January 22, 2024
USA (St. Louis, MO Rochester, NY Fairhope, AL preferred)
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
Steadfast City is seeking an experienced team member to provide critical support to clients seeking New Markets Tax Credit (NMTC) allocations to finance community, business, and real estate projects. We are seeking an individual experienced in the NMTC industry who can work with project sponsors throughout the life of a NMTC project from determining NMTC viability, “pitch deck” creation, crafting project narratives, quantifying low-income community (LIC) impacts, marketing the project to potential Community Development Entities (CDEs), socializing the deal to potential NMTC investors, conducting CDE/investor meetings to discuss NMTC projects, representing the project at NMTC conferences, completing intake forms, securing allocation term sheets, and assisting the clients through the NMTC closing process.
We are looking for an excellent communicator with great time management skills and experience in securing NMTC allocations for Qualified Active Low-Income Businesses (QALICBs). The ideal candidate excels in writing, research, document control, and one-on-one communication with clients. Experience with financial analysis, community development, tax credit compliance, capital stacks and knowledge of real estate development is a plus.
The NMTC Manager will work under the direction of the Chief Project Officer on NMTC QALICB projects from inception to allocation to closing and compliance. The NMTC Manager will work closely with the compliance team to effectively and efficiently transition projects from closing to compliance. The ideal candidate will be comfortable communicating and collaborating with colleagues across the organization, clients, and project stakeholders. This position can be primarily remote, but will require some travel, and reports to professionals in St. Louis, MO.
- 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
- 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 starts at $75K+ based on experience
Medical, Dental and Vision Insurance
Flexible working hours
Life Insurance 50k+
We are open to talent from any remote location, but show preference to our physical office locations listed below:
St. Louis, MO
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