If you want to do meaningful work, like building relationships in communities throughout Vermont, and enjoy Excel as a critical business tool, we’d love to hear from you.
● Put your affordable housing and Low-Income Housing Tax Credit (LIHTC) real estate development experience to work advancing Evernorth’s mission-based community and affordable housing development efforts.
● Manage a group of multi-family residential and mixed-use commercial development projects hands-on from inception to closing at a pace that mitigates risk and maximizes a successful outcome for all involved.
● The successful candidate will enjoy both quiet, focused time structuring and overseeing financing, handling related documentation and legal considerations, and collaborating with various community partners, public officials, and a myriad of professionals to inform and facilitate design, permitting, tax-credit financing, and construction activities in the state of Vermont.
With offices in Burlington, Vermont, and Portland, Maine, Evernorth (www.evernorthus.org) is a nonprofit syndication and development company founded in 1988. We create permanently affordable rental housing and enable investments in economic and community development through partnerships with local organizations, public agencies, and the private sector. We also have a strong commitment to energy efficiency to help address climate change.
Seeking more information before applying? Feel free to request a confidential exploratory conversation with our recruitment partner, Beth Gilpin Consulting, at beth@bethgilpin.com .
RESPONSIBILITIES:
• Create and evaluate the feasibility of multifamily housing development opportunities.
• Coordinate and lead preliminary project meetings with potential local partners, prepare pro forma, identify funding sources, and assess financial, permitting and political issues.
• Work with a high degree of independence to take the project through the permitting process and apply for public and private financing.
• Negotiate purchase of real estate—both raw land and existing buildings
• Hire design teams and supervise project designs in coordination with Evernorth project manager.
• Secure all required local, state and land use permits prior to the start of construction drawings.
• Coordinate closely with the Director of Asset Management to prepare project operating budgets that accurately reflect true costs, and advise the Senior VP of Real Estate and the CFO as to interim capital needs.
• Work with staff and consultants to lead timely and successful Low Income Housing Tax Credit (LIHTC) partnership construction closings.
• Track projects during construction, meeting regularly with project managers to ensure the project stays on budget and meets the projected tax credit basis and LIHTC delivery projections. Coordinate and problem-solve with project managers on specific design and construction issues.
• Through training, develop an expert level of knowledge of Section 42 of the IRS Code (LIHTC) and the Rehabilitation Investment Tax Credit (RITC), partnership tax law, environmental regulations, Act 250 and local permitting process, and handicap accessibility regulations and/or developments.
• Maintain excellent relationships with Evernorth partners, and seek opportunities to further improve partner relations.
• Work with design team, Efficiency Vermont, and Evernorth project manager and Energy Services to make informed decisions about energy efficient systems and details, and the use of renewable energy.
QUALIFICATIONS:
• Bachelor’s degree required, preferably in urban or community planning and development.
• Highly skilled in financial analysis and use of Excel.
• Experience in real estate development, preferably affordable rental housing.
• Familiar with applicable housing and environmental programs and regulations; Act 250 and local permitting process; construction of multifamily housing; federal and state funding programs, and Section 42 of the IRS Code (LIHTC).
• Excellent written, verbal, and interpersonal communication skills.
• Ability to manage multiple, competing priorities with sensitive timelines.
• Rehabilitation Investment Tax Credit (RITC) and aesthetics and design knowledge preferred.
BENEFITS
● Medical insurance with reasonable premium contribution
● Dental, vision, short- and long-term disability, and life insurance
● Flexible spending plan and H.S.A. contribution
● PTO and holidays
● 403(b) with up to 6% contribution
● EAP, Wellness benefit, and Educational assistance
Work location: This position is based out of Evernorth’s Burlington, Vermont office. Due to the pandemic, many employees are working remotely on a part-time basis.
Evernorth is an Equal Opportunity Employer actively encouraging and supporting organization-wide involvement of staff in diversity, equity and inclusion efforts to educate, inform and advance both internal practices and external work with diverse client populations.