Asset Manager

Boulder County Housing Department is seeking to hire an Asset Manager. Under the direction of the BCHA’s Housing Deputy Director, the Asset Manager oversees the administration of BCHA’s real estate portfolio and ensures that BCHA maintains strong physical and financial well-being, complies with legal and regulatory requirements, and assists with fulfilling all internal and external reporting requirements in an accurate and timely manner. The Asset Manager participates during the development process for new properties, including review of selected materials and proposed operating budgets; serves as a key contact for investors, lenders, and regulatory agencies; and works in a collaborative manner with finance, property management, development, maintenance staff and Compliance/Voucher team, to monitor property performance and systems across the portfolio.

This is a full-time, benefited position that will work  Monday - Friday 8:00am - 5:00pm with occasional after-hours as needed, due to the project-oriented nature of the work or to meet deadlines and resolve issues or problems. This position will work out of 514 Coffman St., Longmont, Colorado. Under Fair Labor Standards Act (FLSA) guidelines, this position is exempt.

Boulder County requires its employees to reside in the state of Colorado as of the first day of work.

Hiring Salary Range: $104,004.00 - $126,906.00 Annually

Tentative Hiring Timeline:

• Phone Screening: Week of July 6th
• First Round Interviews:  Week of July 13th
• Second Round Interviews:  Week of July 20th
• Reference Check:  Week of July 20th

New employees receive an 80-hour bank of vacation at the time of hire, in addition to 8 hours of both vacation and medical leave accruals each month (Must not have been employed at Boulder County during the 12 months prior to re-hire date to qualify). Boulder County offers bountiful benefits, including pension contributions.

Boulder County employees may qualify for Public Service Loan Forgiveness (PSLF). Visit studentaid.gov for more information.

1. In partnership with the finance team, conduct financial review, oversight, and planning for BCHA’s real estate portfolio including operating budgets, reserve accounts, capital improvement plans, financial reports, and audits
2. Closely monitor and consistently report on the operational and financial performance of the portfolio of properties relative to budgets and development proformas
3. In collaboration with the Finance, Operations Team and Development Directors, secure necessary financing and refinancing
4. In collaboration with finance and the business analyst, evaluate, monitor, create and maintain dashboards to illustrate financial performance against benchmarks and requirements stated in limited partnership and loan documents
5. Provide information for internal, Board, and external presentation of property and portfolio performance and strategic outlook on long term operations
6. Facilitate project lifecycle transitions, including development to operations, re-syndication, dispositions, etc.
7. Collaborate with operations team to maximize revenue, and control expenses to maintain operating margins, adequate reserves and cover debt service

1. Closely monitor and consistently report on the operational and financial performance of the portfolio of properties relative to budgets as well as development performance
2. Review and make recommendations regarding analysis and distribution of cash flow from properties through partnership waterfalls on an annual or semiannual need, including special distributions relating to capital transactions for refinancing, sale, etc.
3. Work with Development Team to prioritize and advance necessary funding requests and applications
4. Communicate with partners and/or lenders to ensure the long term physical and financial health of the properties
5. Work with investors and lenders on exits, re-finances, dispositions, and workouts
6. Review tax returns and audits for portfolio properties
7. In collaboration with finance team, maintain organized, systematic electronic and as appropriate, traditional files to contain limited partnership agreements, loan documents, regulatory agreements, etc. for all properties owned and in service
8. Participate in the development of annual property budgets by working with Housing Operations manager
9. In collaboration with the finance team, prepare and coordinate the distribution of quarterly, annual and periodic reporting to lenders, investors and regulatory agencies
10. Work closely with Finance to prepare reserve draw requests ensuring they are complete and there are adequate reserves

1. Create and maintain an annual project compliance and monitoring schedule for all properties
2. Perform compliance oversight, monitoring, and implementation including development of summaries and schedules of regulatory compliance, correction of findings, and correspondence with regulatory agencies, lenders, and investment partners
3. Maintain property records, including partnership agreements, loan documents, deeds, management agreements and plans, warranties, mechanical systems instructions, and as-built plans
4. Provide physical oversight, inspections, and planning, including risk management and annual inspections, Capital Needs Assessments (CNAs) and Reserve Analysis, and tracking reserve funding and use
5. Organize the development of capital improvement and fleet vehicle plans by working with the Housing & Maintenance managers and Capital Improvements specialist and utilizing input from relevant sources such as annual property budgets and reserve balances; track and monitor each active capital improvement plan
6. Familiarity with partnership agreements, financing documents, regulatory agreements and other sources to determine financial and regulatory reporting requirements and ensure the properties are in compliance

1. Collaborate with Property Management and Housing Choice Voucher (HCV) program staff to support strong voucher utilization across all BCHA owned and managed properties, ensuring units are leased in alignment with regulatory requirements and program goals
2. Monitor occupancy trends and voucher lease up rates within the portfolio; identify barriers to utilization and work with internal teams to implement solutions that maintain high occupancy and revenue stability
3. Review property level financial and operational impacts of voucher utilization, incorporating voucher performance into ongoing revenue planning, budgeting, and portfolio analysis
4. Provide timely reporting and analysis related to voucher usage for internal leadership, funders, regulatory agencies, and external partners
5. Coordinate with Development, Housing Operations, and Compliance teams to ensure that unit configurations, rent limits, and lease up strategies support optimal alignment with voucher program requirements
6. Serve as a resource to property management staff on voucher related questions, regulatory considerations, and rent determination processes relevant to maintaining full utilization

