[Hiring] Vice President of Development @Kittle Property Group

Role Description

The Vice President – Development provides strategic leadership and oversight of a portion of the company's affordable housing development activities, with a primary focus on multifamily developments utilizing 4% Low-Income Housing Tax Credits (LIHTC) and bonds.

• Lead, motivate and develop all direct reports.
• Recruit, onboard, and train new team members based on open positions and as positions become open resulting from promotion or turnover.
• Establish clear expectations, performance standards, goals, and priorities for Development Directors (DD) and Director of Real Estate Closings & Entitlements (DRECE), monitoring individual performance against closing and development pipeline goals.
• Ensure team members maintain accountability for their individual development pipelines, development milestones, and closing objectives.
• Regularly review development pipeline and associated timelines with team members and provide strategic direction on priorities, risks, opportunities, and next steps.
• Identify ways to maximize performance of the team to generate a pipeline that meets or exceeds corporate objectives on an annual basis.
• Evaluate developments for feasibility by working with SVP and other departments.
• Maintain visibility into the company's short- and long-term development pipeline and anticipated closings.
• Assist team in resolving complex issues and removing obstacles that could impact development feasibility or closing.
• Ensure the Development Directors effectively evaluate and pursue available federal, state, and local funding sources.
• Conduct weekly one-on-one meetings with team members and check-in meetings as needed to review the development process.
• Ensure consistent use of development systems, tracking tools, reporting processes, and documentation standards to meet required development milestones.
• Responsible for oversight of team workstreams and provide back-up coverage as needed.
• Review financial feasibility of proposed developments including pro forma analysis, profitability analysis, and internal rate of return analysis.
• Review internal and external financing packages including Investment Committee, Low-Income Housing Tax Credit, Tax Exempt Bond, HOME, CDBG, FHLB / AHP grants, construction and permanent financing, and equity syndication or other appropriate funding sources.
• Foster a culture of accountability, collaboration, problem-solving, and continuous improvement.
• Represent KPG and actively participate in state membership organizations.
• Maintain excellent working relationship with Federal and State agencies, PHA’s, community based organizations, and other private and public agencies in the industry.
• Maintain a strong working knowledge of LIHTC regulations, Qualified Allocation Plans, tax-exempt bond financing, and other affordable housing financing programs.
• Attend select State Housing Agency conferences and networking events based on business/pipeline needs and priorities to stay abreast of industry trends.
• Other duties as assigned.

Qualifications

• Bachelor's degree required. Master’s degree preferred.
• 10+ years of experience in affordable housing.
• Strong leadership skills through demonstrated experience required.
• Section 42 low-income housing tax credit development experience required.
• Personally identified sites, received affordable housing financing (9% or 4% credits), and closed on at least ten (10) developments, strongly preferred.
• Ability to evaluate complex development opportunities and identify key risks and opportunities.
• Broad knowledge of community needs and intergovernmental relationships.
• Exceptional interpersonal skills with a variety of external entities.
• Ability to read, write, interpret, and analyze business publications, technical procedures, and government regulations.
• Ability to work with concepts such as internal rate of return (IRR), net present value (NPV), and various other valuation metrics.
• Ability to solve problems and work with a variety of concrete variables.
• Advanced experience with MS Office.
• Must be a team player and be able to multi-task while remaining flexible.
• Must be willing to travel up to 10% of the time.

Requirements

• Ongoing professional development, including leadership development.

Physical Demands

• Rarely must stand, walk, climb, balance or stoop, kneel, crouch, crawl, bend or lift up to twenty-five (25) pounds.
• Rarely must be exposed to outdoor weather conditions.
• Occasionally must use hands to finger, handle or feel; reach with hands or arms.
• Regularly must sit, talk, and hear.
• Close and distance vision is required. Color vision is recommended; however, accommodation can be made.

Work Environment

Normally works in an environment with moderate noise.