About the Agency:

The New York City Department of Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

- We maintain building and resident safety and health
- We create opportunities for New Yorkers through housing affordability
- We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.________________________________________

Your Team:

HPD’s Office of Policy and Strategy (OPS) leverages its expertise to guide and support HPD and its many offices in their efforts to deepen their impact, optimize their efficiency, and become more data-driven, climate-adaptive, and mission-focused. The Division of Credit & Valuation (DCV) within OPS assesses and establishes the financial value, risk and feasibility associated with HPD projects, programs and policy proposals.

Your Impact:

Within DCV, the Credit & Special Underwriting team (C&SU) team is responsible for reviewing and providing feedback on HPD projects that receive City Capital loans and/or discretionary tax exemptions, completing special underwriting feasibility and cost/benefit analyses and conducting complex financial analyses to support agency policy initiatives. The Credit Analyst will, through review of project underwriting and the development of analytical spreadsheet models, tools, and templates, support Agency financial practices, project closings and program development. The Credit Analyst will work collaboratively within the team and staff from other HPD Offices while also working , with the support of team leadership, on various projects.

Your Role:

Reporting to the Executive Director of C&SU, the Credit Analyst will:

- Summarize and analyze policies, underwriting standards, budget costs, land valuations, affordability terms, and real estate tax benefits to inform the costs/benefits of proposed deal structures;
- Review and refine underwriting and Credit Memos for proposed affordable housing projects ad-hoc to guide negotiations and ensure Credit Memos accurately document transaction history;
- Aid in the development and documentation of dynamic financial and data models, tools, and templates for special projects and/or for use by other Agency staff to inform proposed programs, policies and legislation.
- Document underwriting procedures and C&SU guidance to ensure the Office of Development and other Agency staff can incorporate the latest analytical tools ; and
- Assist with construction and other financial workouts where financial analysis is required.

Preferred Skills:

- Understanding of real estate finance, underwriting, lending, development, advanced finance concepts, valuation and the residential housing market, particularly the New York City context;
- Interest in learning about local, state and federal affordable housing finance programs;
- Ability to understand complex models and summarize findings;
- Verbal and written communication skills, including ability to present/convey complex concepts effectively;
- People skills with the ability to build relationships, influence others to achieve outcomes and thrive in a team environment;
- Ability to adapt and work under pressure and restrictive deadlines, in an atmosphere of intense activity;
- Passion for public service; and
- An equity lens and deep commitment to radical inclusivity.

ASSOCIATE HOUSING DEVELOPMENT - 22508

1.A baccalaureate degree from an accredited college or university and three years of full-time satisfactory professional experience in the development, appraisal, financing, negotiation, or disposition of real estate, or in real estate law, or in urban planning or analytical or coordination work related to housing programs; or

2. A four year high school diploma or its educational equivalent approved by a State's Department of Education or a recognized accrediting organization and seven years of full-time satisfactory experience as described in "1" above; or

3.A satisfactory combination of education and/or experience which is equivalent to "1" or "2" above. Graduate study in the field of urban studies, city planning, business or public administration, finance, architecture, engineering or other related fields may be substituted for up to one year of the required experience on the basis of 30 credits equaling one year of experience. Graduation from an accredited law school may be substituted for one year of the required experience. However, all candidates must have at least two years of experience as described above.

This position is also open to qualified persons with a disability who are eligible for the 55-a Program. Please indicate at the top of your resume and cover letter that you would like to be considered for the position through the 55-a Program.

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/.

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.