Finance
Who we are
Cinnaire is a mission-driven organization. Our team of more than 130 individuals are united by our core purpose. As dedicated problem solvers, we start each day thinking ‘what kind of difference can we make in people’s lives today?’ and then go about revitalizing communities, empowering individuals and creating economic opportunities.
What we do
We get involved. We spend time on the ground in the communities we serve, getting to know the people, understanding their challenges, and devising out-of-the-box solutions. Ours is a people-first approach to advancing communities. As a community development financial organization, we provide creative capital solutions to projects with high social value that may not otherwise receive support from traditional financial institutions. Our toolkit of services includes programs that lend funds, finance development and manage and build all the components of healthy communities.
How we do it
We help community development organizations, lending partners and socially motivated investors accomplish goals in underserved communities. We fill gaps in community development funding by leveraging capital from public and private sector organizations and bringing expertise to communities that need it most.
Where we serve
Since 1993, Cinnaire has funded affordable housing developments and community development initiatives throughout the Midwest and Mid-Atlantic states. Headquartered in Lansing Michigan, we have offices in Detroit and Grand Rapids, MI:, Milwaukee and Madison, WI; Chicago, IL; Indianapolis, IN; and Wilmington, DE, while providing financial and development support across our nine-state footprint including Michigan, Wisconsin, Minnesota, Indiana, Illinois, Pennsylvania, New Jersey, Delaware and Maryland.
The Development Analyst assists in the underwriting of real estate debt and investments related to affordable housing and works to ensure excellent and efficient delivery of service to its Cinnaire Solutions team member(s).
- Prepares, evaluates and updates financial proformas and cash flow models for potential real estate developments.
- Determines initial feasibility, sizing and structure of proposed developments.
- Analyzes market studies and/or appraisals and conducts independent market research as necessary.
- Identifies and analyzes potential underwriting issues and mitigants associated with potential loans or investments.
- Maintains the integrity and accuracy of Cinnaire Solutions’ developments.
- Works with Development Managers and Development Associates on applications for LIHTC and supportive (gap) financing.
- Effectively communicates internally among and between teams and externally with partners, lenders, and syndicators, and stays up to date on underwriting guidelines for HFAs and other funders.
Qualifications and Skills:
- Bachelor’s degree in finance, economics, business or real estate/urban planning.
- Strong Microsoft Suite skills required.
- Ability to model a variety of real estate transactions including LIHTC, NMTC, bond financing, and financial investments including expected cash flow and return.
- Strong organizational skills and attention to detail with the ability to manage multiple projects simultaneously.
- Prior experience and/or knowledge of financial programs and products designed to expand the availability of affordable housing or community economic development is a plus but not a requirement. Such programs include Low Income Housing Tax Credits, New Market Tax Credits, Federal and State Historic Tax Credits, Federal Grants from the Department of Housing and Urban Development, Fannie Mae lending, and other CDFI resources.
- Valid driver’s license.
- Analysis to Synthesis: Interprets data and information from multiple sources and translates it into coherent messages that inform decisions.
- Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
- Resource Optimization: Applies knowledge of internal structures and existing talent to accomplish a goal.
- Insight to Action: Acts on conviction and advances from concept to implementation toward a goal. Draws upon knowledge and professional judgement to orchestrate the steps required to get results.
Reporting Relationship: Reports to Vice President, Development
Supervisory Relationship: None
- The ability to sit at a computer for extended periods of time.
Travel Required: 15%
Compensation and Benefits
Cinnaire offers a competitive compensation package.
How to Apply