Executive Director - Affordable Housing Developer

Job Title:                             Executive Director - Affordable Housing Developer

Supervisor:                         Board of Directors

The Alden Foundation: Founded in 1996, The Alden Foundation is a nonprofit affordable housing developer that has successfully developed and operates more than 1,000 units of affordable housing for seniors across 14 communities. Our mission is to foster and expand affordable housing opportunities for low-income seniors by distinctively designing & developing communities that residents proudly call home, offering programs and services to maximize independence, and promoting healthy aging in place. We believe deeply that all people, regardless of means, should be able to live affordably in a beautifully designed and welcoming environment that they can proudly call home.

Position Description: The Executive Director is the chief executive officer of The Alden Foundation and is responsible for the overall strategic, operational, and financial management of the organization. The Executive Director will lead the organization in achieving its mission, ensuring the development and preservation of affordable housing, and fostering strong community partnerships. A critical component of this role involves overseeing Low-Income Housing Tax Credit (LIHTC) development projects, from acquisition and financing to construction and compliance. The Executive Director will work closely with the Board of Directors, staff, and external stakeholders to advance the organization's mission through effective LIHTC project management and strategic leadership.

Essential Duties and Responsibilities:

Leadership and Strategy

• Provide visionary and strategic leadership to the organization, setting long-term goals and objectives.
• Develop and implement strategies to advance the mission and ensure the sustainability of the organization.
• Work with the Board of Directors to establish policies and make strategic decisions.

LIHTC Project Development

·      Lead the identification and acquisition of properties suitable for LIHTC development.

·      Oversee the preparation and submission of LIHTC applications, ensuring compliance with all state and federal requirements.

·      Coordinate with legal, financial, development, design, and construction partners to structure LIHTC deals effectively.

·      Lead and direct all development operations, from site design and entitlements; financial underwriting; financing and tax credit applications; construction design and development; closing and completion.

·      Manage and coordinate the professional development team, including all consultants, attorneys, architects, general contractor, project management staff, and contractors.

Financial Structuring & Engineering

·      Develop comprehensive financing plans for LIHTC projects leveraging tax credits, grants, loans and other funding sources.

·      Cultivate relationships with investors, syndicators, and financial institutions to secure equity and debt financing for LIHTC projects.

·      Negotiate the terms and agreements with investors and lenders to optimize financial outcomes for the organization.

Regulatory Compliance & Reporting

·      Ensure compliance with all LIHTC program regulations and requirements throughout the development and operational phases.

·      Oversee timely and accurate preparation of compliance reports including cost certification s, audits, and tenant income certifications.

·      Maintain strong working relationships with state housing finance agencies & other regulatory bodies.

Stakeholder & Community Engagement

·      Engage with community stakeholders, local government officials, and neighborhood organizations to gain support for LIHTC projects.

·      Conduct public meetings and hearings to inform and involve the community in the development process.

·      Address community concerns and incorporate feedback into project planning and execution.

·      Represent the organization in public forums, media, and community events.

Project Management & Oversight

·      Provide strategic oversight and direction for all aspects of LIHTC project management, ensuring projects are completed on time and within budget.

·      Monitor project milestones, performance metrics, and quality standards to ensure successful project outcomes.

·      Lead the selection and management of project teams, including architects, contractors, and property managers.

Post-Development Operations

• Monitor and address ongoing operational and financial performance of LIHTC properties.
• Ensure effective property management and compliance monitoring for LIHTC properties post-development. 

Financial Management

• Develop and manage the organization’s budget, ensuring financial stability and sustainability.
• Ensure portfolio performance through asset management oversight and develop strategies for refinance and recapitalization of older projects, as needed.
• Identify and pursue funding opportunities, including grants and partnerships.
• Oversee financial reporting, audits, and financial planning processes for entire portfolio.

·       Identify and address underperforming assets with urgency and sound solutions, ensuring the highest standards of resident satisfaction and property maintenance.

Advocacy and Policy Development

·      Advocate for policies and initiatives that support the expansion and improvement of the LIHTC program.

·      Stay informed about changes in LIHTC regulations and industry best practices.

·      Participate in industry conferences, forums, and networks to enhance the organization's visibility and influence in the affordable housing sector.

Qualification and Competency Requirements:           

Experience and Education

• Bachelor’s degree in Business Administration, Public Administration, Urban Planning, Nonprofit Management, or a related field; Master’s degree preferred.
• The ideal candidate should have a minimum of 7-10 years of experience in affordable housing development, with a specific focus on LIHTC.
• A proven track record in executing LIHTC development deals, from land sourcing to project completion, is essential.
• Strong financial acumen and experience with budgeting, financial management, & affordable housing compliance required.
• The role demands a subject matter expert in securing affordable housing & associated tax credits, and the candidate should possess a self-starting, entrepreneurial mindset, and be motivated to work both autonomously and as part of a small, close-knit team.
• Excellent communication, interpersonal, and relationship-building skills.

Computer Skills

·      Excellent computer skills with strong proficiency in Excel, Word, PowerPoint, Outlook, and Project Management platforms (knowledge of Northspyre a plus).

Additional Attributes

·      Ability to work independently and self-manage to achieve goals while being a strong team player.

·      Ability to exercise excellent independent judgment and take ownership of decisions.

·      Ability to organize, meet deadlines, and delegate appropriately.

·      Excellent communication skills & ability to work collaboratively with multiple stakeholders.

·      Strong analytical & critical thinking skills with ability to use data to inform decision-making.

·      Ability to cope with and embrace change, risk, and uncertainty.

·      Ability to develop strong relationships within a fast-paced, collaborative setting that values diverse opinions; enthusiasm for helping drive change as The Alden Foundation becomes a more data-driven organization.

Work Schedule: The typical schedule for this position is Monday-Friday, normal business hours, with occasional nights and weekends, depending on the needs of the position and the organization.

Other: Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Physical Activities and Working Conditions

The physical demands and working conditions described here are representative, but not exhaustive, of those that must be met by an employee to successfully perform the essential functions of this job.

·      This position is typically performed in an interior, environmentally controlled office setting. The duties of the job require extended periods of time being stationary and manipulating a computer (keyboard, monitor, mouse), and other standard office equipment including, but not limited to: printer, fax, calculator, copier, telephone and associated computer/technology peripherals.