Director, Real Estate and Financial Services - Detroit Economic Growth Corporation

December 05, 2016
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Detroit Economic Growth Corporation

Detroit, Michigan 48226
http://www.degc.org

ORGANIZATION BACKGROUND/CULTURE

The Detroit Economic Growth Corporation (DEGC) is the public-private partnership leading the economic revitalization efforts for Detroit, the most exciting urban recovery in the nation. The DEGC, which has worked on the behalf of the City of Detroit for over 35 years, closely collaborates with other institutions to support existing businesses and bring new employers and investments into the City. The DEGC designs and implements innovative solutions that drive investment, facilitate job creation and strengthen the economy through value-added cross-sector partnerships. The DEGC’s commitment to integrity, transparency, and professionalism permeate the organization, thereby reinforcing its stature as the economic development authority for the City. 

The DEGC provides staff services to Detroit’s public development authorities including The Downtown Development Authority, The Detroit Brownfield Redevelopment Authority, The Economic Development Corporation, The Eight Mile Woodward Corridor Improvement Authority, Neighborhood Development Corporation, the Local Development Finance Authority, and the Tax Increment Finance Authority.

It's an exciting time to live, work and play in Detroit! The City’s economy is growing at an incredible rate and the DEGC occupies a vital and leading role in driving this investment in a strategic manner. Since 2006, there has been over $12B in planned, active, or completed developments in Detroit, and this growth is accelerating every year. Detroit’s recovery and revitalization is undeniable. From London to Shanghai and Seattle to Miami, Detroit is squarely on the radar of companies seeking expansion opportunities. Detroit has also captured the attention of real estate investors and developers looking to pursue catalytic projects, as well as entrepreneurs in search of a nurturing environment that fosters innovation. The question now is how to leverage this momentum to build a sustainable, robust, and inclusive economy.

SUMMARY OF ROLE

The Real Estate and Financial Services Department leads commercial, industrial, and retail development for the City of Detroit. REFS provides land assembly, asset management, site pre-development & development services, developer selection and financial proforma evaluation, deal structuring, incentive validation - City and State, and other project and construction management services. We are looking for a dynamic seasoned real estate professional to provide development planning and analysis, development finance analysis and general commercial real estate analysis for our various projects. This position will assist in overseeing all financial, incentive and loan programs that are administered by the Detroit Economic Growth Corporation (DEGC) and its related entities.

KEY ROLES AND RESPONSIBILITIES

  • Oversee the Financial Services Team, making decisions and recommendations regarding overall financial programs.
  • Oversee Real Estate team regarding the disposition of most commercial properties that are owned by the City of Detroit.
  • Coordinate the disposition of the commercial properties with various City departments including the Detroit Building Authority, the Detroit Land Bank Authority, Planning Department and Mayor’s office
  • Underwrite specific loan requests for the various loan programs.
  • Update and comply with the Credit Policy Manual for the various loan portfolios.
  • Provide development and financial analysis for various projects.
  • Provide marketing and promotional assistance for prospective developers
  • Handle/coordinate business and real estate development/finance loan closings.
  • Assist the City of Detroit with reviewing commercial/financial matters.
  • Loan administration and portfolio management.
  • Develops and maintains appropriate relationships with the U.S. government agencies, State of Michigan, Michigan Economic Development Corporation, City of Detroit, Invest Detroit and other non-profit organizations and private sector that enable DEGC to function as an essential partner for the financing of projects located in the City of Detroit.
  • Others duties as assigned.

PROFESSIONAL EXPERIENCE/QUALIFICATIONS

  • A bachelor’s degree and preferably an advanced degree in business, finance or related field.
  • Commercial real estate development, leasing, and various development pro forma analysis.
  • Good working knowledge of sources of financing for commercial real estate projects including domestic and foreign banks, pension funds, savings and loan institutions, insurance companies, etc.  Particular interest in candidates with working knowledge of creative blending of various public/private sources of development finance together to fill gaps in total development costs.
  • Successful management experience in economic development, business, government or a non-profit organization.
  • Ability to successfully manage multiple and diverse projects simultaneously.
  • Understanding of and ability to work with individuals at many levels within business, labor, government and quasi-public institutions.
  • Excellent written and oral communication skills.
  • Knowledge of MS Office software.

COMPENSATION

A competitive compensation package will be provided to the successful candidates. Salary range is dependent on experience and is accompanied by a full range of benefits. Qualified candidates should respond by sending a confidential resume, and cover letter with salary history.

The DEGC is committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions are based on business needs, job requirements, and individual qualifications, without regard to race, color, religion or belief, sex, sexual orientation, gender identity or expression, national, social or ethnic origin, age, genetic information, disability, or veteran status.