CREA, LLC is a full-service Low Income Housing Tax Credit (LIHTC) syndicator forming long-term relationships with investors and developers that cultivate success and improve lives. As CREA celebrates over 20 years in business, $9.2+ billion has been raised, contributing to the formation of over 73,000 homes within 797 properties. With over 160 employees, we continue to look for talented and passionate individuals who are excited about opportunities to grow with us into the future.
This position will play an essential role in managing a portfolio of assets in the Development phase within CREA, LLC’s portfolio of Section 42 low-income housing tax credit projects. Specific tasks will include:
Maintain a detailed working knowledge of each property within the assigned portfolio
Oversee and monitor achievement of benchmarks such as construction completion, initial lease-up, stabilization, permanent loan conversion, and receipt of executed 8609s.
Reporting & Technology
Collect, review, and provide reporting on monthly, quarterly, and annual financial information Work with Investment Central database system to track property data
Analyze benchmark and financial statements and perform risk rating analysis
Assist in collecting tax returns and audits and coordinate review and approval through CREA’s Fund Management Group
Special projects and reporting as requested
Compliance and Tax Credit Delivery
Track, monitor, and calculate credit delivery to, include reviewing occupancy reports, cost certifications, and 8609s.
Monitor properties for ongoing compliance with Partnership Agreements
Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements
Review General Partner requests on potential deal changes and prepares formal requests for Investor Relations
Ensure projects remain in balance during the development process and identify potential solutions to keep properties in balance when needed
Draws & Funding
Collect and review monthly construction draws and process periodic Equity Installments
Work with internal and external partners to project future equity timing and needs
A minimum of two years of direct experience working with Section 42 (low-income tax credit) properties in the areas of asset management, public accounting, multifamily property management, or development.
Minimum of a high school diploma
Direct experience with LIHTC compliance and credit delivery
Must be proficient with Microsoft Office Suite with a heavy emphasis on Excel and Word.
Must be able to comfortably interact with senior management internally and a large external client base.
The ability to identify and verbalize issues with the partners
A valid driver’s license is required for limited travel of up to 5% annually, with the potential for some overnight.
Bachelor’s degree with a major in accounting, finance, real estate, property management, or business
Excellent problem-solving, organizational, interpersonal, and time-management skills
Ability to identify, simplify, process, and resolve complex issues
Excellent oral and written communication skills
Ability to efficiently receive, monitor and follow through on requests, projects, and problems to completion
Ability to prioritize and meet deadlines
Ability to effectively manage and administer sensitive and confidential information
Must have excellent initiative and can work with minimal guidance & supervision
Commitment to excellence, attention to detail, and accuracy, providing high-quality work product
We work as a family, investing in each other, worthy causes, and the communities we serve.
We have integrity in all that we do; we embrace differences and treat others with kindness and respect.
We believe that, with teamwork, we can accomplish anything and pursue inventive solutions for our clients.
CREA believes in rewarding the hard work of all those that make our mission possible. Learn about our competitive employee benefits at MyCREABenefits.com.