Executive Director, Mid Atlantic Neighborhood Development Corporation (MANDC) in Lanham, MD at Volunteers of America Chesapeake and Carolinas, Inc.

Date Posted: 9/20/2020

Career Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Lanham, MD
  • Career Type:
  • Experience:
    At least 5 year(s)
  • Date Posted:
    9/20/2020

Career Description

Volunteers of America is a national, nonprofit, faith-based organization dedicated to helping those in need rebuild their lives and reach their full potential. Through our hundreds of human service programs, including housing and healthcare, Volunteers of America touches the lives of 1.5 million people in over 400 communities in 46 states as well as the District of Columbia and Puerto Rico each year.

Volunteers of America National Services – Housing and Healthcare Under One Roof. Volunteers of America National Services (VOANS) is a separate nonprofit subsidiary of Volunteers of America governed by a Board of housing and healthcare experts.  VOANS is the affordable housing and senior healthcare arm of Volunteers of America. VOANS is one of the nation’s largest non-profit developers and owners of affordable housing in the nation.

Volunteers of America Chesapeake & Carolinas is an affiliate of the National Volunteers of America and with our 830+ employees, we provide services in MD, DC, VA and North and South Carolina.  As a whole, Volunteers of America is more than a non-profit organization. We are a ministry of service that includes more than 16,000 employees nationwide and more than 70,000 volunteers working together to help individuals who need our help the most.  We firmly believe that our employees drive the success of the organization. With service in mind as the ultimate goal, we strive to create and provide an environment that offers challenging, stimulating and financially rewarding opportunities for our employees. For more details, on this visit www.voachesapeake.org

The Mid-Atlantic Neighborhood Development Corporation. will be a premier non-profit regional affordable housing developer in the mid-Atlantic region. Mid-Atlantic Neighborhood Development Corporation (MANDC) is a joint venture partnership between Volunteers of America National Services and Volunteers of America – Chesapeake & Carolinas. The purpose is to continue the efforts of developing affordable housing opportunities to those who are most in need throughout Maryland, Virginia and the District of Columbia.



 



The Executive Director will be responsible for establishing and operating the newly created entity, the Mid-Atlantic Neighborhood Development Corp (MANDC)., as a premier non-profit regional affordable housing developer.  In addition, the Executive Director will be responsible for formulating and implementing the MANDC affordable housing development strategy in collaboration with the four (4) person board along with measurable metrics that shows the corporation progression through its organizational development.  The MANDC Executive Director will lead and be “hand-on” to deliver the successful execution of affordable housing development projects with the support of Volunteers of America National Services team of experts.

RESPONSIBILITIES

Strategic Plan development and implementation

  • Establish the Mid-Atlantic Neighborhood Development Corp. as the premier non-profit regional affordable housing developer in the Mid-Atlantic ( Maryland, Virginia and DC)
  • Formulate and implement the housing development strategy in collaboration with the board.
  • Build a pipeline of affordable housing deals in market averaging two LIHTC applications with any of the three jurisdictions or acquisitions of affordable housing properties on an annual basis.
  • Review, analyze and propose specific development opportunities appropriate for mission and resident population, for presentation to and for approval by the board.
  • Analyze financial implications (risk/reward) of projects for consideration and make recommendations to the board.
  • Prepare regular reports on project progress according to strategic plan.
  • Perform annual evaluation of strategic plan implementation for the board, including recommendations of any changes needed.

Fiscal and Resource Development

  • Maximize the financial strength and build the long-term assets of Mid-Atlantic Development Corp. through strategic real estate developments, development fees and annual surplus cash flow receipts.
  • Responsible for the day to day operations of the Mid-Atlantic Development Corporation including managing of staff
  • Solicit and negotiate favorable terms of loans, grants and equity investments according to the needs of specific projects. 
  • Investigate new opportunities to finance the development of additional affordable housing, and pursue their application where feasible.
  • Generate annual surplus funds to reinvest in the entity and support the missions of Volunteers of America Chesapeake & Carolinas and Volunteers of America National Services.

External Relationships and Communications

  • Develop and maintain relationships with local, state and federal agencies, public and private multi-family funders and investors.
  • Reach out to and formulate partnerships with other mission-aligned organizations and key stakeholders in order to maximize the effectiveness of the development strategy. 
  • Maintain an effective relationship with senior staff of Volunteers of America National Services and Volunteers of America Chesapeake & Carolinas as owners of Mid-Atlantic Neighborhood Development Corp.  Develop and maintain positive relationships with public officials, community stakeholders and neighborhood associations.
  • Build a positive constituency for the support of the development of high quality, well managed affordable housing.
  • Communicate and review new projects with local elected officials.  Establish a website and marketing materials for the work of Mid-Atlantic Neighborhood Development Corp.

Project Management and Development

  • Seek out potential development sites and establish site control for due diligence.
  • Seek out potential affordable housing acquisitions that fit parameters of the strategic plan.
  • Engage with the Volunteers of America National Services Housing Development Loan Committee (HDLC) for review and recommendations per project to the MANDC board of directors.
  • Conceptualize project design and financing strategy.  Develop financial proformas for highly complex project financings.
  • Demonstrated and proven relationships in impact market.
  • Oversee and direct efforts of the project development team including having the ability to be the project manager “hands-on” on the development projects.

EFFECT ON END RESULTS

  1. Deliver a minimum of two (2) housing development projects annually either in the pipeline or closed with financing.
  2. Cultivate and build a team of internal and external experts to meet the annual project growth requirement.
  3. Strategic growth plan to build sustainability in affordable and rental housing within a 3-year period.
  4. Meeting financial performance goals set by the Board of Directors on an annual basis that delivers positive cashflow and return on investment within 5 years.
  5. Build MANDC balance sheet to ultimately be self-sustaining without another guarantor.

PHYSICAL REQUIREMENTS

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

  • The ability to safely operate a motor vehicle to transport oneself, consumers, and program supplies as necessary.
  • The physical ability to travel to assigned locations, stand, stoop, bend, reach, pull, push, lift, grasp, climb, talk, see, hear and perform basic and light home maintenance activities, and operate office equipment.
  • Operating office equipment requiring continuous or repetitive hand/arm movements.
  • The ability to remain in a sitting position for extended periods of time

OTHER DUTIES

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. 

Qualification
  • Ten (10) to (15) fifteen years of increasing responsibility in the field of affordable housing development, real estate development, finance, architecture and/or construction.
  • Bachelor’s degree in a field related to real estate development, such as finance or business administration. Masters’ degree preferred.
  • Extensive knowledge and experience in developing affordable housing properties, including locating suitable sites or properties for acquisition, project management, and financial structuring.
  • Extensive knowledge and experience with housing finance programs, including but not limited to low-income housing tax credits, historic tax credits, conventional debt, tax-exempt bond financing and New Market Tax Credits (NMTC).
  • Experience and knowledge of other affordable housing instruments such as FannieMae, FreddieMac, HUD FHA, USDA and state housing finance agency finance.
  • Experience with local and state housing programs in the Mid-Atlantic region..
  • Experience in working with Non-Profit Board of Directors.
  • Proven leadership and management skills to motivate teams, consultants and contractors.
  • Excellent verbal and written communication skills, financial analysis, Web Research, Microsoft Word, Excel, Publisher, PowerPoint and Adobe Acrobat.
  • Ability to travel within the region.
  • Bilingual in any language a plus