CPED Project Coordinator
The CPED Project Coordinator position with the City of Minneapolis Community Planning and Economic Development Department is responsible for facilitating financial closings, administering allocated project funds, and communicating with people who receive financing about compliance requirements and expectations.
The vacancy will specialize in real estate development loans for 1 - 20 unit residential real estate development projects related to the Minneapolis Homes program. The Minneapolis Homes program provides financing, property, and education to residents and developers in order to reduce property vacancy, create new housing units, and sustain homeownership in the City of Minneapolis.
- Review potential projects for compliance with overall planning objectives as well as fiscal and physical feasibility.
- Respond to requests from private or non-profit developers, residents or contractors seeking City approval and/or financial support for projects involving specific properties or specific uses where the property or location needs to be identified.
- Assist in preparing requests for proposals outlining project opportunities, identifying City objectives and identifying criteria for proposal selection.
- Assist potential developers in developing timelines for process steps involving City review and approval of uses, site plans, and building plans and subsidized financing; work with all involved parties to keep project on schedule.
- Prepare documents for loan closings, including mortgages, notes, restrictive covenants, and title instructions.
- Underwrite financing for homebuyer down payment assistance loans.
- Process draw requests for closed loans.
- Assist potential developers with project budget development by identifying property costs, site remediation costs, fees, upgrade requirements and available public sources of funds. Work with financial staff to determine sources of public funds as well as the timing of cash flow.
- Participate in the design and development of programs, including financing plans that will encourage productive development or redevelopment within the City.
- Monitor projects to ensure compliance with development agreements and pursue remedies for non-compliance.
- Respond to requests for information in a timely manner.
Bachelor's Degree in Urban Planning, Economics, Business Administration, Public Administration, Architecture, Finance, related field or equivalent experience closely related to the duties of the position.
Two years experience in urban planning, project management, mortgage underwriting and closing, or real estate development.
An equivalent combination of education and experience closely related to the duties of the position will be considered.
- Ability to relate and work effectively with people from diverse cultural, economic and ethnic backgrounds.
- Current license from Nationwide Multistate Licensing System and Registry (NMLS)
- Certified Housing Development Finance Professional or Economic Development Finance Professional from the National Development Council (NDC)