Description

Job Number:

Description

JOB ANNOUNCEMENT

FINANCIAL PLANNING ANALYST-EXCLD (Economic Development)

DEPARTMENT OF PLANNING & DEVELOPMENT

Bureau of Economic Development

Number of Positions: 4

Starting Salary: $86,520.00

Under direction, performs financial analysis, monitoring, and compliance for the City's economic development incentives, including Tax Increment Financing (TIF), Neighborhood Opportunity Fund (NOF), property tax abatement projects, and new project development. This may include underwriting financial data, preparing amortization schedules, and calculating promissory note payments, monitoring project-specific or district-level metrics, performance, and ensuring accountability with redevelopment agreements (RDA), and managing associated community engagement and legislative processes.

ESSENTIAL DUTIES

• Performs financial analysis of proposed development projects by reviewing applications and evaluating the financial feasibility of projects, the amount of public funds required, and the economic benefits to the public sector
• Manages project development for some City-led development projects, including developing financial estimates, overseeing pre-development planning, and collaborating with other stakeholders
• Negotiates redevelopment agreements detailing the terms of the project, including the financing mechanism for the City's payment of eligible costs
• Makes recommendations regarding the City's participation in private development projects as well as resolve projects with compliance issues, and works to ensure projects achieve resolution
• Reviews requests for the payment of City funds, performs payment calculations, analyzes Cook County PIN data, and confirms compliance with existing redevelopment agreement terms and conditions
• Monitors activities of ongoing development projects by reviewing financial documents and approving payments for eligible costs to ensure public funds are properly expended
• Assists in proposing, developing, and operationalizing new policies, strategies, or processes that improve the performance of the City's financial incentives
• Meets with community and local elected officials to explain proposed redevelopment projects and/or designations in their communities and obtain their support. Meetings may occasionally take place in the evening or on a weekend
• Represents the department at various public hearings, special task forces, or other committee meetings to give presentations and explain and discuss financial planning, development projects, and designation as required
• Collaborates with other sections of the department to conduct various reviews (e.g., architectural, construction, compliance) to ensure plans activities are in accordance with the City's plans and policies

Additional duties may be required for this position

Location: City Hall, 10^th Floor

Days: Monday - Friday (occasional weekend hours may be required)

Hours: 8:30am - 4:30pm (occasional evening hours may be required)

THIS POSITION IS IN THE CAREER SERVICE

Qualifications

MINIMUM QUALIFICATIONS

• Graduation from an accredited college or university with a Bachelor's degree in Finance, Business Administration, Accounting, or a directly related field, plus three (3) years of experience in financial analysis, OR
• Graduation from an accredited college or university with a Master's degree in Finance, Business Administration, Accounting, or a directly related field, plus two (2) years of experience in financial analysis.

SELECTION REQUIREMENTS

This position requires applicants to complete an interview which will include a skills assessment and/or written exercise as part of the interview. The interviewed candidate(s) possessing the qualifications best suited to fulfill the responsibilities of the position, based on the oral and written parts of the interview will be selected.

Preference will be given to candidates possessing the following:

• Previous experience evaluating real estate development project financials
• Previous experience reviewing amortization schedules and pro forma in relation to loan underwriting

ALL REFERENCES TO POLITICAL SPONSORSHIP OR RECOMMENDATION MUST BE OMITTED FROM ALL APPLICATION MATERIALS SUBMITTED FOR CITY EMPLOYMENT.

The City of Chicago in an Equal Employment Opportunity and Military Friendly Employer.

City of Chicago

Brandon Johnson, Mayor

Applications for this position will be accepted until 11:59pm CDT on 05/03/2024

Job Posting

Closing Date (Period for Applying) - External

Pay Basis