$87,339.20 - $133,390.40 Annually
Arlington *METRO-accessible*, VA
Community Planning, Housing and Development
Salary listed above is the salary range effective July 1, 2021. NOTE:
This is a re-opening to expand the pool of qualified candidates. If you have already applied for this position, there is no need to re-apply unless you wish to update your application.
Arlington County's Department of Community Planning, Housing and Development (CPHD) is seeking a strategic Asset Manager on the Housing Finance and Asset Management team, that will be responsible for managing and analyzing information regarding all aspects of the County's multi-family and single-family loan portfolios, which have a collective value of over $300 million. The Asset Manager is also responsible for coordinating and directing multi-phased, complex analysis and coordination of financial data for a large and diverse publicly financed portfolio funded with local Affordable Housing Investment Fund (AHIF), federal Community Development Block Grant (CDBG), and federal HOME Investment Partnerships Program (HOME) funds.
The Asset Manager must provide highly specialized, analytical and detailed information about the condition and status of the County's affordable housing resources, including complexities critical to the County's Affordable Housing Master Plan and housing goals. This position also requires significant communication, coordination and sharing of information with internal colleagues in the Housing Division, Department of Management, Finance Department, County Attorney's Office and external stakeholders such as developers, owners, property managers, senior lenders and investors. Specific duties include: Asset management functions for County's multifamily housing development loan portfolio using multiple funding sources such as AHIF, HOME and CDBG funds.
Asset management of County's single-family housing loan portfolio, including the Moderate-Income Purchase Assistance Program (MIPAP), Home Improvement Program (HIP), and Affordable Dwelling Unit (ADU) program with AHIF, HOME, and CDBG funds.
- Manage multifamily loan portfolio presently valued at $300 million with 65+ active loans to include review, analysis and assessment of County's loan portfolio annually via operating budgets, annual loan repayment calculations, audited financial statements, annual insurance certificates, financial monitoring and ensuring timely submission and deposit of approximately $5 - $6 million in annual loan revenue;
- Interpret and manage loan portfolio information for use by Housing Division (HD), the Department of Management and Finance (DMF), the Housing Commission (HC) or other County departments as requested;
- Monitor strategically owner/developers annually, prioritize and schedule work based on reviews of financial information, size of loan portfolio with County, and status of properties.
- Utilize monitoring results to identify trends and recommend changes to improve efficiencies for the property and/or program effectiveness;
- Coordinate and share information with Compliance Officers and work with them to provide complete information to Housing Division colleagues and other internal stakeholders regarding overall operations for all properties in the loan portfolio; and
- Recommend revised policies, goals, objectives, and procedures in accordance with federal, state, and local regulations to ensure an integrated housing program for affordable housing clients and the community.
Project Refinancing and Debt Restructuring Work for Housing Division.
- Manage the single-family loan portfolio currently valued at approximately $5 million with 200 active loans and ensure timely submission and deposit of approximately $400,000 - $500,000 in annual loan repayments and loan payoffs; and
- Serve as County point of contact with loan servicer on client services, financial submittals, and senior lenders; examine monthly loan servicer reports for repayment amounts, delinquencies, and payoffs to ensure compliance with homeowner loan documents and identify needs for workout plans if loans are delinquent.
Team Lead for Financial Tools Initiative for Housing Arlington.
- Examine, analyze, and underwrite multifamily and single-family loans to support requests for interest rate reductions, debt refinancing, and/or loan subordinations; and negotiate loan terms and conditions during debt refinancing to maintain the long-term viability of the loan/property to serve low-income County residents and minimize the County's risk; and
- Direct research of other financing and funding programs, rental assistance opportunities, and partnerships that allow properties to improve their financial position with dedicated revenue options.
The ideal candidate will have:
- Lead the Housing Arlington Financial Tools Initiative to examine ways to expand and re-think resources, financial and otherwise, for affordable housing projects in Arlington. Specifically, work with a team to identify strategies to address resource challenges the County faces to increased CAF production including project cost, desire for new financing approaches, re-thinking of existing tools, limited opportunities and cost of recapitalization; and
- Direct interdepartmental team meetings, report publications, and other work that provides information to County leadership for future policy and budget discussions.
- Technical, financial, and auditing expertise in affordable housing;
- Problem-solving skills to define problems and collect relevant information to recommend technical solutions;
- Ability to work in a collaborative, team-oriented environment;
- Communication skills to exchange information with investors, lenders, County staff, elected officials and the public;
- Writing skills to compose and edit reports, proposals, contractual and technical documents, policies, and recommendations; and
- Interpersonal skills to resolve complaints and/or conflict, maintain liaison, and speaking in public.
