Job Information
NYS Housing Trust Fund Corporation Asset Manager in Albany, New York
New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State. HCR consists of all the major housing and community renewal agencies of New York State, which were merged and integrated under a single management structure.
Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo, and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low- and moderate-income families. Our mission is far reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.
Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, architecture, finance, law and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement and family-friendly policies.
New York State Homes and Community Renewal currently offers the possibility of a hybrid workplace through our Telecommuting Pilot Program. Participation in this program requires an application process that must be approved. Participation is not guaranteed.
The successful candidate will:
Position Summary:
Be responsible for the comprehensive compliance monitoring of a designated portfolio of HCR funded projects including Low Income Housing Tax Credit (LIHC), Housing Trust Fund (HTF), Turnkey (TKEY), and HOME within the SAMU portfolio for regulatory compliance, physical and financial status, and habitability standards.
Duties and Responsibilities:
Interact frequently with owners and property managers regarding the operation and management of the property.
Perform periodic site inspections and management evaluations as required by the project's regulatory agreements and Agency policies.
Implement and enforce the Agency's regulatory requirements regarding financial reporting, property use restrictions, analyzing leases and the low-income unit set aside requirements.
Develop recommendations to enhance the long term financial and physical health of projects assigned to the Asset Manager.
Review financial and operating reports submitted by project owners.
Upon request, submit periodic Physical and Financial Status reports to SONYMA/MIF or rating agencies.
Review project operations and record keeping for compliance with applicable laws and regulations.
Prepare field reports, correspondence, and corresponding follow-up to site visits.
Instruct managing general partners, managing agents and site staff on proper management practices for improving overall operation and compliance with applicable program requirements.
Assist in the processing of HTFC legal transactions which include General Partnership Changes/Transfers, Project Sales and Refinance requests from our external partners, and quarterly FHEO submissions to the Governor's office.
Minimum Qualifications and Desired Skills:
Requires minimum of 3 years’ experience in property management of affordable housing which may include real estate finance and/or accounting.
Bachelor’s degree in real estate finance, accounting, or business administration preferred.
*Substitutions: four years of specialized experience or associate’s degree and two years of specialized experience may substitute for bachelor’s degree; J.D. or master’s degree may substitute for one year of specialized experience; Ph.D. may substitute for two years of specialized experience.
Instructions for Applicants
Applicants must include a cover letter and resume for review. Applicant must describe in a cover letter how the applicant meets the minimum qualifications, and how the work experienced outlined in the accompanying resume relates to the available position.
New York State is an Equal Opportunity Employer (EOE)