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 important role in managing 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 project 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
Lead Transition Calls for newly closed Partnerships within the assigned portfolio that are either a new relationship and/or an Acquisition Rehab in place
Monitor projects for compliance with partnership agreements
Track, monitor, and calculate credit delivery to include a review of occupancy reports, cost certifications, and 8609s.
Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements.
Reporting & Technology
Collect, review, and provide monthly, quarterly, and annual financial information for the lower-tier partnerships
Work with centralized database system to track project 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
Assist in assigned trainings for the Development Team
Initial Reviewer of new property profile set-ups
Review GP 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
Coordinate compliance reviews with third-party compliance consultants and perform some compliance work in-house
Draws & Funding
Collect and review monthly construction draws and process periodic Equity Installments
Back up the initial Reviewer of equity draws when the Vice President is out.
Bachelor’s degree in accounting, finance, real estate, property management, or business major preferred
A minimum of 4 years of experience working with Section 42 (low income, tax credit) projects in asset management, public accounting, multi-family property management, or development preferred.
A working understanding of compliance and limited partnership agreements and the ability to identify and verbalize issues with the partners is highly preferred.
Must be proficient with Microsoft Office Suite with a heavy emphasis on Excel and Word. Candidate must have excellent communication skills and the ability to comfortably interact with senior management internally and a large external client base.
Limited travel of up to 5% with potential for some overnight. Some overtime is required periodically throughout the year.
Thorough analytical, organizational, interpersonal, and time management skills
Excellent oral and written communication skills
Ability to effectively manage and administer sensitive and confidential information.
Self-motivated and able to work with minimal guidance and supervision.
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.