Experience Inc. Jobs

City of Fort Wayne

CD Manager - NMTC Operations

Job Code:

2024151

Posted On:

Thursday, 7th March 2024

Category:

Regular Full Time

Department:

Community Development

Shift:

8:00 am to 5:00 pm, may vary depending on need.

Location:

Fort Wayne, IN 200 E. Berry Street

Pay Rate:

$71,526.00 - $85,831.20 Annually

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 RESPONSIBILITIESinclude 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 Waynes 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. Treasurys Community Development Financial Institutions Fund (CDFI), New Markets Tax Credit (NMTC) program. The incumbents 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 FWNMRFs 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. Treasurys CDFI Fund to maintain FWNMRFs 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 ith 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 and Information System for managing the parent and subsidiary CDEs 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 Mayors 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