Job Opening: Director of Distressed Asset Preservation, New York State Homes and Community Renewal

Job Title: Director of Distressed Asset Preservation

Location: New York City 

Position Summary: The Director of Distressed Asset Preservation (DAP) is a senior level position in the Office of Community Renewal – the State’s integrated housing agency. This position is responsible for contributing to the success of the Agency by actively identifying portfolios of “at risk” housing that also present opportunities for acquisition and recapitalization and will lead to stabilizing neighborhoods and to an increase in decent, safe and high-quality housing. The DAP will identify thematic areas where HCR resources can be brought to bear to address existing distressed rental housing. The estimated starting salary for this position is $120,000.

Duties and Responsibilities include, but are not limited to:

This job description is not intended to be all inclusive and the employee will be expected to perform other reasonably related duties as assigned.

·       Relationship building and cultivation of a “bench” of responsible preservation partners; i.e. responsible for profit and non-profit developers who are willing to manage, own and operate formerly at-risk rental housing in each of the areas mentioned above:

·       Identify opportunities to preserve at risk or for sale manufactured home communities. Work with local stakeholders to identify capital needs and to package funding sources (both public and private) for acquisition and revitalization. 

·       Work with units of local government to identify innovative solutions to addressing distressed "zombie homes" including creative ways to fund demolition and infill programs that promote stable and vibrant communities.

·       Maintain regular communication with community organizations, legal service provides, and city and state enforcement agencies to establish early indicators for identifying at risk housing and specific pathways for achieving preservation outcomes.

·       Assist in the evaluation of project feasibility and eligibility of proposed projects through financial review and analysis.

·       Work with potential perseveration partners to connect them with the right subsidy programs at the local level and within HCR.

·       Prepare written materials to secure internal project approvals for Credit Committee and Board.

·       Collaborate with Finance and Development colleagues to assess experience of developer, contractor and property managers.

·       Act as Agency liaison to developers, financial institutions, syndicators, other project partners, and governmental agencies to resolve problems and move projects forward in a timely fashion.

·       Counsel developers through HCR policies, regulations, and assisting to resolve issues related to project approval.

·       Assist HCR’s Executive Team in coordinating special projects, as needed.

·       Identify new areas and program proposals that will enhance HCR’s work in the arena of preserving at-risk housing. 

Minimum Qualifications and Desired Skills

  • Master’s Degree in Business, Finance, City Planning/Public Policy or related field – and 6+ years’ relevant experience.

  • Proven track record of expertise in state and federal housing and community and economic development programs and all relevant governmental regulations.

·       Quantitative skills including expertise in Excel.

  • Demonstrated ability and willingness to be part of a team.

For more information, see the Attached Document