NMTC Associate Director

Steadfast City Economic & Community Partners
🌎 Location
💵 Salary

Up to $90,000

N/A
🗓️ Posted

January 3, 2024

St. Louis, MO; Rochester, NY; Fairhope, AL or Remote (USA)

Associate Director of NMTC for impactful community, business, and real estate projects within a dynamic firm.

About the Company

At Steadfast City Economic & Community Partners (www.steadfastcity.com), we are an economic development, community development, and non-profit consulting firm. We help businesses and real estate developers secure economic incentives when they expand or develop real estate. We also help communities, businesses, and community development organizations solve problems such as redeveloping/developing real estate, determining market feasibility for proposed projects, and performing planning and development related services. We work with organizations to secure New Markets Tax Credits (NMTC) to help finance facilities and impactful projects in low-income neighborhoods. Along with NMTC support, we assist non-profits with overall positioning and fund-development/operational strategy.

We got started because we saw the opportunity to weave together government, business, economic development, real estate, social, and philanthropic sectors in a more aligned and impactful manner. We exist because we have a strong desire to elevate businesses who create jobs, real estate developers who create and rebuild neighborhoods, cities who need development, organizations working to effectuate positive economic and social change, and people who benefit from all of this occurring. Through our talents we hope to bring about positive economic and social change and better outcomes for all of our business, real estate, community, and non-profit clients. We exist for a higher purpose, to have an impact in everything we do.


About the Role

The New Markets Tax Credit Associate Director will work closely with members of a fun and passionate team. Coming from a variety of educational backgrounds and work experiences, our unique backgrounds and holistic approach lend a new perspective to projects. Steadfast City is an economic development, community development, and non-profit consulting firm. We help businesses and real estate developers secure economic incentives when they expand or develop real estate. We also help communities, businesses, and community development organizations solve problems such as redeveloping/developing real estate, determining market feasibility for proposed projects, and performing planning and development related services. We work with organizations to secure New Markets Tax Credits (NMTC) to help finance facilities and impactful projects in low-income neighborhoods. Along with NMTC support, we assist non-profits with overall positioning and fund-development/operational strategy.

The NMTC Associate Director will work under the direction of the Chief Project Officer on NMTC QALICB projects from inception to allocation to closing and compliance. They will also work closely with the compliance team to effectively and efficiently transition projects from closing to compliance. The Associate Director will be responsible for supporting the company’s NMTC strategy and building relationships with potential clients, Community Development Entities, and NMTC investors.

As the Associate Director, there is an opportunity to bolster goal oriented and successful project management and project delivery, ensuring alignment of strategy within the entire NMTC team and across the organization. This team member would lead projects, ensuring cross-company collaboration, project strategy, and quality maintenance, while also providing overall advising, training, and strategizing with the leadership team to improve NMTC efforts, processes, and spur department growth.

At Steadfast City Economic & Community Partners, our multi-disciplinary staff must possess the ability to be nimble and flexible with their workloads and skill sets to ensure our projects bring the right set of expertise and leadership. Therefore, the Associate Director will have the opportunity to both lead key projects for the firm and project teams and provide leadership and mentorship assistance to project management staff as they serve clients in other departments and specifically within nonprofit and fund development clients.



Responsibilities Include

  • Manage the NMTC process, including discussing NMTC potential to sponsors/businesses, socializing the project to CDEs, identifying and securing investors, working with NMTC accounting to support structuring investments, and coordinating legal documentation
  • Communicate with potential clients, project sponsors, and QALICBs the requirements of NMTC eligibility and the overall NMTC process for securing allocation and closing a NMTC transaction
  • Develop and implement a comprehensive strategy to secure NMTC allocations for QALICBs
  • Correspond with clients for fact-finding, due diligence coordination, data collection, and needed project documentation for the NMTC “pitch deck”, intake forms, and overall closing needs
  • Provide guidance and technical assistance to QALICBs in responding to NMTC intake forms
  • Build and maintain a CDE tracking database to track NMTC award allocation
  • Conduct outreach and communicate routinely with potential CDEs as appropriate to market and socialize the current Steadfast City NMTC book of projects and potential new projects
  • Build relationships with CDEs, investors, and other stakeholders involved in NMTC allocation process
  • Track and report on progress toward securing NMTC allocations for QALICBs
  • Analyze financial statements and projections to troubleshoot issues in attracting NMTC allocation and identify potential financing structures
  • Work with legal and financial professionals to ensure compliance with regulatory requirements and optimize NMTC allocation structure
  • Once allocations & investors are secured, assist in the closing process by reviewing deal structuring and documentation with legal and financial professionals, participate in closing calls, negotiate as needed with other parties in the transaction, review and comment on financial models and legal documents, work on NMTC compliance and due diligence issues, and work closely with finance on funding while communicating the process and next steps with the client
  • Work with the internal compliance team for NMTC compliance requirements, coordinating with client as needed
  • Make recommendations for improvement of NMTC department by evaluating and re-designing processes, approaches, and coordination as needed
  • Research and stay up to date on relevant laws, regulations, and policies related to NMTC allocation process

Qualifications

  • Bachelor's degree in business, finance, accounting, or related field (Master’s degree is not necessary but beneficial)
  • Strong analytical and financial modeling skills
  • At least 5 years of experience working in community development, real estate development, finance, or a related field
  • In-depth knowledge of NMTC program and regulations
  • Experience working with QALICBs and securing NMTC allocations for them
  • Familiarity with legal and financial structuring for NMTC transactions
  • Experience working with CDEs, investors, and other stakeholders involved in NMTC allocation process
  • Strong communication and interpersonal skills, with the ability to work collaboratively with clients, investors, and other stakeholders
  • Excellent analytical and problem-solving skills, with the ability to identify risks and opportunities in complex financial structures
  • Ability to work independently and as part of a project team
  • Strong project management skills and ability to manage multiple projects simultaneously with varying deadlines
  • Willingness to travel as needed as the role will require occasional visits to the Steadfast offices to build relationships with the team, to meet with clients on location, and attendance of NMTC conferences

Salary & Benefits

Up to $90,000

Competitive Salary
Salary based on experiencE
Medical, Dental and Vision Insurance
Flexible Vacation
Paid Sick & Safe Leave
Flexible working hours
Retirement Plan Contribution
Disability Insurance
Life Insurance 50k+

Locations

We are open to talent from any remote location, but show preference to our physical office locations listed below:

St. Louis, MO
Rochester, NY
Fairhope, AL

To Apply

Submit your resume to jason@steadfastcity.com by clicking on Apply for Job.

Internship
Steadfast City Economic & Community Partners

NMTC Associate Director

Up to $90,000

/

St. Louis, MO; Rochester, NY; Fairhope, AL or Remote (USA)

/

Business for Good

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Internship

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