FINANCIAL DEVELOPMENT OFFICER

THE SALARY
The current salary range for this Financial Development Officer I position is $ 114,944.40 to $ 168,063.12 annually.

DUTIES AND RESPONSIBILITIES
This Financial Development Officer I position is responsible for performing some or all of the following duties, depending on the position being filled:

 Support the financing and long-term loan servicing of supportive and affordable multifamily housing.
 Performs and coordinates with developers/applicants the review and analysis of affordable housing loan
applications to assess each project's need for public funding. Examines all costs for completeness and
reasonableness. Evaluates track record and financial strength of developer, sponsor, and property manager
for the capability to satisfactorily complete and operate the project. Examines appraisals and market studies
for accuracy and sufficiency. Analyzes site planning, project program and building design for ability to
comply with government ordinances and permits in a timely manner. Conducts analysis to determine project
eligibility for low income housing tax credits and State Multifamily Housing Program or other leveraged
funding.
 Has familiarity with loan documents, such as affordability covenants, appraisals, audited financial
statements, loan agreements, and title reports to make recommendations for funding and ensure ongoing
project compliance.
 Conducts an annual financial and operational health and risk assessment for each loan to which they are
assigned, evaluating the financial strength of the developer, sponsor, and property manager to determine
their capability to operate each affordable housing development satisfactorily. This review will include
reviewing appraisals, audited financial statements, tax returns, rent rolls, credit reports, and operating
reserves; determining compliance with loan documents and funding sources; assessing the financial and
operational health of each project; and preparing property value estimates utilizing both sales comparables
and income approaches.
 Responsible for negotiation and approval of documents for complex real estate transactions, including
purchase and sale agreements, escrow instructions, title reports, covenants and agreements.
 Monitors on-going compliance and disbursement of funds during the development phase of the project.
 Collects and analyzes data; works with LAHD Systems unit to enhance and automate internal forms and
processes; and assist unit manager with miscellaneous reports and projects.

REQUIREMENTS
Candidates for this position must meet the following requirements:
1. Graduation from a recognized four-year college or university and
A. Three years of full-time paid professional experience in real estate development financing,
affordable housing development or financing, and/or affordable housing conduit bond
financing, which includes analyzing, reviewing, and formulating recommendations regarding
construction financing or complex real estate financing; or
B. Three years of full-time paid professional experience in developing or implementing financing
programs, which includes analyzing and evaluating financing data related to loan programs. One year
of which must have been in a property development, property improvement or an urban improvement
program; or
2. Two years of full-time paid professional experience with the City of Los Angeles in a class at the
level of Management Analyst that provides the type of experience specified in Requirement 1.

SELECTION PROCESS
The selection process will include an oral interview, and may include a written exercise, to determine the most qualified candidate for this position. In the event that there is a large candidate pool, screening criteria will be used to bring the most qualified individuals forward to the interview process.