The Asset Manager is responsible for representing the owner’s interests and maintaining the housing stock, and commercial properties, for Hacienda CDC. The portfolio is comprised of properties financed with diverse funding streams including Low Income Housing Tax Credits (LIHTC), HOME, United States Department of Agriculture (USDA), Housing Urban Development (HUD)-Section 8, and other affordable housing financing. The position serves as the primary contact for investors, lenders and regulatory agencies for the purpose of compliance and reporting. The position interfaces closely with Hacienda CDC’s Finance Department and Housing Development Department.
Hacienda CDC’s housing portfolio consists of nine affordable multi-family complexes, with a total of 381 affordable housing units. Seven of these properties are in the Cully neighborhood in N.E. Portland, one North Portland, and one in Molalla.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Property Management Oversight and Property Performance – 40%
- Provide direct oversight of third-party property management, including negotiating contract terms, and preparing and modifying policies
- Evaluate property management performance against benchmarks to ensure optimum property performance and compliance with regulatory agreements and loan covenants.
- Conduct site inspections to determine the physical condition and results of property management activities
- Manage cash flow tracking systems, analyze performance against annual operating budgets, research variances, and implement operational changes
- Build annual operating budgets with property management agent
- Develop and maintain replacement reserve analyses for the portfolio, and process replacement and operating reserve draws
Compliance and Reporting – 40%
- Maintain compliance charts for all properties
- Provide oversight of the preparation and submission of required compliance reporting
- Manage property files, loan documents, partnership agreements, operating manuals and property management plans
- Develop, provide, and present reports, performance dashboards and other similar materials as required by various stakeholders
- Maintain effective relationships with community and industry groups, including partners, investors, lenders and regulatory bodies
- Work with the Finance Department to review and deliver audits to required parties
Collaboration with Housing Development Department – 10%
- Work in collaboration with Housing Development staff as properties transition from the development stage to project stabilization
- Work in collaboration with Housing Development Department and/or Property Management Company to resolve any construction defect litigation and other litigation
- Develop Asset Management Plans for units under development
- Assist with developing operating budgets for new and rehabilitated developments
Other – 10%
- Participate in various external working groups dedicated to community development and/or asset management
- Attend bimonthly Board of Directors meetings
- Compile required data and submit annual tax exemption applications for Multnomah and Clackamas counties
- Annually review and renew property insurance coverage with broker
- Other duties as assigned
At this time, there are no staff supervisory responsibilities for the Asset Manager, however, this position is the main point of contact for the property management agent, professional services consultants, limited partners, lenders, investors, etc. The Director of Housing Development shall serve as interim supervisor for the Asset Manager.
SKILLS, EXPERIENCE, AND EDUCATIONAL REQUIREMENTS
- Bachelor’s degree in finance, real estate, or related field
- Minimum of 4 years’ experience in asset management with a background in affordable housing preferred. A Master’s degree in Business, Real Estate or Finance may be substituted for experience.
- Proficiency in Word, Excel, and Outlook
- Excellent oral and written communication skills
- Ability to read, interpret, and present financial data
- Ability to effectively prioritize tasks and work independently
- Ability to handle sensitive and confidential information
- Ability to work with diverse cultures and aptitudes
- Ability to maintain up to date knowledge/training critical for the position
- Bilingual English/Spanish preferred
This is an exempt position. Weekend and evening hours may be required on occasion. Some travel required; reliable transportation necessary.
All positions at Hacienda CDC are at will and subject to annual performance evaluations. It is expected that the person in this position will contribute to the development of best practices and initiatives that advance the mission of Hacienda CDC.
$50,000-$60,000 annual salary, depending on experience and/or education, plus a robust benefits package. Benefits package includes: medical, dental, vision, alternative health care, section 125 flexible spending account, 401(k) with the option for up to a 2% company match, employee assistance program, life insurance, long-term disability, AD&D, vacation, sick, holidays, and personal days.
HOW TO APPLY
To be considered for this position, please submit the following to HR@HaciendaCDC.org:
- Cover letter
- Three references
Position opened until filled.
Hacienda Community Development Corporation is an Equal Opportunity Employer and does not discriminate based on religious affiliation, marital status, disability, national origin, citizenship, age, race, color, creed, sexual identity, gender identity, military status, or any other basis protected by federal, state, or local law. In compliance with the American’s with Disabilities Act, the Agency will provide reasonable accommodations to qualified individuals with disabilities.