City of Fort Wayne

Job Description:

SUMMARY

Working under the direction of the CD Administrator – Development Finance, incumbent manages operations for multiple Community Development entities within the Fort Wayne New Markets Revitalization Fund, LLC structure, participates in the deployment of tax credit authority awarded to the organization, and manages relationships with both Governing and Advisory Board of Directors. The incumbent may also provide support and assistance to activities of the Division of Community Development. The incumbent is expected to exercise good judgment, independence, initiative, and professional expertise in conducting day-to-day operations. All work duties and activities must be performed in accordance with the City safety rules and operating regulations, policies and procedures as well as federal, state, and local regulations.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the ability to interact with the public, City incumbents, and outside agencies with patience, tact, respect, and professionalism and the following. Other duties may be assigned.

• Provides operations management for all aspects of the City of Fort Wayne’s subsidiary company, Fort Wayne New Markets Revitalization Fund, LLC (FWNMRF), and all subsidiary Community Development Entities FWNMRF provides complex real estate and operational financing for multi-million dollar projects through funding by the U.S. Treasury’s Community Development Financial Institutions Fund (CDFI), New Markets Tax Credit (NMTC) program. The incumbent’s duties include:

NMTC Allocation management

• Through influence and research skills, gather and develop pertinent data for the annual NMTC allocation application. Collaborates with Executive Director and consultants to craft wording for winning applications. Reviews assigned portions for completeness and accuracy.
• Develops knowledge base of potential NMTC pipeline projects throughout FWNMRF’s eligible footprint (Indiana and Ohio) by providing NMTC eligibility and structuring information to potential project sponsors, and gathering project information for board to make allocation decisions.
• During deployment phase of allocation awards, gathers due diligence and underwriting materials, and provides research for the project teams during the financial closings. Collaborates with Executive Director, consultants and legal counsel to assure project compliance requirements are integrated into closing legal documents and internal workplan.
• Develops relationships with NMTC team, including NMTC consultants, Investors, Lenders, Legal Counsel and individual Project owners.
• Manages quarterly, semi-annual and annual project compliance to assure the project owners are providing all the information required by the investors, lenders and the U.S. Treasury’s CDFI Fund to maintain FWNMRF’s eligibility to receive tax credit authority. Assures required information is submitted in a timely manner.

FWNMRF Operations management:

• Creates and maintains comprehensive calendar of asset management, financial and legal compliance, including but not limited to quarterly investor distributions, estimated tax payments, and required filings for FWNMRF and all subsidiary CDEs.
• Manages Tax and Audit coordination between consultants, investors and regulatory authorities (CDFI, IRS, Indiana DOR) for parent and each subsidiary CDE
• Manages monthly, quarterly and annual financial transactions for the parent company and all subsidiaries, and monitors all activity for multiple bank accounts across a number of different financial institutions. Works with accounting professionals to assure quarterly financial statements are completed accurately and in a timely manner.
• Manages the process to create and maintain subsidiary CDEs in preparation for project deployment, and then dissolve entities as appropriate after the compliance period terminates.
• Develop and maintain expertise in the federal Awards Management & Information System for managing the parent and subsidiary CDE’s status and NMTC allocation awards.
• Plan and organize meetings and maintain required documentation for both the Governing and Advisory boards.
• Collaborates with Executive Director, external consultants and a variety of professional participants to plan NMTC presentations, training sessions and informational meetings to introduce the Federal New Markets Tax Credit structure to community and economic development authorities, potential project sponsors, legal and accounting professionals across the FWNMRF footprint of Indiana and Ohio.
• Develops and maintains positive relationships with consultants, lenders, investors, borrowers, regulatory agencies and both Governing and Advisory boards.
• Actively seeks to stay abreast of continual change in the NMTC industry, by attending training and conferences, and participating in industry wide collaborations to advocate for improvements to the NMTC program.
• Maintains the FWNMRF Policy and Procedure manual, by integrating CDFI mandated changes to CDE management and reporting requirements.

Community Development Division

• Supports the Division with the Legacy Joint Funding Committee management and project review process including ongoing coordination with funded project sponsors to assure compliance with written agreements for Legacy funding;
• Supports the Division with Downtown Dining District review process, providing potential establishments with information, drafting agreements, and coordinating the approval process through City Council and the Mayor’s office;
• Supports the Division to advocate for businesses needing special assistance with the city and other agencies when such advocacy is consistent with economic development interests;
• Answers inquiries and refers specific problems to the appropriate department, organization or agency;
• Participates in the development and implementation of programs/events to strengthen local business opportunities under division direction;
• Assists with Division special projects as needed.

OTHER KNOWLEDGE SKILLS AND ABILITIES

• Ability to express oneself clearly and concisely, orally and in writing, to write reports             and grant applications, draft plans, give presentations, and maintain coordination within area of responsibility;
• Ability to understand and apply federal, state and local regulations relating to economic development projects;
• Ability to interpret and understand legal documents relating to real estate development projects;
• Ability to understand complex financial models including NMTC structuring and financial forecasts;
• Ability to establish and maintain effective working relationships with staff members, other government agencies, elected officials, local business and financial institution executives, and the general public;
• Ability to manage time and establish priorities appropriately with workload demands;
• Ability to work independently and effectively with little supervision;
• Ability to use tact and diplomacy when dealing with multiple parties that may have differing goals in order to achieve concurrence.

SUPERVISORY RESPONSIBILITIES

This job has no supervisory responsibilities.

PERFORMANCE EXPECTATIONS

The incumbent is responsible to manage their performance in accordance with this job description and the performance expectations provided to them by management. If at any time the incumbent is unsure of their role or specific responsibilities, it is the incumbent’s responsibility to refer to their job description and ask for clarification from their supervisor. Management will work with the incumbent, as needed, to ensure performance expectations are clearly communicated and performance goals are achieved.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND EXPERIENCE

Bachelor’s degree (BA or BS) from a four-year college or university and two to four years related experience and/or training or equivalent combination of education and experience, with an emphasis on Business, Real Estate, Public Administration or Public Finance preferred. Knowledge of and experience in real estate finance and lending activities. Knowledge of generally accepted accounting practices (GAAP). General knowledge of the principles and practices of economic development. General knowledge of local government and its impact upon economic development in the public and private sectors.

LANGUAGE SKILLS

Ability to read, analyze and interpret financial reports, legal documents and economic / community development plans and journals. Ability to write clear and concise agreements for legal review, to document intentions between the City and various project sponsors and businesses. Ability to respond to common inquires or complaints from customers, regulatory agencies or members of the business community and citizens. Ability to effectively present information to managers, colleagues, elected officials, private organizations and groups and the general public.

MATHEMATICAL SKILLS

Ability to work with mathematical concepts such as probability, statistical inference and compound interest. Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations and the ability to use such concepts in generation of computer database, spreadsheets and word processing documents.

REASONING ABILITY

Ability to define problems, collect data, establish facts and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

CERTIFICATES, LICENSES, REGISTRATIONS

Valid Indiana Driver’s License, if City vehicle is used.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to sit, use hand to find, handle or feel; reach with hands and arms and to talk and hear. The employee is occasionally required to stand, walk, stoop, kneel, crouch or crawl. The employee must occasionally lift and/or move up to 10 pounds.

WORK ENVIROMMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.