Development Financial Manager

SCOPE:

The Oklahoma City Housing Authority (OCHA) provides affordable, decent, safe, and sanitary housing or housing assistance, with quality environments and opportunities for low-income people of Oklahoma City.  The Community Enhancement Corporation (CEC) is the instrumentality of OCHA that acts as the real estate development arm of OCHA while combining services to residents living in specialized housing.  Currently, OCHA and CEC are undergoing an exciting transition by strategically developing opportunities to increase access to housing for individuals and families.  The overall goal of the Development Financial Manager is to generally be responsible for the financial management and reporting of OCHA’s affordable housing development and redevelopment projects. This position does not have supervisory responsibilities.

ACCOUNTABILITY:

Reports directly to the Assistant Executive Director of Development and Community Revitalization.

RELEVANT DUTIES INCLUDE:

This position works closely with development staff to manage the financial aspects of acquisitions, renovations, demolitions, and new affordable housing construction while ensuring compliance with funding requirements and maintaining accurate financial records.

EXAMPLES OF WORK PERFORMED:

Manage the financial planning, budgeting, accounting, and reporting for affordable housing development projects, ensuring compliance with federal, state, local, and funding partner requirements. This includes repositioning of public housing from Section 9 to Section 8 with all HUD programmatic compliance using Rental Assistance Demonstration (RAD), Section 18, Choice Neighborhoods and other HUD programs.

RESPONSIBILITIES:

• Lead financial planning and oversight for affordable housing redevelopment, preservation, and new development initiatives.
• Support the Authority's transition from Public Housing to a self-development affordable housing model.
• Collaborate with executive leadership and cross-functional departments to establish development priorities and capital investment strategies.
• Develop and implement funding strategies to ensure long-term financial sustainability of the affordable housing portfolio.
• Manage capital planning, reserve funding, Capital Needs Assessments (CNAs), Physical Needs Assessments (PNAs), and long-term capital improvement plans.
• Participate in planning Capital Fund Program activities, including Annual Plans, Five-Year Plans, budget revisions, and fund reallocations.
• Prepare and monitor development budgets, financial forecasts, project cash flows, and sources and uses of funds.
• Secure and administer development financing through federal, state, local, and private funding sources, including LIHTC, HOME, CDBG, NHTF, and tax-exempt bonds.
• Ensure compliance with HUD regulations, funding agreements, affordability requirements, and other applicable federal, state, and local requirements.
• Coordinate with Development staff on the necessary environmental reviews, permitting, and regulatory approvals for development activities.
• Oversee financial administration of construction contracts, payment applications, construction draws, and project cost controls.
• Monitor compliance with procurement requirements, Davis-Bacon, Build America Buy America (BABA), Section 3, and MWBE requirements.
• Participate, together with the Director of Real Estate Development, in the coordination of architects, engineers, contractors, consultants, lenders, investors, and public agencies throughout project development.
• Participate, together with the Director of Real Estate Development, in the negotiation development agreements, financing documents, and real estate transactions.
• Monitor project schedules, financing milestones, regulatory deadlines, and grant compliance.
• Prepare executive reports, financial analyses, Board presentations, and project performance dashboards.
• Analyze project performance, financial risk, and development feasibility to support strategic decision-making.
• Develop policies, procedures, and financial controls supporting affordable housing development activities.
• Foster public-private partnerships and leverage funding to advance affordable housing and community revitalization goals.
• Coordinate the financial transition of properties from Public Housing to Affordable Housing platforms.
• Provide technical expertise in affordable housing finance, redevelopment, mixed-finance transactions, and asset repositioning.
• Monitor property financial performance, reserve funding, and long-term portfolio sustainability.
• Evaluate redevelopment opportunities and recommend financing strategies that maximize organizational capacity.
• Perform other related duties as assigned.

REQUIRED QUALIFICATIONS:

Bachelor's degree in Accounting, Finance, Business Administration, or a related field. Four (4) years of progressively responsible accounting or finance experience, preferably involving affordable housing, real estate development, construction accounting, or governmental finance. Knowledge of Generally Accepted Accounting Principles (GAAP), nonprofit accounting principles, budget preparation and financial analysis, HUD regulations, affordable housing finance, and federal grant compliance. Must have strong Excel and financial management software skills and excellent communication and organizational abilities.

PREFERRED QUALIFICATIONS:

Master’s Degree in Accounting, Finance, Business Administration, or a related field, public housing authority or nonprofit housing experience, affordable housing development finance, construction accounting, HUD-funded programs, tax credit (LIHTC) or mixed-finance developments, and grant administration and compliance.

Physical Requirements:

Near vision sufficient to write and read written reports, utilize priority accounting software, develop and maintain financial spread sheet/ledgers, review and comment on contracts/invoices, facilitate income and payment tracking, maintain funding compliance reporting, and maintain electronic master files of all Project/Property financial documents and coordination. Hearing and speech sufficient to communicate clearly with others via telephone, email, text, and in person.  Ability to sit/stand for prolonged periods of time. All physical requirements are evaluated based on the ability to perform, with or without reasonable accommodation under the ADA.