Cinnaire is seeking a Vice President, Community Development (VPCD) for its Detroit Priority City initiative. This search represents an opportunity to join Cinnaire in the implementation of its Priority cities targeted strategy in Detroit, Michigan. The VPCD develops, establishes, and maintains relationships with local stakeholders, including not limited to nonprofit leaders, public officials, developers, association networks, funders, and others to identify areas where Cinnaire can help develop and advance local community development initiatives. Once Cinnaire is engaged in these efforts, the VPCD is responsible for ensuring that Cinnaire delivers the maximum positive impact in the communities we serve.
Cinnaire has an unwavering belief that all people deserve the opportunities provided by living in healthy communities. That is the “Why” that guides all of Cinnaire’s activities. At Cinnaire, our human capital is our most valuable asset. We are committed to fostering and preserving a culture of diversity, inclusion, and fairness. We strive to provide an environment that empowers the authentic expression of diverse voices and celebrates a workforce that reflects the communities we serve.
Specifically, Cinnaire is a nonprofit partner based in Lansing, MI that supports community stabilization and economic development by developing and nurturing partnerships that can change lives and transform communities in the Great Lakes and Mid-Atlantic regions. Founded in Michigan in 1993, Cinnaire launched a tax credit fund to support much needed affordable housing in Detroit and surrounding areas. In 2002, Cinnaire created Cinnaire Lending, a Community Development Financial Institution (CDFI) to address the significant needs of its partners that struggled to find flexible capital to get housing projects off the ground. Twenty-five years later, Cinnaire has expanded to 115 team members with seven offices and programs in nine states, partnering with community organizations to support creation/retention of 81,000 jobs, 653 affordable housing projects, while improving the lives of 97,000 low- and moderate-income Individuals.
For more information about Cinnaire, please visit www.cinnaire.com.
Cinnaire does its work through four divisions:
- Cinnaire’s Equity Group manages its Low Income Housing Tax Credit (LIHTC) platform, as well as other innovative capital solutions.
- Cinnaire Lending provides debt financing for affordable housing (LIHTC) and other community development projects including the management of the New Markets Tax Credit program.
- Cinnaire Solutions provides consulting support to a broad range of community development projects and can serve as a full-service financial partner or as a master developer for innovative community development projects.
- Cinnaire Title offers title insurance services and full escrow services throughout the Cinnaire footprint.
Through an extensive strategic planning process, Cinnaire has identified three geographic areas as its Priority Cities — Detroit, Michigan; Wilmington, Delaware; and La Crosse, Wisconsin. Cinnaire expects to initially focus on these three cities and then replicate its community development lending initiatives to other parts of its footprint in future years.
Detroit Priority City Initiative:
We are deepening our historic commitment to the City of Detroit. In creating thousands of affordable housing units and jobs, intentionally focusing on attracting needed talent and rewarding team effort, we have built tremendous community development expertise. Our Priority City Strategy allows us to more closely engage at the community level to share that expertise and actively respond to community need. The outcome of this work will primarily be shown in the preservation of affordable housing, wealth building through the creation of attainable homeownership, building the capacity of community development and cultivating the future of Detroit community development through career path exploration with Detroit high school students.
Our work is informed by a commitment to equitable community development that recognizes the negative impact and historic roots of anti-Black racism, disparate access to resources, and marginalization of many Detroit neighborhoods. We believe that residents are best positioned to voice the needs of their community. We listen and apply our expertise and resources to advance the communities’ plans. Our key initiatives include, but are not limited to:
- Place-based neighborhood work in the Woodbridge and McDougall-Hunt Neighborhoods.
- Women Developer Initiative with a cohort of 5 emerging Black women developers.
- Cinnaire Solution co-development opportunities with various community partners.
- NextGenNow high school student initiative.
- City of Detroit Preservation Partnership Team.
- Power of a Permanent Address Lease to Purchase Homeownership Initiative.
Essential Duties and Responsibilities:
- Oversees timely and efficient progress on all Detroit Priority City programs and works closely with Cinnaire’s external development partners to support successful completion.
- Provides leadership, coordination, guidance and support to members of the various functional areas within Cinnaire’s Community Development division.
- Originates lending opportunities in collaboration with Community Development Loan Officer.
- Assists in the cultivation of relationships with foundations and identification of opportunities for grant funding through close collaboration with Cinnaire’s SVP Corporate & Foundation Development.
- Assists with production of project packages for investors, lenders and foundations.
- Represents Cinnaire as a member of Detroit community development organizations, and on speaking engagements, public hearings, and other forums within the community development industry.
- Advocates on policy matters related to Cinnaire’s mission.
- Embraces the values of diversity, equity, and inclusion, ensuring they are reflected in the fulfilment of the duties and responsibilities of the position.
Qualifications and Skills:
- Minimum 8 years of experience in the real estate development/finance or community development field.
- Proven ability to establish and maintain relationships with entities such as City of Detroit, Mayor’s Office, City Council, other public offices, and community development organizations in the Detroit market.
- Solid understanding of the funding landscape in Detroit relative to community development projects.
- Bachelor’s degree or equivalent experience required; Master’s degree preferred.
- Knowledge of real estate development best practices related to residential and mixed-use projects, innovative neighborhood planning, urban design, and community revitalization techniques.
- Solid understanding of local and regional real estate market dynamics.
- Knowledge of local funders.
- Experience or working knowledge of financing, grants and resources for affordable housing and neighborhood revitalization such as LIHTC, NMTC, CDBG, HOME, FHLB, historic tax credits, energy tax credits.
- Resource Optimization: Applies knowledge of internal structures and existing talent to accomplish a goal.
- Diversity Awareness: Identifies the benefits and advantages of harnessing the collective insights from various individuals in the organization.
- Perseverance: Accepts uncertainty by remaining focused and engaged on assignments; looks for plausible solutions to difficult problems.
- Intellectual Agility: Flexes and adapts thinking skills to meet the needs of different situations and circumstances; doesn’t limit problem solving to one approach or methodology.
Reporting Relationship: Reports to Executive Vice President, Community Development
Supervisory Relationship: Detroit Program Manager
- Ability to work on a computer for extended periods of time.
Travel Required: 20% regional travel
Compensation: This position carries a competitive salary with growth potential, as well as a comprehensive benefits package.Apply