Tierra Contenta Corporation Seeking Executive Director
MISSION OF ORGANIZATION
The Tierra Contenta Corporation is an independent community development 501(c)3 nonprofit corporation founded in 1994 for the sole purpose of owning, planning, and managing a major portion of the Tierra Contenta planned development to create affordable rental and homeownership opportunities for Santa Fe area residents.
ABOUT TIERRA CONTENTA CORPORATION
Tierra Contenta was created to leverage economies of scale to create large amounts of affordable housing through master-planned development. In the past 25 years, more than 2,500 homes and apartments have been built in the first two phases of the Tierra Contenta community, located in Santa Fe, NM. Over 40% of those homes were affordable to low and moderate-income Santa Feans.
Tierra Contenta Corporation (TCC) is responsible for implementing a master plan that was approved by the City of Santa Fe in 1994. The master plan for Phase 3 was recently updated and is awaiting final approval by the Santa Fe City Council, anticipated in late October, 2021. When approved, TCC will embark on developing the final phase, which will include an estimated 1,200 homes and apartments, an elementary school, neighborhood parks, and land for civic and commercial uses.
The other major work involves organizational development. For the last 10 years TCC has been embedded within a sister organization, The Housing Trust, and the hiring of a Director is the most important piece of reestablishing the organization as a stand-alone and self-sufficient community entity. As part of this process the organization will have sufficient working capital for overhead and operations.
KEY TASKS FOR EXECUTIVE DIRECTOR
While TCC may decide in the future to take on other roles in supporting the Tierra Contenta community, the Executive Director (ED) will be responsible for managing a core set of crucial tasks over the next 10 years, per the amended master plan, as follows:
2021: Finalize details of the financing package sufficient to cover a 10-year infrastructure buildout. Work with board to clarify organizational mission and operating structures. Identify ways to better support the Phase 1 and 2 neighborhoods though addressing more urgent ongoing maintenance issues.
2022: Obtain bids for spine infrastructure work, award contracts, contract with a construction supervisor, and oversee a successful installation. Prepare a plan for marketing and selling the land, relying on financial projections which have already been prepared and will have to be continually updated to assure that target amounts of land sales revenues are achieved to pay off the land loan.
Pre-sales of land begin. The ED will employ surveyors and engineers as needed to prepare boundary maps and legal descriptions of land to be sold, and one or more sales agents and attorneys to market tracts of land and carry out the sales transactions. The ED will assure that each sale is subject to the developer’s binding agreement to provide a specific number of affordable homes that are subject to specific price and income limits.
2023-2031: Infrastructure work should be completed by the end of 2023, according to the development schedule. In 2023 and subsequent years, keeping pace with the land sales schedule in order to assure that annual land sales revenue targets are met.
All years: The ED will assure the proper operation of architectural reviews, financial accounting, tracking affordable homes/apartments built, imposing ‘affordability liens’ on affordable unit sales, releasing liens when they are repaid from future home sales, handling subordinations, and other tasks related to the lien portfolio.
Additional roles: TCC expects to do strategic planning in 2022 to determine additional roles, tasks, and resources that will assure that Tierra Contenta continues to be a livable, safe, healthy, resource-efficient, diverse, and affordable community.
Executive Director (full-time, staff position)
Administrative Assistant (half-time, staff position)
Attorney under contract
Construction supervisor under contract
Engineer(s) and surveyor(s) under contract
Land sales agent(s) under contract
Bookkeeper/Accountant and payroll/benefits management firm under contract
- At least five years of experience with affordable housing programs.
- Experience with mission-based nonprofit organizations and working with boards of directors.
- Experience with construction project management or housing development activities.
- Knowledge of public and private financing as well as local, state and national subsidy programs.
- Experience managing relationships with nonprofit and market rate housing developers.
- Experience with written agreement, negotiating affordable housing agreements a plus.
- Broad experience managing multiple stakeholders and public/private partnerships
- An understanding off affordable housing subsidy mechanisms and loan pools.
- Able to review statistical data such as population trends and create growth strategies.
- Experience leading bilingual community engagement processes
- Passion for placemaking and creating a sense of community for planned communities.
We will pay a highly competitive, market-rate salary commensurate with experience. We offer a full suite of benefits including health and dental insurance, retirement plan, and paid vacation.
HOW TO APPLY:
Please send resume and cover letter by November 1st, 2021 to: firstname.lastname@example.org