Director of Housing Finance

About the position

The Director of Housing Finance is critical in securing and managing the financial resources that bring MidPen's affordable housing projects to life, guiding them from inception to completion. This role works closely with internal teams and public and private funding partners to develop financing strategies and ensure projects are well-positioned for success. With accountability for every stage of a financial project's lifecycle, the Director of Housing Finance guides decision-making to ensure long-term financial sustainability and success. This position requires a strategic, collaborative leader who excels at building relationships and fostering teamwork. Deep expertise in affordable housing finance, including underwriting, public and private funding mechanisms, and market analysis, is essential to navigate the complexities of this work effectively. By leveraging technical knowledge, financial expertise, and a partnership-driven approach, the Director of Housing Finance is pivotal in advancing MidPen's mission to create sustainable and equitable housing communities. This position also includes a seat on MidPen's Leadership Team Steering Committee (LTSC), where you will play a key role in shaping the strategic direction and organizational priorities of MidPen. As part of this influential team, your leadership will drive collaboration, innovation, and shared accountability across MidPen. This is a hybrid position, based on current MidPen policy of working Tuesdays and Thursdays in the Union City, Foster City, Oakland Office. Monday, Wednesday and Friday, option to work from home or the office. When working from home, requires a reliable internet connection.

Responsibilities

• Establish and Maintain Project Financing and Underwriting Review Strategy
• Partner with Project Teams and Directors to evaluate new projects and provide financial feasibility assessments and strategic funding recommendations
• Collaborate with the Development Department Co-Leads to align priorities and integrate financing strategies across all stages of the project lifecycle
• Review term sheets and loan documents and manage templates that establish MidPen's standards and norms, including risk management and cost-benefit analysis
• Collaborate with Development Department Co-Leads to run Development Pipeline Review to ensure alignment between financing decisions and organizational goals
• Develop and sustain existing and new relationships with lenders, investors, and state housing finance agencies to secure optimal funding terms
• Lead processes with lenders and investment proposals to achieve MidPen's preferred terms while aligning with macroeconomic trends
• Proactively identify new funding opportunities from both public and private sources
• Stay current on public financing program requirements and apply insights to optimize project pipeline strategies
• Collaborate with leadership in analysis and execution of re-syndication opportunities to maximize portfolio value
• Contribute to the annual property budget process to identify and develop portfolio solutions to align with MidPen's preservation and growth objectives
• Deliver training programs to enhance organizational understanding of housing finance and foster collaboration across departments
• Work with the Development Department Co-Leads, CFO, and Finance Team to track developer fee revenue, strategize Capital Magnet Fund applications and expenditures, and other corporate-level financing sources
• Guide Leadership through financial challenges and alignment efforts
• Oversee and refine financial modeling tools, including proforma template and term sheets, to support strategic decision-making
• Standardize and manage risk analysis frameworks and cost-benefit assessments to ensure robust financial decision-making
• Utilize data analytics and tracking tools to monitor pipeline progress, identify trends, and inform actionable insights for improved financial outcomes
• Support Policy Teams strategy on State finance regulatory issues, and help coordinate the response to new financing regulation proposals

Requirements

• Graduate or Professional degree in Urban Planning, Community Development, Architecture or related fields with an emphasis on real estate development or commensurate experience
• At least 8 years of Real Estate finance experience
• Thorough knowledge of Federal, State, Local, and Private sources of financing for low-income housing
• Ability to prepare in-depth financial feasibility analyses, conduct research, and prepare narrative reports and proposals
• Knowledge of real estate and tax law as it pertains to the development of low-income housing
• Proven ability to work effectively with lenders, investors, and public officials
• Ability to develop standard internal tax credit proformas and to train other staff in their use
• Strong leadership skills, with the ability to mentor, guide, and inspire teams across multiple departments
• Exceptional communication skills, with the ability to present complex financial data to technical and non-technical stakeholders

Benefits

• Healthcare options (Kaiser or Sutter)
• Dental insurance
• Vision insurance
• Life & disability insurance
• 403(b) retirement investment opportunity
• Annual financial literacy and retirement planning options
• FSA for childcare, medical and commuter benefit options
• Employee Assistance program
• Pet insurance
• 14 paid company holidays
• 4 paid wellness days
• Up to $3,000 annually for education assistance with tuition reimbursement and/or loan debt relief
• Paid time off parental leave benefit of 12 weeks in a 12-month period