Job Description

Real Estate Development Specialist 1

General Description

The City of Madison is hiring Real Estate Development Specialists

This position works in the Economic Development Division of the  Department of Planning, Community, and Economic Development (DPCED)  providing professional financial analysis and project management work in the real estate field. This work includes responsibility for the planning, coordination and implementation of economic development projects, and the review and analysis of public financing projects and instruments. This work is characterized by independent judgment and discretion in real estate development activities, and coordination with various ad-hoc inter/intra-departmental project teams. Work is performed under the supervision of the Real Estate Development Manager and/or the oversight of higher level Real Estate Development Specialists.

IMPORTANT: THERE ARE 2 SUPPLEMENTAL ESSAY QUESTIONS ON THE JOB POSTING. 
YOU MUST ATTACH YOUR ANSWERS IN THE ATTACHMENTS SECTION OF YOUR APPLICATION.
(To view the questions, click on the supplemental question tab OR view the bottom section of the job bulletin)
**APPLICATIONS RECEIVED WITHOUT ATTACHED ESSAY RESPONSES WILL IMMEDIATELY BE ELIMINATED FROM CONSIDERATION.**

Employees may be eligible for loan forgiveness through the  Public Service Loan Forgiveness Program .

Black, Indigenous, people of color, women, trans, nonbinary, and individuals with disabilities are encouraged to apply. We value the unique blend of lived experiences and diverse perspectives that comes from non-traditional education pathways and the variety of transferrable skills each candidate brings to the table. We value diversity, equity, inclusion, and belonging. Even if every item on the job posting doesn’t match your experience perfectly, we encourage you to apply and share how your skills and experience can best serve our community.

Examples of Duties and Responsibilities

Project Management

• Draft term sheets, City resolutions, and loan agreements, prepare for financial closings, manage disbursement requests, and track long-term compliance of projects receiving City financial assistance, often through the Tax Increment Finance (TIF) program.
• Create and amend TIF districts, including drafting project plans, budgets, required notices, resolutions and managing timelines.
• Maintain TIF information systems and databases including GIS data related to the City’s TIF program.
• Participate as a member of City staff teams to manage complex community, economic, neighborhood, and redevelopment projects.
• As part of a team, analyze complex community, economic, and housing development proposals involving the City, private developers, and other funding partners.
• As part of a team, negotiate and prepare development agreements, term sheets, purchase and sale agreements, City resolutions, closing documents, and other documents necessary to transact community, economic, and housing development projects.
• Make presentations to groups such as committees, boards, commissions and other public and private groups as necessary, and assist with media inquiries.
• Assist with the staffing of City Boards, Committees, and Commissions and perform related staff work as assigned.

Financial and Project Analysis

• As part of a team, negotiate the level, terms and conditions of City financial participation, often through TIF, for real estate development projects.
• As part of a team, conduct financial analysis of development projects including financial proforma, market demand and absorption statistics, rates of return required for specific types of investments, performance ratios and the evaluation of public benefit versus public cost.
• As part of a team, draft and/or negotiate complex real estate agreements, sales contracts, leases and exchanges with the private sector, public agencies, and governmental units.
• Assist the Community Development Authority (CDA) and the DPCED in the review, analysis and issuance of various public financing instruments including bonds and TIF assistance. Work with other City staff as appropriate.

Real Estate Asset Management

• Coordinate, with internal staff and external consultants and contractors, regarding the management of City owned and leased real estate resources.
• Assist with the management of a portfolio of leases, property management contracts, condominium agreements, and related real estate relationships for City agencies and the CDA.

Miscellaneous Work

• Track and analyze real estate market data and trends.
• Respond to real estate inquiries from general public and elected officials.
• Attend training, develop skills, and remain current on issues impacting real estate development and TIF.

Perform other duties as assigned.

Minimum Qualifications

Two (2) years of experience in applying the following:

• Theories, principles, practices, documents and laws of real estate development.

• Theories, principles, and practices of  commercial real estate finance (discounted cash flow, IRR, basic accounting, etc.).

• Real estate market trends and data.

• Computer software applicable to position responsibilities (Email, Word, Excel, and PowerPoint).

Familiarity with the following:

• Urban planning, construction, and sustainability principles.  

• Private and governmental sources of financing and of local, state and federal programs to encourage economic development. 

• Theories, principles, practices, documents and laws pertinent to real estate acquisition, leasing, and sale within a governmental context. 

OR

Bachelor's degree in Economics, Business, Finance, Urban Planning, Real Estate, or other related field. 

The City of Madison strives to provide exceptional customer service to all its residents and visitors. Therefore successful candidates will have demonstrated ability to effectively work with multicultural communities.

For a complete list of the Knowledge, Skills, and Abilities, please see the  Real Estate Development Specialist 1 class specification.

Special Requirements

• Ability to meet the transportation requirements of this position. Employees will be expected to travel throughout the city to visit City-owned property or property under consideration for acquisition.

• Ability to attend meetings and provide presentations outside the normal work schedule, including evenings and weekends.

Physical Requirements :

• Ability to work at a sit/stand desk for extended period of time using standard office equipment. 

• Ability to access all areas of buildings and property to conduct site visits is desirable but not required. This may involve uneven terrain and stairs.

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