Low-Income Housing Tax Credit (LIHTC) CoordinatorFebruary 24, 2023
Are you a housing professional searching for a career through which you can make a meaningful difference? Do you want great benefits and work-life balance? Look no further! The SC State Housing Finance and Development Authority (SC Housing) is actively seeking a Low-Income Housing Tax Credit (LIHTC) Coordinator.
SC Housing is transforming the housing industry in our state through cutting-edge programs and competitive, market-based financial products that make homeownership affordable and quality rental housing possible for many. Our staff is excited about creating solutions that make a difference in the lives of others.
The LIHTC Program provides a tax incentive to develop multi-family rental housing. Allocations of credits are used to leverage public, private and other funds in order to keep rents affordable. Developments that may qualify for credits include new constructions, acquisition with rehabilitation and adaptive re-use. Owners can take the credit for up to ten years if the rental property remains in compliance with occupancy and rent restrictions for at least 30 years. These credits can be used as a dollar-for-dollar reduction in federal income tax liability. Compliance with the Housing Tax Credit Program Qualified Allocation Plan (QAP) and Manual are required for the credits to be allocated.
Responsibilities of the LIHTC Coordinator
As the LIHTC Coordinator, you will work under the general supervision of the LIHTC Manager, performing a variety of complex administration duties involving federal and state regulations. In this role:
- You will assist with the annual program development processes of the LIHTC Program.
- You will provide input and makes recommendations for program enhancements.
- You will assist in the update of manuals, applications, and associated documentation.
- You will assist with workshops in an effort to train and update applicants/potential applicants on legislation, policies, procedures and best practices according to program or regulatory changes.
- You will assist with the reviewing and scoring process of applications submitted.
- You will establish and maintain project files for awarded LIHTC applications through project completion/cancelation.
- You will review and process materials submitted to document compliance.
- You will provide technical assistance to award recipients.
- You will track progress of projects and notify management when intervention is necessary to ensure deadlines are met.
- You will serve as lead contact for communications regarding various LIHTC processes including Program year clarifications, Year 15 process for properties transitioning out of the LIHTC program, prospective waiver requests for Tax Credit applications seeking to pair LIHTC and Tax Exempt Bond financing.
- You will assist with the accurate completion of various internal and external reports(Accountability Report, Impact, NCSHA, etc.). This includes assisting with the annual collection, maintenance, and validation of data needed to prepare the reports.
You will assist the Program Manager in ongoing development and maintenance of the quality control procedures.
- Additionally, you will participate with Quality Control staff to update protocol and processes.
- You will meet with the construction inspector and a member of the development team onsite to discuss rehabilitation requirements and construction progress.
Minimum and Additional Requirements
A Bachelor’s degree in business, accounting, finance or a related field of study and a minimum of three (3) years of full-time, professional experience in the administration of federal programs, housing subsidy programs, housing management, housing finance, real estate, mortgage industry or other housing related field or an equivalent combination of education and experience.*
Candidates must specifically meet the Agency Minimum Requirements or an equivalent combination of education and experience to be considered for this position.
Ability to multi-task, manage time effectively, prioritize tasks, and process time sensitive materials in a fast-paced environment.
Ability to interpret laws, regulations, policies and procedures relevant to federal program management.
Ability to exercise judgment and discretion to make sound decisions supported by facts.
Must have general knowledge of the legal aspects of real estate transactions.
Proficiency in all Microsoft Business software, especially MS Excel.
Position requires minimal travel.
Must be able to lift and carry files, books and reports weighing up to 20 lbs. Must be able to perform filing, desk work and operate general office equipment. Must be able to sit or stand for prolonged or intermittent periods of time while sharing, gathering or presenting information to other staff members or external parties. Employee must be able to perform these tasks with or without reasonable accommodations. SC Housing is committed to a diverse workforce and does not discriminate on the basis of race, color, national origin, religion, age (40+) or disability, sex (Including pregnancy, childbirth, or related medical conditions, sexual orientation, or gender identity).
Our Benefits Package:
The South Carolina State Housing Finance & Development Authority offers an exceptional benefits package that includes:
Accrued Paid Time Off (15 days annual/vacation leave per year and 15 days sick leave per year)
13 paid holidays
Health, dental, vision, long term disability, and life insurance for employee, spouse, and children
Free Telehealth Visits for State Health Plan members
Free Health Programs for behavioral health, chronic conditions, healthier lifestyles, and maternity
State Retirement Plan
Deferred Compensation Programs
401k and 457 plans
MoneyPlus (tax-favored accounts program)
Employee Assistance Program
Adoption Assistance Program
Employee Discount Programs
Tuition Assistance Program (after 6 months of employment)
And much, much more!
Intrigued? Apply now!