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Portfolio Development Manager

Organization Summary: TapRoot Community Land Trust (CLT) is an affordable housing nonprofit organization serving Ulster County, NY. TapRoot CLT provides significant subsidies to lower the cost of homes so they are affordable to folks with modest incomes. The homes are owned by individuals or families, and the land underneath the homes is owned by the land trust. Each home placed into the trust is sold at an affordable rate, permanently removed from the speculative market and designated to remain affordable for all future residents. The homeowner benefits from the below-market price and the community benefits because they know the homes will remain affordable, preventing gentrification and displacement of valued community members now and in the future.

Job Summary: The Portfolio Development Manager position will primarily be responsible for overseeing TapRoot’s process of bringing homes into the TapRoot portfolio. Specifically, the Portfolio Development Manager will work with the TapRoot Program Manager, TapRoot Board of Directors, and Portfolio Expansion Committee to execute the organization’s Portfolio Development Strategy. This is a newly created position with opportunities for advancement, as TapRoot is well-positioned for additional growth over the next several years. Currently, the Portfolio Development Manager position is being offered as a part-time position (24 hours per week) with an opportunity to expand to a full-time position.

Year 1 Responsibilities: Outlined below are the primary responsibilities and expectations for the first year of the position. 

Portfolio Development Strategy 

  • Perform research on various TapRoot acquisition strategies (e.g., buyer & seller-driven programs, land donations, and foreclosure prevention). 
  • Lead the development and implementation of the TapRoot Portfolio Development Strategy, the organization’s long-term strategy to expand TapRoot’s portfolio of homes and properties.
  • Facilitate support from the TapRoot Program Manager, TapRoot Board of Directors, and Portfolio Expansion Committee to help implement the Portfolio Development Strategy.
  • As part of strategy implementation, oversee the sale and/or transfer (from offer to closing) of a variety of property types (e.g., single-family homes, vacant land) into the community land trust in partnership with CLT homeowners, property owners donating or selling land to the trust, and partner organizations. 
  • When acquisition opportunities arise (i.e., land/home donations, development partnerships), conduct the necessary due diligence to make recommendations to pursue or pass on these opportunities.

Portfolio Development Fund 

  • Design and implement the TapRoot Portfolio Development Fund that will be used to bring homes into the TapRoot portfolio, implement the TapRoot Portfolio Development Strategy, and sustain organizational operations as they relate to portfolio expansion.
  • Identify and pursue a diverse range of funding sources (e.g., grants, philanthropic organizations, grassroots fundraising) to create and grow the TapRoot Portfolio Development Fund.
  • Serve as the lead staff person for the TapRoot Portfolio Expansion Committee.

Internal Operations 

  • Develop and implement internal policies, procedures, and systems as they relate to real estate holdings and the TapRoot portfolio of homes. 
  • Identify and develop a working relationship with a list of professional service partners that will be needed to support the implementation of TapRoot’s Portfolio Development Strategy (e.g., realtors, real estate attorneys, CLT-friendly mortgage providers and banks)

Long-Term Responsibilities (Beyond Year 1): Outlined below are the responsibilities and expectations for this position over the long term and may be adjusted based on an annual assessment of work completed in Year 1 and expansion to a full-time position. 

Relationship Building and Strategic Partners 

  • Build and sustain relationships with public and private funders, lenders, real estate industry partners, and development partners to support the Portfolio Development Strategy and TapRoot more generally. 
  • Conduct outreach and build relationships with local municipalities and elected officials with the intent of helping them develop and adopt policies favorable to community land trusts (e.g., CLT-focused tax assessment policies, foreclosure disposition policies, CLT-focused grant opportunities.)  
  • Identify and pursue key strategic partnerships with housing and real estate-focused organizations to develop collaborative projects and programs to expand the TapRoot real estate portfolio. 

Project Development for New and Rehabilitated Homes

  • Identify potential opportunities to acquire, develop, and/or rehabilitate homes to be placed into the TapRoot portfolio.
  • As they arise, develop project plans for new construction, rehab, and other opportunities to expand TapRoot’s real estate portfolio.
  • Create and manage project budgets to include structuring project financing.
  • Assist the Program Manager in completing applications for public and private funding.

Desired Skills and Experience:

  • Knowledge of Ulster County and the Hudson Valley 
  • Four or more years of successful experience in real estate, housing development, construction management, property management, or a related field.
  • Associate’s or Bachelor’s degree in real estate development, urban planning, architecture, construction management, or a related field. Equivalent field experience can substitute for a degree.
  • Knowledge of and experience with the public and/or non-profit sector with a focus on housing.
  • Passion for mission-driven affordable housing work focused on serving historically marginalized and low-moderate income communities
  • Excellent interpersonal, verbal, and written communication skills.
  • Demonstrated analytic, conceptual, planning, problem-solving, and implementation skills.
  • Ability to work autonomously and be flexible in a start-up environment.
  • Proven track record of managing multiple projects and priorities at once.
  • Creativity, flexibility, and strong organizational skills with a keen attention to detail.
  • Proficiency in use of Microsoft Office and Google Suite.

Terms of Employment

This is being offered as a part-time position (24 hours per week) with an opportunity to expand to a full-time position. Some evening meetings and work are to be expected. Salary and benefits are negotiable based on the applicant’s experience and qualifications.  The Portfolio Development Manager will be in a remote work environment for at least the first year but is expected to live in Ulster County or the Hudson Valley for monthly in-person Board meetings and outreach events. The Portfolio Development Manager will report directly to the TapRoot Board of Directors. 

Equal Opportunity Notice
TapRoot is an equal opportunity employer and is committed to promoting diversity, inclusion, and equal employment opportunities for all individuals without regard to race, color, religion, sex, national origin, age, disability, gender identity or expression, sexual orientation, marital status, or any other characteristic protected by applicable laws. We value the unique perspectives and contributions that a diverse workforce brings to our organization.

TapRoot encourages individuals from underrepresented groups, including but not limited to women, people of color, individuals with disabilities, and LGBTQ+ individuals, to apply for this position. We are dedicated to creating a workplace that respects and values differences, and we aim to foster an inclusive environment where all employees can thrive. 

Anticipated Part-Time (24 Hrs/Week) Salary Range: $40,000-$50,000, including paid-time off and limited health benefits.

Application Process

Applicants should submit an application form including a cover letter and resume. The Hiring Committee will review applications on a rolling basis. If selected to move forward in the hiring process, the committee will reach out to schedule a virtual or in-person interview.

Application Deadline: Resumes will be accepted on a rolling basis until the position is filled.

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