The College Park City-University Partnership (Partnership) is developing the Community Preservation Trust, a shared-equity housing program designed to preserve housing affordability and to stabilize neighborhoods.
The Partnership has secured commitments for more than $15 Million to implement the vision of the Community Preservation Trust. Its purpose is to stabilize neighborhoods and preserve housing affordability in the City of College Park through the purchase and land leasing of single-family homes as an Affordable Housing Land Trust. The Trust will target applicants with family incomes up to 140% of the HUD Area Median Income for the Washington DC Metro Area. A related graduate student rental program will likewise acquire single-family homes and smaller, multifamily properties, for lease to graduate students. These goals align with the City-University Partnership’s University Community Vision 2030, with a focus on preserving housing affordability, increasing the availability of affordable housing, and development of graduate student rental properties.
The Trust will purchase the properties, improve them as necessary, and sell them to owner occupants at an affordable price with a 99-year Affordable Housing Land Trust Agreement recorded against the land. Owner occupants must meet certain affordable housing income criteria, as well as be able to secure a mortgage. Upon resale, there will be a shared equity arrangement between the Homeowner and the Trust.
The Senior Associate reports to the Trust’s Executive Director. The Senior Associate will be responsible for coordinating the day-to-day operations of the Trust. This includes responding to inquiries from potential and existing homeowners, lenders and grantors. The incumbent will perform financial analysis on individual transactions as well as on the overall portfolio. The incumbent will assist in program management and work to ensure adherence to federal, state and local funding and reporting requirements. They will also work closely with Partnership bookkeeping and accounting teams as necessary.
- Interest in and commitment to affordable housing
- Strong analytical skills including financial analysis and proficiency with Excel required, with proficiency in social media and websites a plus
- Undergraduate degree in any subject with a master’s degree (or working on one) in a related field desired.
- Familiarity with College Park—the city and its neighborhoods—and the University of Maryland is a plus.
- Experience with affordable homeownership / neighborhood preservation programs
- Familiarity with government regulations for affordable housing / neighborhood preservation programs
- Comfort interacting with a variety of people, given the range of work being undertaken and a willingness to work in person for a significant portion of hours during the week.
- May require occasional evening hours for community meetings, homeownership classes, and the like
- Experience with asset management, rehabilitation preferred
- Ability to speak another language would be a plus
Compensation is open and based upon experience.
The position is available immediately and will remain open until filled. If interested, please send cover letter (including a link to your LinkedIn profile if you have one) and resume to:
Daniel Cunningham, Executive Director, Community Preservation Trust email@example.com