Investment and Portfolio Preservation Team Manager; Supervisor II

Overview

Job Appointment: Full Time, Regular.

Work Schedule: Monday-Friday, 8 am-5 pm. Work hours may include occasional evenings, and weekends as needed.

Work Location: Reports to 1900 SW 4th Ave, Suite 220, Portland, OR 97204. All manager and supervisor positions are expected to report to their worksites full time. Remote workdays remain an option to accommodate travel or to occasionally focus on major work projects.

Benefits: Please check our benefits tab for an overview of benefit for this position.

Language Pay Premium Eligible: This position may be eligible for Language Pay Differential for qualifying employees.

Union Representation: Non-represented.

Application Material: Please click APPLY to submit your application via the City of Portland’s online portal. You will need attach a resume and cover letter.

The Portland Housing Bureau (PHB) is recruiting for a Housing Investment and Portfolio Preservation (HIPP) Team Manager. The primary function of the HIPP program is to finance the development of affordable multi-family housing projects, mostly rental, but ownership as well. The secondary function is to preserve the existing affordable portfolio by financing capital improvements, completing financial restructures, and engaging in creative problem solving with project sponsors.

The HIPP team works collaboratively with other government agencies, non-profits, and private partners.

PHB invests in projects with partner organizations through loans ranging from under a million to tens of millions of dollars. Typical PHB sources include the Portland Housing Bond, Metro Housing Bond, tax increment financing (TIF), Construction Excise Tax (CET) and federal HOME and Community Development Block Grant (CDBG). The pipeline of projects consists of new construction, rehabs, and restructures/modifications. PHB s funds are usually combined with private market equity and debt including federal low-income housing tax credits (LIHTCs) and conventional mortgages from state or federally chartered financial institutions.

Other funding comes in the form of loans and grants from public, quasi-public, and non-profit organizations including Oregon Housing and Community Services (OHCS). The Program Manager should be familiar with a range of real estate development funding types.

The HIPP Team Manager has a team of eight including five Housing Portfolio Finance Coordinators, two Senior Housing Loan Coordinators, and a Housing Program Coordinator. The team works collaboratively from project initiation through the close of construction. This includes advertising the availability of PHB funds, managing the selection process and recommending projects/development teams for funding, thoroughly understanding development projects especially the financial structure and project programming, obtaining approval from PHB’s Investment Committee, and documenting PHB’s financing terms through loan and regulatory agreements.

Due to the large dollar amounts invested in each project and high visibility of the team’s work, the HIPP Team Manager is regularly involved in cross-functional and/or inter-Bureau initiatives and briefings to City/PHB leadership.

• Provide management, supervision, and oversight to the Housing Investment and Portfolio Preservation (HIPP) staff.
• Guide Housing Portfolio Finance Coordinators on the financial structuring of housing development projects.
• Offer vision and long-range planning for the HIPP teamwork program.
• Review and approve Housing Investment Committee (HIC) reports.
• Examine and guide all project legal documents, such as loan agreements, promissory notes, and regulatory agreements.
• Collaborate with PHB’s Construction Services, Risk Analysis and Compliance, Development Incentives, and Finance teams and work closely with developers, consultants, and attorneys.
• Oversee competitive Notice of Funding Availability or Request for Proposal processes offering PHB funding and City-owned sites.
• Represent and act as the liaison for the HIPP team in cross-functional, multi-disciplinary internal teams and with external stakeholders on a wide array of topics related to affordable housing finance and…