Minimum : Bachelor's degree in Public/Business Administration, Finance, Planning, Finance, Real Estate Development or a related field, plus progressively responsible experience related to affordable housing development and finance programs and/or asset management.
Substitution : Additional education may be substituted for experience.
Desirable : Preference may be given to candidates with a Master's degree in related field and with experience in one or more of the following:
- The complexities associated with affordable housing development and finance, which may include budgeting, auditing and accounting;
- Working with affordable housing finance programs, including Low-Income Housing Tax Credit (LIHTC), historic tax credits, local financing, federal Community Development Block Grant (CDBG) and HOME Investment Partnerships (HOME) programs; and
- Multifamily and single-family asset management and compliance.
Please attach a resume to the on-line application. Please provide a cover letter or supplemental question response that addresses how your experience and education meets the job requirements, including direct experience in the following areas:
- Multifamily and single-family asset management and compliance;
- Working with affordable housing development and finance; and
- Working with affordable housing finance programs.
Completion of the Commonwealth of Virginia Statement of Economic Interest form will be required of the successful candidate upon hire and annually thereafter. Additional Information
Work hours: Monday - Friday, flexible hours generally between 8:00 a.m. - 5:00 p.m. Occasional night and weekend meetings as well as out of County travel.
The official job title of this position is Development Specialist, Principal.
Your responses to the supplemental questionnaire are considered part of the selection process and are required for this position. Please do not give "see resume" as a response to the questions. Incomplete applications will not be considered.
NOTE: This position is listed as "open continuous" Interested applicants are advised to submit their applications as soon as possible. Applications will be reviewed, and qualified applicants referred on a continuous basis. If your application is received later in the recruitment process, it may not be reviewed or considered. The application process will close when the position has been filled or when a sufficient number of qualified applications have been received.
Arlington County Government employee benefits depend on whether a position is permanent, the number of hours worked, and the number of months the position is scheduled.
Specific information on benefits and conditions of employment can be found on the Arlington County Human Resources Department website: (see application details)
Permanent, Full-Time Appointments
All jobs are permanent, full-time appointments unless otherwise stated in the announcement. The following benefits are available:
Paid Leave : Vacation leave is earned at the rate of four hours biweekly. Leave accrual increases every three years until eight hours of leave are earned biweekly for twelve or more years of service. Sick leave is earned at the rate of four hours biweekly. There are eleven paid holidays each year.
Health and Dental Insurance : Three group health insurance plans are offered - a network open access plan, a point-of-service plan, and a health maintenance organization. A group dental insurance plan is also offered. The County pays a significant portion of the premium for these plans for employees and their dependents. A discount vision plan is provided for eye care needs.
Life Insurance : A group term policy of basic life insurance is provided at no cost to employees. The benefit is one times annual salary. Additional life insurance is available with rates based on the employee's age and smoker/non-smoker status.
Retirement : The County offers three vehicles to help you prepare for retirement: a defined benefit plan, a defined contribution plan (401(a)), and a deferred compensation plan (457). The defined benefit plan provides a monthly retirement benefit based on your final average salary and years of service with the County. You contribute a portion of your salary on a pre-tax basis to this plan. General employees contribute 4% of pay; uniformed public safety employees contribute 7.5% of pay. Employees become vested in the plan at five years of service. The County also contributes to this plan.
For general employees, the County also contributes 4.2% of pay to a defined contribution plan (401(a)) . The County also matches your 457 contribution, up to $20 per pay period, in this plan. The 457 deferred compensation plan allows you to set aside money on either a pre-tax (457b) or post-tax (457 Roth) basis up to the IRS annual limit. New employees are automatically enrolled with a pre-tax contribution equal to 2% of your base pay.
Other Benefits: The County also offers health, dependent care, and parking flexible spending accounts; long-term care insurance; tuition assistance; transit and walk/bike to work subsidies; a college savings plan; wellness programs; training opportunities; and a variety of other employee benefits.
Permanent, Part-Time Appointments:
Part time employees who work ten or more hours per week receive paid leave and benefits in proportion to the number of hours worked per week.
Limited Term Appointments:
Benefits are the same as permanent appointments except that the employees do not achieve permanent status.
Temporary Regular Appointments:
Temporary regular employees who work 30 hours or more per week are eligible for health, dental, and basic life insurance as described above. They are also eligible for vacation, sick leave, and paid holidays.
Temporary Seasonal and Occasional Appointments:
Temporary employees who work on a seasonal basis or variable hours receive sick leave, but do not normally receive other paid leave or benefits. Exceptions are noted in individual announcements.
See job description