Job Information
New Jersey Housing and Mortgage Finance Agency Supervisor of Tax Credit Compliance in Trenton, New Jersey
Supervisor of Tax Credit Compliance
Location Trenton, NJ
Job Code 752
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NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Supervisor of Tax Credit Compliance
Salary Range: 12
Division: Multifamily/Supported Housing and Lending
FL Status: Exempt
Issue Date: 10/28/24
Closing Date: 12/14/24
Union Status: Non-Union, Exempt
Employment Status: Full time
JOB DESCRIPTION
Under the supervision of the Manager of Tax Credit Compliance, supervise the compliance monitoring process and assist in marketing the tax credit programs. Perform duties related to compliance monitoring of the federal Low-Income Housing Tax Credit program (LIHTC); work with management on the Compliance Manual and handle a small portfolio of LIHTC projects. Review owner notification letters and compliance documentation for properties in the Extended Use Period. Prepare information for housing sponsors and other professionals, provide guidance and training to staff regarding Federal and State LIHTC requirements, and conduct presentations at conferences and seminars. Perform other related duties as requested.
Job Duties and Responsibilities
Supervise the compliance monitoring process; train assigned staff on processes and procedures as required. Assign, supervise, and instruct subordinates in their work.
Review and execute Annual Compliance and File Audit/Physical Inspection owner notification letters for properties in the Extended Use Period and maintain Master Logs accordingly.
Review and execute Rent Increase memos for properties in the Extended Use Period as requested by Asset Management.
Monitor a small portfolio of LIHTC projects and ensure receipt of compliance monitoring fees annually for properties in the Extended Use Period.
Make recommendations for follow-up re-inspection of properties in the Extended Use Period as needed.
Assist in the preparations of the Compliance Manual.
Update the LIHTC Master List with newly awarded projects.
Conduct research relative to LIHTC program legislation that may impact the LIHTC or Aspire program and keep abreast of changes to Section 42 of the Internal Revenue Code, its regulations, notices, letter rulings, revenue procedures, and rulings.
Review and execute Developer and/or Sponsor Experience Certification forms.
Assist with MITAS Web Development.
Provide information, guidance, and training to assigned staff, other in-house personnel, housing sponsors, and other professionals regarding Federal and State LIHTC requirements and HMFA processes.
Conduct presentations at conferences and seminars as requested and assist with both Agency-provided LIHTC trainings each year.
MINIMUM REQUIREMENTS
Education / Experience:
Four (4) year college degree in Business Administration, Political Science or related field; five (5) years of experience in housing finance; or an equivalent combination of education and experience that meets the required knowledge, skills and abilities.
Skills:
Knowledge of Federal, State, and local housing programs including but not limited to the following programs: LIHTCs, historic tax credits, Farmer's Home Administration, Section 8, Community Development Block Grant Program, HOME, Rental Rehabilitation, Balanced Housing, and Aspire.
Knowledge of computer programs.
Knowledge of HMFA statutes, regulations, and underwriting criteria.
Knowledge of LIHTC applications software.
Ability to supervise the work performance of others.
Ability to work independently and accomplish multiple assignments simultaneously within strict time frames.
Ability to communicate effectively orally, in writing and listening.
Ability to organize assignments.
Physical Demands: Non-physical
Working Conditions: General office environment
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
Medical, prescription, dental, vision & long term disability
FSA & HSA
Public Service Loan Forgiveness and Tuition Reimbursement
Public Employees' Retirement System (PERS)
Deferred compensation plans
Employee assistance services (EAS)
State employee discounts program
Paid personal, sick and vacation days
Paid holidays
Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
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