1. Manage annual insurance renewals and collaborate with property management and maintenance staff to handle insurance incidents and claims
2. Work with appropriate risk management/insurance professionals to ensure that all investors, lenders, regulatory agencies, etc. are notified annually upon the renewal of property and liability insurance policies
3. Manages the annual insurance renewals and collaborates with property management and maintenance staff to handle insurance incidents and claims

1. Work cross functionally with other departments to develop and implement annual asset management plans, set operating benchmarks, and achieve defined property goals consistent with BCHA’s strategic plan
2. Work with leadership to develop reports and presentations for partners, funders, and investors on an annual basis
3. In collaboration with leadership, connect with funders, investors, and local partners as owner representative for BCHA, developing trust and building consistent and constructive problem-solving approaches
4. Establish and maintain effective business relationships with lenders, investors and other affordable housing partners
5. Collaborate with property management staff to maximize revenue, and control expenses to maintain operating margins, adequate reserves and cover debt service

1. Performs related work, as required
2. May be reassigned during emergency situations

PLEASE NOTE: When completing your application describe all relevant education and experience, as applications are assessed based on the required qualifications listed. Resumes and other attachments are not accepted in lieu of completed applications and will not be reviewed in the initial screening process. Any personally identifiable information (PII) such as name and address will be redacted from applications that meet the minimum screening requirements and are forwarded to the hiring manager. If the hiring manager selects you to advance in the hiring process, your attachments will then be shared with the hiring team.

EDUCATION & EXPERIENCE:

Boulder County is looking for well qualified candidates to fill our positions. Any combination of relevant education and experience is encouraged. In this position, we are looking for a minimum of:

• 10 years of combined education and experience in in facilities, property, operations work in affordable housing or a related field

Additional related education may count towards required experience.

DRIVER'S LICENSE & RELIABLE VEHICLE:

• Applicants must have a valid driver's license and a clean driving record
• Access to reliable transportation that is readily available for business use
• For more information regarding a clean driving record, please click here.

BACKGROUND CHECK:

• A job offer is contingent on passing a background investigation

PREFERRED QUALIFICATIONS: 

• New construction experience
• Experience in asset management including, equipment, vehicles, property, etc.
• 5+ years of experience in affordable housing work, including development, refinancing, partnership buyouts, rehabilitation, and re-syndication
• Experience with Low Income Housing Tax Credits (LIHTC)

KNOWLEDGE, SKILLS, & ABILITIES:

• Ability to stay organized
• Ability to develop budgets for multiple properties
• Ability to develop schedules for regular maintenance
• Knowledge of and passion for advancing the mission of Boulder County Housing Authority
• Friendly and positive with the ability to interface with a wide variety of individuals and in a variety of public presentations; establishes and maintains effective working relationships based on mutual trust, respect, and cooperation
• Organizes, prioritizes, and manages multiple job responsibilities in a fast-paced environment
• Knows, understands, and adheres to organizational policies and procedures
• Strong work ethic; self-motivated, proactive, and resourceful; continuous learner
• Quality and excellent customer service oriented
• Team player who is willing to go above and beyond to help others
• Proactively identifies and recommends changes to support continuous improvement efforts
• Demonstrates willingness and ability to work additional hours as needed
• Demonstrates professionalism, integrity, and confidentiality
• Displays a high level of attention to detail and accuracy
• Applies strong critical thinking skills and sound judgment
• Utilizes strong verbal and written English language skills
• Effectively identifies and addresses the needs of internal and external customers, including other agencies and the public
• Develops and delivers effective public presentations
• Proficient in reading, analyzing, and interpreting technical documents, procedures, reports, and governmental regulations
• Works well independently with minimal supervision and as an active, engaged team member

PHYSICAL REQUIREMENTS:

Work Environment: Works in clean, comfortable environment in the office. On housing sites, may occasionally encounter fumes and/or loud noise.

Physical Demands: This position works in an office setting and occasionally at housing sites. It primarily involves sedentary physical work requiring the ability to lift a maximum of 20 pounds; occasional lifting, carrying, walking, bending over, and standing; frequent hand/eye coordination and finger dexterity to operate personal computer and office equipment; vision for reading, recording and interpreting information; speech communication and hearing to maintain communication with employees and customers. At housing sites, the position may involve walking, bending, climbing stairs, and similar physical activities.

Equipment Used: Frequently uses standard office equipment including personal computers, scanners, calculators, printers, shredding machine, telephones, fax and copy machines.

Boulder County is a workplace dedicated to supporting individuals and families of all types and to fostering a diverse, inclusive, and respectful environment for all employees. We prohibit unlawful discrimination against applicants and employees on the basis of race, color, religion, gender, gender identity, national origin, age, disability, socio-economic status, sexual orientation, genetic information, or any other status protected by applicable federal, state, or local law.