- Assist the acquisitions team in underwriting affordable housing subsidies available for prospective acquisitions, including real estate tax exemptions, HUD HAP contract and vouchers, Low Income Housing Tax Credits and tax-exempt bond financing.
- Review the relevant state QAP’s to ensure underwriting is consistent with the issuer requirements, including renovation requirements, energy efficiency improvement thresholds and underwriting parameters.
- Serve as the primary point of contact with HUD for all HAP contract transfers for potential acquisitions, including mark-to-market and Chapter 15 renewals.
- Complete applications for tax-exempt bonds in connection with LIHTC awards and ensure applications are in compliance with underwriting and regulatory requirements. Serve as the primary contact for issuer underwriters to ensure timely approval of applications.
- Review existing regulatory agreements on potential acquisitions and effectively communicate the restrictions to the acquisitions team, including rental rates and income restrictions.
- Summarize ongoing reporting requirements for new acquisitions to the Asset Management teams to ensure ongoing compliance.
- Identify local, state, and national solar and water rebate programs available for energy efficient or utility savings upgrades for affordable or market rate assets nationwide. Communicate requirements to acquisitions or asset management teams and oversee applications and award of rebates.
- Attend HUD and LIHTC industry events to understand changes with HUD and LIHTC programs in states where Reliant operates, as well as identify new programs that may be beneficial to our acquisitions platform.
- Perform investment due diligence and provide analytic support to the investment committee.
- Research select real estate markets for acquisition opportunities in the affordable housing space.
- Assist in special assignments on an as-needed basis.
KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED:
- Ability to understand and explain complex affordable housing documents, including but not limited to regulatory agreements, HUD HAP contracts, bond documents and any additional regulatory documents that may restrict a property’s use.
- Knowledge of the tax credit and Section 8 program regulations.
- Knowledge of affordable housing tax exemptions available across the U.S.
- Ability to independently manage numerous projects simultaneously.
- The desire to work in an entrepreneurial, fast-paced environment.
- Commitment to excellence and attention to detail.
- Research skills an absolute must.
- Excellent analytical and organizational skills with the ability to meet deadlines.
- Strong oral and written communication skills.
- Fair Housing and other applicable certifications ideal.
- Due Diligence
2+ to 5 years
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