WHY MIDPEN

At MidPen, we build communities that change lives. Since 1970, we have been committed to our mission: to provide safe, affordable housing of high quality to those in need; establish stability and opportunity in the lives of residents; and foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony, and mutual respect.

We develop affordable housing, provide professional property management for all our communities, and coordinate robust onsite support programs that help residents thrive. We are active in 12 Northern California counties and have earned recognition as one of the nation’s leading non-profit developers and stewards of affordable housing. Our current portfolio of more than 130 properties is home to 20,000 working families, seniors, and people with special needs. We take pride in delivering affordable housing solutions, and we invite you to join us on a journey toward social, economic, and racial equity.

BENEFITS AND COMPENSATION

In 2023, MidPen was again certified as an official Great Place to Work®, and for good reason! In addition, we offer a best-in-class benefit package that includes healthcare options (Kaiser or Sutter), dental, vision, life & disability insurance. We also offer a wide range of voluntary benefits; 403(b) retirement investment opportunity and annual financial literacy and retirement planning options, FSA for childcare, medical and commuter benefit options, Employee Assistance program and pet insurance for our furry, feathered, and scaled friends. In addition to 14 paid company holidays, which include a paid winter holiday break between Christmas and the New Year, we offer 4 paid wellness days for employees to disconnect and recharge. As a learning organization, we encourage professional development and career advancement, and we offer up to $3,000 annually ($12,000 lifetime maximum) for education assistance with tuition reimbursement and/or loan debt relief that includes qualified family members. And, as a family-friendly company, we offer a paid time off parental leave benefit of 12 weeks in a 12-month period for new or expecting parents. Check out our benefits snapshot on our careers page.

PAY RANGE

$180,000.00 - $220,000.00 Annual Salary - Pay based on applicable experience and qualifications

POSITION OVERVIEW

The Director of Housing Finance is critical in securing and managing the financial resources that bring MidPen’s affordable housing projects to life, guiding them from inception to completion. This role works closely with internal teams and public and private funding partners to develop financing strategies and ensure projects are well-positioned for success. With accountability for every stage of a financial project's lifecycle, the Director of Housing Finance guides decision-making to ensure long-term financial sustainability and success.

This position requires a strategic, collaborative leader who excels at building relationships and fostering teamwork. Deep expertise in affordable housing finance, including underwriting, public and private funding mechanisms, and market analysis, is essential to navigate the complexities of this work effectively. By leveraging technical knowledge, financial expertise, and a partnership-driven approach, the Director of Housing Finance is pivotal in advancing MidPen’s mission to create sustainable and equitable housing communities.

This position also includes a seat on MidPen’s Leadership Team Steering Committee (LTSC), where you will play a key role in shaping the strategic direction and organizational priorities of MidPen. As part of this influential team, your leadership will drive collaboration, innovation, and shared accountability across MidPen.

This is a hybrid position, based on current MidPen policy of working Tuesdays and Thursdays in the Union City, Foster City, Oakland Office. Monday, Wednesday and Friday, option to work from home or the office. When working from home, requires a reliable internet connection.

ESSENTIAL DUTIES

Establish and Maintain Project Financing and Underwriting Review Strategy

• Partner with Project Teams and Directors to evaluate new projects and provide financial feasibility assessments and strategic funding recommendations
• Collaborate with the Development Department Co-Leads to align priorities and integrate financing strategies across all stages of the project lifecycle
• Review term sheets and loan documents and manage templates that establish MidPen’s standards and norms, including risk management and cost-benefit analysis
• Collaborate with Development Department Co-Leads to run Development Pipeline Review to ensure alignment between financing decisions and organizational goals

Capital Markets and Public Financing Lead

• Develop and sustain existing and new relationships with lenders, investors, and state housing finance agencies to secure optimal funding terms
• Lead processes with lenders and investment proposals to achieve MidPen’s preferred terms while aligning with macroeconomic trends
• Proactively identify new funding opportunities from both public and private sources
• Stay current on public financing program requirements and apply insights to optimize project pipeline strategies

MidPen Portfolio and Asset Management

• Collaborate with leadership in analysis and execution of re-syndication opportunities to maximize portfolio value
• Contribute to the annual property budget process to identify and develop portfolio solutions to align with MidPen’s preservation and growth objectives

Leadership & Collaboration

• Deliver training programs to enhance organizational understanding of housing finance and foster collaboration across departments
• Work with the Development Department Co-Leads, CFO, and Finance Team to track developer fee revenue, strategize Capital Magnet Fund applications and expenditures, and other corporate-level financing sources
• Guide Leadership through financial challenges and alignment efforts

Data-Driven Insights and Financial Analysis

• Oversee and refine financial modeling tools, including proforma template andterm sheets, to support strategic decision-making
• Standardize and manage risk analysis frameworks and cost-benefit assessments to ensure robust financial decision-making
• Utilize data analytics and tracking tools to monitor pipeline progress, identify trends, and inform actionable insights for improved financial outcomes

Policy Advocacy

• Support Policy Team’s strategy on State finance regulatory issues, and help coordinate the response to new financing regulation proposals
• Performs other duties as required

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the education, knowledge, skill, and/or ability required.

Education and Experience

• Graduate or Professional degree in Urban Planning, Community Development, Architecture or related fields with an emphasis on real estate development or commensurate experience
• At least 8 years of Real Estate finance experience

Knowledge, Skills, and Abilities

• Thorough knowledge of Federal, State, Local, and Private sources of financing for low-income housing
• Ability to prepare in-depth financial feasibility analyses, conduct research, and prepare narrative reports and proposals
• Knowledge of real estate and tax law as it pertains to the development of low-income housing
• Proven ability to work effectively with lenders, investors, and public officials.
• Ability to develop standard internal tax credit proformas and to train other staff in their use
• Strong leadership skills, with the ability to mentor, guide, and inspire teams across multiple departments
• Exceptional communication skills, with the ability to present complex financial data to technical and non-technical stakeholders

Physical Requirements

• Frequent use of a computer and other standard office equipment, including sitting for extended periods while performing desk-based tasks
• Ability to carry light materials up to 25 pounds

Working Conditions

• Occasional travel to properties, meetings, or conferences as required

This description reflects management’s assignment of essential functions, it does not proscribe or restrict the tasks that may be assigned.

EQUAL OPPORTUNITY EMPLOYER

MidPen Housing Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Consistent with its obligations under the law, MidPen Housing Corp. will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job. MidPen believes that diversity and inclusion among our teammates is critical to our success, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool.