LIHTC Asset Manager – Agoura Hills, CA

Company

AMCAL is a $2.5 billion developer, general contractor and owner of diverse residential real estate projects including student, market-rate and affordable housing in California and Texas.  AMCAL’s headquarters are located in Agoura Hills with additional offices in West Los Angeles and Farmers Branch, TX.  This position is located in Agoura Hills, CA.    

Asset Manager

This position reports to the Director of Asset Management and is responsible for the performance of assets in the Company’s affordable housing portfolio.  This is an opportunity to join a fast paced team environment with clear opportunities for growth.  The ideal candidate has 3-5 years of experience in LIHTC asset management working for a General Partner.  Success will be dependent on the candidate’s ability to thrive in an environment that is highly entrepreneurial, strategic and creative which requires rapid learning, multi-tasking and prioritizing under tight deadlines.

Responsibilities:

  • Perform review of monthly property financial statements, including analysis of balance sheet, income statement and variance report, to support portfolio performance reporting for senior management, lenders and investors. 
  • Assess project and partnership risk factors as they pertain to compliance with Section 42 (LIHTC) provisions, terms of the partnership agreement, loan documents, LURAs, QAPs, and tax credit application.
  • Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company.  
  • Provide operational feedback to Construction and Development teams to inform design, leasing, financing and disposition strategies for new development projects.
  • Support due diligence efforts related to the acquisition, capitalization and disposition of assets.
  • Coordinate regular asset calls and site visits with property management teams to ensure goals and budgets are being met, and if not, determine strategies for corrective action. 
  • Negotiate and monitor contracts including leases, management agreements, vendor contracts, utility contracts, etc. to protect ownership rights and ensure contract compliance.
  • Establish strategies for the resolution of insurance claims and tenant legal proceedings related to non-payment, illegal, and fraudulent activity at the property and/or tenant level.

Qualifications & Skills

  • Bachelor’s Degree with a concentration in Real Estate, Finance, or Business preferred
  • Advanced degree preferred but not required
  • 3-5 years of relevant experience in multi-family asset management (GP side)
  • Working knowledge of Section 42 (LIHTC) principles and requirements  
  • Experience with Yardi/Real Page and MRI Developer Central a big plus 
  • Strong analytical and quantitative skills with emphasis in financial analysis
  • Understanding of real estate accounting principles and financial reporting procedures with ability to analyze variances.
  • Able to read, analyze, and interpret complex business documents including leases, financial reports, contracts, loan documents and regulatory agreements.
  • Proficiency with Microsoft Office suite.  Strong understanding of Excel is a must.
  • Able to work proactively, independently and as a strategic partner in a team environment
  • Effective presentation and communication skills, both verbal and written
  • Annual property inspections required.  Approximately 5% travel annually.

Compensation

  • Commensurate with experience
  • Annual bonus based on salary and performance
  • Three weeks Paid Time Off annually (after 30 days)
  • Hybrid Work Schedule Options Available (after 90 days)
  • Monthly Auto and Cell Phone Stipend
  • Full health coverage and benefits (after 90 days)
  • 401(k) retirement plan (after six months) with up to 5% match

Applications

AMCAL Multi-Housing, Inc.

The AMCAL group of Companies, one of the Nation’s leading housing development companies is developing quality rental and ownership residential properties throughout California and Texas including Affordable Housing, Luxury Apartment Housing and Student Housing.  The Company was founded in 1978.  An affiliated company, AMCAL General Contractors Inc. builds all of AMCAL’s projects.  For more information, visit our website at www.amcalhousing.com.  AMCAL Multi-Housing Inc. is an equal opportunity employer.

Assistant Construction Manager — Los Angeles, CA

Position Summary

AMCAL, a 44-year-old developer and general contractor of diverse real estate projects in California, is seeking an energetic individual to fill the position of Assistant Construction Manager. Primary job responsibilities will be related to the construction management of multi-family residential projects throughout Southern California, and especially urban in-fill developments in the Los Angeles area.

Candidates for the Assistant Construction Manager position should have extensive experience in a combination of the following areas: the pre-construction process with regard to interfacing with the company’s development team, city government especially with regard to the permitting process, architects, civil, structural, mechanical, electrical and plumbing engineers, utility companies, construction consultants, and construction lender’s representatives; subcontract bidding, negotiation and purchasing, construction scheduling, and the management and tracking of construction jobs from conception to finish including the management and overseeing of field superintendents and some in-house personnel.  The Candidates should be skilled with the MS Office suite, specifically Excel and also critical path construction scheduling program(s) – preferably MS Projects or other project management software such as Procore, and recognize that detail-oriented tasks are critical to a business’s long-term success.  This is a mid-level management position reporting to the Construction Manager, with responsibility based on demonstrated ability. 

Responsibilities

Assistant Construction Manager shall assist the Construction Manager as may be required in the following tasks:

■ Assistant Construction Manager shall become very familiar with all aspects of the plans and reports relevant to each project prior to assisting Construction Manager with all purchasing and project monitoring, and shall attempt to obtain qualified preliminary and final pricing on various generations of plans as the need may arise.

■ Visit the site, under the guidance of the Construction Manager, as soon as possible and become familiar with it and the area and any potential critical issues that may affect the construction costs and schedules.

■ Assistant Construction Manager shall work with the Construction Manager to become aware of relevant City conditions and the local codes involved on the individual project venues.

■ Assistant Construction Manager shall become familiar the TCAC requirements for each project, be they senior, family, farm worker or other similar classified product types as they may occur.  Assistant Construction Manager shall review all plans and reports in light of the required TCAC issues to be addressed and implemented.

■ Review the Preconstruction and Preliminary Construction Schedule to become familiar with the time of year the project is to start and elements relating to that such as environmental issues, erosion control, excavation, etc.

■ Assistant Construction Manager shall assist Construction Manager in analyzing all construction means and methods with the Project Superintendent and determine the most efficient and cost effective way to proceed.

■ Assistant Construction Manager shall assist Construction Manager as may be required in compiling historical costs of similar projects and use his experience and expertise in analyzing the project for more cost efficient ways of design.

■ Assistant Construction Manager shall become familiar with the specific CALOSHA safety procedures and requirements in general and that may be specific to a particular job.

■ Assist Construction Manager to aid in his/her purchasing of the project in an Expeditious manner.

■ Assistant Construction Manager shall be able to issue, analyze and monitor Requests for Information/Submittals and monitor the various logs for same.

■ Assistant Construction Manager shall assist Construction Manager in the preparation a bid spread sheet that shows all bidders and a comparison of the primary elements involved in the purchase such as breaking out material from labor, unit pricing, and an “apples to apples” comparison of items bid, along with Construction Manager’s recommendation for the subcontractor or supplier to be awarded the contract.

■ Assistant Construction Manager shall assist Construction Manager in making sure that all contracts shall be awarded at least one month prior to the work starting on the project. 

■ Assistant Construction Manager shall disburse and manage all plan distribution, including all subsequent revisions to plans.  Assistant Construction Manager shall make sure that all subcontractors affected by revisions in plans (RFI or Delta’s) are notified and any cost impacts/delays are obtained and documented.

■ Assistant Construction Manager shall prepare close-out packages for lender and asset/property management.

Job Characteristics

  • Use of personal vehicle will be required (valid driver’s license and insurance required)
  • Exemplary organizational and communication skills, a high capacity to multi-task, and the ability to manage consultants and personalities are prerequisites
  • Position based in Los Angeles, CA – relocation not covered
  • A criminal background check and review of current driving record may be required

Job Benefits

  • Salary – DOE
  • Health/Dental/Chiropractic coverage available for individual after three months Dependents can be covered at employee’s expense.
  • Life Insurance.
  • 401K participation with matching up to 5% of your base salary or $7,000, whichever is less. Matching begins in 2022 and the match for 2022 will be made in February 2023.
  • Three weeks’ leave (vacation, personal, sick) for the first six years. Four weeks’ leave thereafter.
  • Nine paid holidays.

Applications

  • No phone calls, please.

Please e-mail a cover letter and resume to jgordon@AMCALhousing.com.

AMCAL General Contractors, Inc.

The AMCAL Group of Companies, one of the Nation’s leading housing development companies is developing quality rental and ownership residential properties throughout California and Texas including Affordable Housing, Luxury Apartment Housing and Student Housing.  The Company was founded in 1978.  An affiliated company, AMCAL General Contractors, Inc. builds all of AMCAL’s projects.  For more information, visit our website at www.amcalhousing.com.  AMCAL General Contractors, Inc. is an equal opportunity employer.

Construction Project Accountant — Agoura Hills, CA

Position Summary

AMCAL General Contractors, Inc. is a rapidly growing private developer of diverse real estate projects, and is seeking an individual to fill the position of Construction Project Accountant.

Candidates for the Construction Project Accountant position should have a minimum of 5 years of construction accounting experience.

Candidates should be skilled with the MS Office, Excel and Sage 300 “Timberline” accounting system, and recognize that detail-oriented tasks are critical to a business’s long-term success.

Familiarity with Textura Payment Management and Procore is a plus.

This is a mid-level accounting position reporting to the Accounting Manager.

Responsibilities

• Process all payables for both the GC and Developer.
• Process all draws for the GC and developer, including preparing the G702/03, all GC releases and the developer bank lender sheet.  Multiple lenders may be involved.
• Maintain the GC and Developer job costs and budgets (internal and lender), under the direction of the Development Project Manager and Construction Project Manager.
• Process all checks and ACH payments for the GC and the Developer.
• Collect all lien releases and paperwork for the GC.
• Enter all contracts, change orders, insurance, and licenses for the GC and developer once received from the contract administrator.
• Prepare all monthly financials (Balance sheet, income statement, bank reconciliations trial balance, GL and job cost) for assigned projects, including processing and posting interest and balancing the AMCAL books to the loan statements.
• Provide reports to CPA when a written checklist of items needed is provided for cost certifications and other audits, etc.
• Write up journal entries for partnership/loan closings, land closings, etc. that have detailed explanation and have them approved and signed by the Director of Project Accounting
• Set up and maintain any due diligence projects assigned.

Job Characteristics:

• Applicant must have a very strong Construction Accounting background.
• A strong Development Accounting background is very helpful.
• Multi-Family Accounting experience is very helpful.
• At least 5 years work experience in Construction Accounting and/or coursework in a field supporting the job.
• Experience with a Low-Income Housing Tax Credit (LIHTC) developer helpful.
• Exceptional organizational, analytical, and written and verbal communication skills and a high capacity to multi-task are prerequisites.
• Position is based in Agoura Hills, CA (not remote) – relocation not covered.
• A criminal background check and review of current driving record will be required.

Job Benefits

  • Salary – DOE.
  • Health/Dental/Chiropractic coverage available for individual after three months. Dependents can be covered at employee’s expense.
  • Life Insurance.
  • 401k participation with matching up to 5% of your base salary or $7000 whichever is less. Matching begins in 2022 and the match for 2022 will be made in Feb. 2023.
  • Three weeks leave (vacation, personal, sick) for the first six years. Four weeks leave thereafter.
  • Nine paid holidays.
  • Discretionary bonus based on individual and company performance.

Applications

AMCAL General Contractors, Inc.

AMCAL General Contractors, Inc., one of the Nation’s leading housing development companies, is developing quality rental and ownership residential properties throughout California and Texas including Affordable Housing, Luxury Apartment Housing and Student Housing. AMCAL General Contractors Inc. builds all of AMCAL’s projects. The Company was founded in 1978. For more information, visit our website at www.amcalhousing.com. AMCAL General Contractors, Inc. is an equal opportunity employer.

Senior Affordable Housing Development Project Manager — Agoura Hills or West Los Angeles, CA

Position Summary

AMCAL Multi-Housing, Inc., a rapidly growing developer of affordable, market rate and student housing, is seeking an individual to fill the position of Senior Project Manager. Primary job responsibilities will be to coordinate, implement, and manage activities related to affordable housing developments in California, Washington State and Texas. Development includes the acquisition of land, performing all tasks necessary to conduct feasibility analysis, obtaining entitlements, preparing pro formas and applications to obtain all necessary project financing, and coordinating with the development team to obtain all required permits to start construction. This position will work out of our Agoura Hills or West Los Angeles office in a fast-paced work environment. Candidates for the Senior Project Manager position should have a minimum of a bachelor’s degree and 10 years on the job experience in real estate development with an emphasis in multi-family housing, specifically affordable housing development/ project management. Additional consideration will be given to candidates with a Master’s degree in real estate, city and regional planning, business, finance, public policy, architecture or a related field. Candidates should be skilled with the MS Office suite, and recognize that detail-oriented tasks are critical to a business’ long-term success. Responsibility for project success begins with the proper evaluation of land acquisition strategies and procurement of the required public subsidies. The Senior Project Manager will work with the Project Managers and Senior Staff to best position these efforts and ensure successful completion of all applications and calculate financing strategies. The position may include additional Project Management responsibilities, as listed below. This is a high-level position that reports to Vice President of Development.

Responsibilities

  • Research and develop financing sources, prepare/coordinate financing applications and meet other lender requirements.
  • Coordinate with Director of Tax Credit programs to procure construction and permanent financing for developments.
  • Assist Director of Tax Credit program with due diligence requirements for Investors/Lenders at partnership/loan closings.
  • Assist Director of Tax Credit programs in analyzing partnership structure, lender products to realize most advantageous terms for AMCAL and the development
  • Maintain up to date information bank for all funding sources available for the development of affordable housing in California and their application to current and pipeline projects.
  • Assist in the preparation and updates of project proformas.
  • Oversee Project Managers in organizing, coordinating, documenting and facilitating partnership and escrow closings.
  • Provide input on project design development and make sure project plans and specifications are received by construction in a timely manner.
  • Work with construction department, and Director of Tax Credit program to prepare project’s development and construction budget.
  • Coordinate with Project Managers to complete project funding applications to local, state, and federal agencies and ultimately close the financing with all such agencies.
  • Oversee Project Managers in managing and working with the construction team to ensuring a financially feasible and operationally viable development in a timely and cost efficient manner.
  • Assist Project Managers to monitor and prepare project budgets, cash flow projections, and project schedules.
  • Assist Project Managers to monitor contract compliance, project budgets, and flow of funds throughout the development
  • Assist Project Managers to manage the construction process including compliance with local government and lender requirements. 
  • Assist Project Managers to ensure compliance with plans and specifications with the construction department.
  • Assist Project Managers to manage all key dates/activities regarding various tax credit agencies on awarded projects, (150-day rule, Carryover/10% extension, Final Res, 8609).
  • Assist Project Managers to manage the conversion process from construction to Asset Management
  • Promote the highest quality development that reinforces AMCAL’s commitment to long term viability.
  • Strategize and coordinate with other departments to make sure that programmatic issues with respect to the development and operations are adequately addressed.
  • Attend interdepartmental meetings and general AMCAL meetings as required.
  • Undertake any other projects or tasks as may be assigned.

Job Characteristics

Applicant should have a minimum of a bachelor’s degree and ten (10) years on the job experience in real estate development with an emphasis in multi-family housing and/or affordable housing development project management. Additional consideration will be given to candidates who possesses a Master’s degree in real estate, city and regional planning, business, finance, public policy, architecture or a related field and two years of experience in affordable housing.   Extensive experience with low income housing tax credits is a prerequisite. High degree of independence, motivation, and accountability. High degree of competence with private and public debt financing and equity typical for affordable housing development. Proven experience in all phases of new construction development process. Exposure to design issues and construction materials and methods. Able to work with time sensitive material and meet multiple deadlines. Exceptional organizational, analytical, and written and verbal communication skills and a high capacity to multi-task are prerequisites.    Excellent interpersonal skills is a must.  Ability to work with a team. Prior employee management experience is required and will be verified.  

Position: Position based in Agoura Hills, or West Los Angeles, CA – relocation not covered A criminal background check and review of current driving record may be required.

Job Benefits

  • Salary – DOE.
  • Health/Dental/Chiropractic coverage available for individual after three months.  Dependents can be covered at employee’s expense.
  • Life Insurance.
  • 401K participation with matching up to 5% of your base salary or $7,000, whichever is less. Matching begins in 2022 and the match for 2022 will be made in Feb. 2023.
  • Three weeks leave (vacation, personal, sick) for the first six years, 4 weeks thereafter.
  • Nine paid public holidays.
  • Discretionary bonus based on individual and company performance after FYE.

Applications

AMCAL Multi-Housing, Inc.

The AMCAL group of Companies, one of the Nation’s leading housing development companies is developing quality rental and ownership residential properties throughout California, Washington State and Texas including Affordable Housing, Luxury Apartment Housing and Student Housing.  The Company was founded in 1978.  An affiliated company, AMCAL General Contractors Inc. builds all of AMCAL’s projects.  For more information, visit our website at www.amcalhousing.com.  AMCAL Multi-Housing Inc. is an equal opportunity employer.