Real Estate Finance Internship

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Job description

Philadelphia Industrial Development Corporation (PIDC) is Philadelphia's public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. You can learn more about PIDC at .

POSITION BACKGROUND:

The Real Estate Financial Services team is responsible for business development, credit and regulatory analysis, structuring, negotiation, documentation, and initial compliance associated with procuring and delivering a variety of creative and flexible financing products to real estate development projects throughout the City of Philadelphia. Financing products include New Markets Tax Credits, EB5 Immigrant Investor Financing, HUD 108, Community Development Block Grant (CDBG), EPA, and other public and private resources to non- and for-profit developers and businesses. Over the past three years, PIDC's Real Estate Financial Services team has invested over $200M in more than 50 transactions.

The New Markets Tax Credits (NMTC) program is a federal tax credit program designed to generate private-sector capital investments in low-income areas. Projects funded through NMTC must provide substantial benefits to low-income communities and people, such as quality job creation, health care, or critical goods and services.

POSITION RESPONSIBILITIES:

• Support completion of the funding application for the New Markets Tax Credit program through research, data analysis, proofreading, and other tasks that arise.
• Assist in entering, verifying, and analyzing client data in PIDC's Salesforce database.
• Support update of the Financial Services Process Manual.
• Assist with New Markets Tax Credit administrative tasks such as preparing Advisory Board presentations, preparing marketing brochures, and organizing data received on projects in the pipeline.
• Support transfer of client files to document management system.

MINIMUM QUALIFICATIONS:

• Applicants must be enrolled in an accredited college and/or university. No preference is given to graduate or undergraduate students.
• Applicant must be detail-oriented and highly organized.
• Applicant must have strong research and analytical skills.
• Applicant must be willing and able to take ownership of tasks.
• Applicant must work and coordinate well with multiple groups.
• Applicant must be interested in community development finance.

PIDC promotes a culture of inclusion and prohibits discrimination in any employment or promotional practices on the basis of race, color, sex (including gender identity, sexual orientation, and pregnancy), religion, national or ethnic origin, age, disability, veteran status, or any other legally protected factor.