Website NC Housing Foundation
Salary Range: $125,000 to $175,000
(commensurate on experience)
The Foundation | NC Housing Foundation, Inc.
North Carolina Housing Foundation, Inc. (NCHF), together with its affiliated management company, North Carolina Housing Services and Management Corporation (NCHSM), has been developing, operating, and managing high quality affordable housing in North Carolina since 1968. We currently manage a portfolio of 1,465 units of affordable housing and are actively looking for opportunities to increase this number over the next several years. Our portfolio includes properties financed or subsidized through a range of federal sources, including HUD-insured loans and direct loans, Section 8 subsidy, and the Low-Income Housing Tax Credit program, as well as programs administered by USDA-Rural Development, the Federal Home Loan Bank of Atlanta, and the Veterans Administration.
The Location | Winston – Salem, NC
Winston-Salem’s history began in 1753, when the first Moravians in North Carolina settled on 100,000 acres known as the Wachovia Tract. Their vision of creating a self-sufficient community made it a haven for entrepreneurs. Twentieth-century businesses, such as R.J. Reynolds Tobacco and Hanes Co., also shaped Winston-Salem by bringing remarkable wealth to the city and endowing it with an impressive list of institutions and foundations.
Today, Winston-Salem is the fifth largest city in North Carolina and home to six colleges and universities, including UNC School of the Arts, Salem College, Wake Forest University, Forsyth Technical Community College, Carolina University, and Winston-Salem State University. The city is frequently ranked as one of the best places to live in the US and enjoys an excellent school system and low cost of living. Visit www.winstonsalem.com for details.
The city continues to build a diverse business base, including leading in nanotechnology research, finance, and manufacturing—again reaffirming the city’s tradition of forging boldly ahead. With a strong and unwavering commitment to the arts, excellence in healthcare research and technology, and opportunities for specialized and advanced education, Winston-Salem truly is the City of Arts and Innovation.
The Opportunity | Executive Director
We are seeking an Executive Director to oversee all aspects of our organization, including Property Management, Asset Management and Development along with financial, regulatory compliance, operational and capital needs of the organization. This position will work closely with a broad array of external partners, investors, lenders, government regulatory agencies and key staff. This is the most senior staff position in our organization and will report directly to the Board of Directors. With a total of about 100 employees, most of whom work at the various housing sites, the following report directly to the Executive Director: Director of Finance; Director of Human Resources; and Director of Property Management and Compliance.
The following is a basic outline of the responsibilities for an Executive Director of the North Carolina Housing Foundation (NCHF).
As directed by the Board of Directors for NCHF, the Executive Director will oversee all aspects of NCHF and NCHSM and serve as the senior operating officer of both organizations.
Duties will include, but not be limited to the following:
- Lead the organization in the development of new construction and rehabilitation projects, with a focus on affordable housing serving elderly and disabled persons.
- Supervise the preparation and submittal of applications for financing through federally-assisted sources, including loan and grant programs.
- Negotiate and coordinate closing of project financing including FHA-insured loans and tax credit equity investment.
- Seek opportunities for property acquisitions and strategic dispositions.
- Critically review our portfolio on a regular basis to identify areas of concern and opportunities for maximizing return on investment.
- Assess capital needs of aging properties and strategize methods of recapitalization to support needed rehabilitation.
- Negotiate and supervise capital transactions including refinances, property dispositions, and investor buyouts.
- Oversee and manage personnel who run the day-to-day operations for our portfolio of properties, including leasing, maintenance, and program compliance.
- Ensure appropriate response to needs of tenants; oversee service coordination for applicable properties.
- Ensure budget deadlines for all properties, with a focus on efficient operations and maximizing rental income.
- Review project visit checklist, expense reports, travel schedules and weekly schedules for staff.
- Ensure adequate marketing to minimize vacancy and maintain occupancy.
- Ensure all properties meet safe and adequate housing standards.
- Oversee the initial set-up/rent-up of new properties.
- Monitor staff preparations and responses for audit and compliance reviews conducted by regulatory agencies.
- Schedule and monitor capital and emergency expenditures subject to management agreements and regulatory agency and reserve requirements.
- Negotiate and establish contracts for bulk purchases for supplies and labor contracts.
- Negotiate and implement management contracts.
- Create budgets for NCHSM on annual basis.
- Supervise the hiring, training, and dismissal of senior staff.
- Oversee the preparation and dissemination of financial statements and reports for project owner entities.
- Act as liaison between owners/sponsors/staff and board as required/needed.
- Hire, train, review job performance and/or dismiss staff as needed.
- Strive to increase profit margin to ensure competitive salary and benefits for staff and maximize the range of services to be offered to residents.
- Stay current on licensure and certification requirements needed for senior staff to effectively manage the organization’s core business.
- Set annual schedule for NCHF and NCHSM quarterly Board of Directors meetings.
- Prepare agenda and minutes for quarterly Board of Directors meetings.
- Collect, prepare, and present information to Board of Directors meetings.
- Serve as liaison between the NCHF and governmental funding agencies.
- Serve as signatory for NCHF, NCHSM, and their affiliate properties, entering contracts as appropriate.
- Represent Board of Directors as appropriate at community functions.
Minimum of a bachelor’s degree; ideal candidate will hold a Graduate degree in Real Estate, Accounting and/or related field.
Significant experience in senior affordable development and/or asset management with increasing levels of responsibilities.
Three to five years of supervisory experience in substantive positions requiring the ability to lead a team, formulate and implement policy, and work with diverse partners.
Solid knowledge of Property and Asset Management software.
This job description is not all-inclusive and may be updated as required by the Board of Directors of the North Carolina Housing Foundation.
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