Asset Manager - San Ysidro, United States - Casa Familiar, Inc.

Description

Job Title:
Asset Manager


Reports to:
VP & Chief Community Development Officer


Status:
Full-time hours/week)


WHAT WE DO

Our Mission:

The mission of Casa Familiar is to enhance quality of life for people living in underserved and underrepresented communities.

Our Vision:
We envision healthy, just, and sustainable communities that reach our full potential.


Our Core Values:

• Integrity honesty, equity, inclusivity, and leading by example.
• Respect respect for self, elders, and others, and respect and care of land and environment.
• Familia familia first, traditions, uplift diminished voices.
• Culture & Community love, support, and accountability, building community, transborder culture.
• Collaboration partnering with residents to enhance quality of life, cultivating relationships.

Founded in 1973, Casa Familiar (Casa) is a community-based organization dedicated to serving residents in the South County area of San Diego.

As the leading social service and community development organization in San Ysidro, our dynamic team of 70 staff members and 50 volunteers provide over 40 bilingual programs and services across six different sites in San Ysidro, Barrio Logan, National City, and Chula Vista.

Our greatest strength is community, and we make sure that the community remains at the center of our work.

With a $7.9M annual operating budget, our programs and services are having a lasting impact on our community for generations to come.

Last year, we proudly served over 20,000 individuals and families.


About this Position

The Asset Manager is responsible for overseeing all aspects of Casa's real estate portfolio with an eye toward ownership on a long-term basis.

This includes representing Casa's ownership interests as well as maintaining the real estate assets themselves.

That portfolio includes housing projects and community facilities and is comprised of properties financed with diverse funding sources including:
Casa's equity; investor equity through use of Low-Income Housing Tax Credits (LIHTC); US Dept.

of Housing & Urban Development ("HUD") HOME Funds; local redevelopment funds; HUD Section 8 Housing Assistance Contracts; 501(c)(3) bonds; New Markets Tax Credits; term loans, and other affordable housing financing.

The position serves as the primary contact for investors, lenders, and regulatory agencies for the purpose of compliance and reporting.

The position interfaces closely with Casa Familiar's Accounting Department and Housing Development Department.


Real Estate Portfolio:

Casa's housing portfolio consists of eight affordable multi-family complexes, with a total of approximately 1,000 affordable housing units predominantly located in the southern portion of San Diego County.

Its portfolio includes several large affordable housing complexes in which Casa is the managing general partner of a partnership that includes for-profit developers.

Casa also has a handful of smaller affordable housing complexes for which it is the sole owner.

Casa also operates several community facilities includes office space, recreational facilities including a large gymnasium, a community kitchen, exercise center, mart gallery, and a small performing arts center—all of which are located in the San Ysidro community in San Diego County.

Casa either owns these facilities or leases them on a long-term basis from the City of San Diego.


ESSENTIAL DUTIES AND RESPONSIBILITIES:


Property Management Oversight and Property Performance - 30%

• Provide direct oversight of thirdparty property management contracts, including negotiating contract terms, and preparing and modifying policies
• Evaluate property management performance against benchmarks to ensure optimum property performance and compliance with regulatory agreements and loan covenants.
• Conduct site inspections to determine the physical condition and results of property management activities
• Manage cash flow tracking systems, analyze performance against annual operating budgets, research variances, and implement operational changes
• Build annual operating budgets for these real estate projects as a part of Casa's budget process
• Develop and maintain replacement reserve analyses for the portfolio, and process replacement and operating reserve draws
• Oversee Income qualification of tenants as well as establishment of rent levels based on the market and restrictive covenants on the properties.
• Ensure property tax exemptions with the County of San Diego on all the applicable properties.
• Compliance and Reporting 30%
• Ensure compliance with all income and rent restrictions for all properties.
• Provide oversight of the preparation and submission of required compliance reporting
• Manage property files, loan documents, partnership agreements, operating manuals, and property management plans.
• Maintain a preventive maintenance program for all properties to ensure cost effectiveness in preserving the r