Real Estate Development Specialist 1 Or 2

General Description

The City of Madison is hiring a Real Estate Development Specialist!

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.

Initial placement in the Real Estate Development Specialist 1 - 2 class series is determined for each employee based on their training and experience at time of hire. Starting pay is negotiable within the range and will be commensurate with the selected candidate's experience. This series is structured to provide advancement from Real Estate Development Specialist 1 to Real Estate Development Specialist 2 as a function of the employee's career development and generally occurs after two years.

Real Estate Development Specialist 1(CG18, R6), $67,484-$79,458:

This is entry-level professional financial analysis and project management work including responsibility for the planning, coordination and implementation of economic development projects, andthe review and analysis of public financing projects and instruments. This will include assisting with the City's Tax Incremental Financing (TIF) Program. The work is characterized by developing independent judgment and discretion in real estate development activities, including coordination with various ad-hoc inter/intra-departmental project teams.

Real Estate Development Specialist 2 (CG18, R8), $73,199-$86,863:

This is journey-level professional financial analysis and project management work in the real estate field, including responsibility for the planning, coordination and implementation of economic development projects, and/or the City's TIF Program, and the review and analysis of public financing projects and instruments. The work is characterized by more developed independent judgment and discretion in the full range of real estate development activities and places emphasis on the more complex and discretionary elements of professional real estate development, including routine project management, and coordination with various ad-hoc inter/intra-departmental project teams.

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.

The City of Madison is an equal opportunity employer functioning under an affirmative action plan. We value diversity, equity, inclusion, and belonging. Black, Indigenous, people of color, women, trans, nonbinary, and individuals with disabilities are encouraged to apply!

Examples of Duties and Responsibilities

Project Management

• Provide assistance to create and amend TIF districts, including drafting project plans, budgets, required notices, and managing timelines.

• Maintain TIF information systems and databases including Geographical Information System data (training to be provided) related to the City's TIF program.

• Participate as a member of City staff teams to manage complex community, economic, neighborhood, and redevelopment proposals involving DPCED or the Community Development Authority (CDA). Analyze complex community, economic, and housing development proposals involving the City, private developers, and other funding partners, both public and private.

• Make presentations to groups such as committees, boards, commissions and other public and private groups as necessary. Assist with the staffing of City Boards, Committees, and Commissions and perform related staff work as assigned.

Financial and Project Analysis

• Participate as a member of a City staff team to negotiate the level, terms and conditions of City financial participation in proposed real estate development projects.

• Conduct financial analysis of development projects including financial pro forma, market demand and absorption statistics, rates of return required for specific types of investments, performance ratios and the evaluation of public benefit vs. public cost.

• Draft and/or negotiate complex real estate agreements, sales contracts, leases and exchanges with the private sector, public agencies, and governmental units.

• Assist the 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.

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

• Bachelor's degree in Economics, Business, Finance, Urban Planning, Real Estate, or other related field. (Spring 2024 graduates are encouraged to apply.)

If an applicant does not possess the specific requirements outlined above, HR will review the application materials to determine if the applicant possesses the following equivalent experience:

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

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

• Theories, principles, and practices ofcommercial 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.

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 1andReal Estate Development Specialist 2class specifications.

Special Requirements

• Ability to meet the transportation requirements of this position.

• Will be expected to travel throughout the city to visit City-owned property or property under consideration for acquisition.

• Will be expected 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.