CHANGES TO 2018 MARKET STUDY GUIDELINES M I S S O S O U R I H H - - PowerPoint PPT Presentation

CHANGES TO 2018 MARKET STUDY GUIDELINES

M I S S O S O U R I H H O U S I S I N G D D E V E L O P M E N T C C O M M I S S I S S I O N D E P A R A R T M E N T O F O F R E N TA L P P R O D O D U C T I O N J A N U A R Y 1 8 , 1 8 , 2 0 2 0 1 8

Presented b by Mark E

• E. B

Boettche her, M MAI, C I, CCIM IM

MHDC Mark rket S Stud udy A Ana nalyst

PLEASE BE CERTAIN THAT THE MARKET STUDY YOU PROVIDE INCLUDES THE FOLLOWING ITEMS

 MHDC n no longer a accepts m market s studies f from t those who

• are n

not

• t g

generally c certified a as s appraise sers.  The li list o

• f a

appraisers approved b by y MHDC t to d develo lop market studies for 2 2018 a applications i is on our w website.

2

CRIME RATES

Crime me data m must s show violent ent crime r e rates f for the e subjec ect neighbor

• rhood
• od a

as defined and p provided ed b by Area eaVibes es.com. YOUR M MARKET S STUDY SH SHOULD NOT QUOT OTE NEIGHBORHOODSCOUT.COM The prior service greatly increased their subscription rate, so we changed to AreaVibes which is, as we speak, is free of charge. I compared the rates for a sample area from the old service to that provided by AreaVibes and though the measurement is different, the trend was the same.

3

PICTURE CAPTIONS

The he guideli lines n now p pro roscri ribe the c content of picture re cap aptio ions.

4

POVERTY RATES

The he market s study dy s should d provide de househol hold pove verty ra rates, n , not family ly p pove verty.

5

SCHOOL DISTRICT RATINGS

As s befor fore, t the s school

• l d

district r ratings m must b be i included fo for b both h famil ily A AND senio ior p proposal als.

6

SORT TABLE DATA

As s befor fore, s sort d data i in tables ( (such a h as number e employed per in industry o

• r media

ian/average w wag ages) b by a a pertin inent var ariab able so the d dat ata is a is eas asie ier to in interpret.

7

MIGRATION DATA

An n exam ample of the r required format at f for m mig igratio ion d dat ata is a is provide ded in in the M Mar arket St Study G Guid idelines.

8

CENSUS DATA

As s before re, c census tra ract d data i is NOT re required for a r all o l of the t tra racts in th the P PMA, j just th t the o

• nes th

that a t abut th t the s subject’s tr tract, t, and th that t is is only for p proposals in in the St

• St. L

Louis is o

• r Kan

ansas C Cit ity r regions (as as defin ined in in the g guid idelin ines).

9

SECTION 8 DATA LINK

An n exam ample o

• f where t

to fin ind Se Sectio ion 8 8 in information is is provide ded d in in the M Mar arket St Study Guid idelines.

10

ONE-MILE RADIUS RULE

The he one ne-mile radius rule ha has been s simplified t to

• whe

here the he report shou hould d describe i if f the he p prop

• posal i

is withi hin a on

• ne-mi

mile ra radius of any S State LI LIHTC, F Federal LI l LIHTC, , HOME, o

• r

r Fund Balance financed ( (all c considered t to be MHDC f funded) deve velo lopments deve velo loped within t the p pre revi vious t two fiscal y l year r funding cy cycl cles. The occu ccupancy cy o

• f all of t
• f the

hese properties should b be p prov

• vided.

.

11

COMPS REQUIRED

Both h the he marke ket rent an anal alysis an and t the afford rdable rent an anal alysis is must st b be b base sed on comps. Bo Both a analyse ses now w require t the u use se

• f ad

adju justment g grid ids an and r reas asons for an any ad adju justments. As s before, the he report m must con

• ntain a

a profi

• file for
• r a

all c com

• mps.

12

REAL ESTATE RENT

The he rent c comps s should NOT b be adj djusted f for proposed s special needs o

• r

r servi vice e enri richment. . Any ny con

• ntributory v

value of t

• f the

hese items s shou hould be discussed i in a separ arat ate p par aragraph b below the ad adju justment g grid id, showin ing t the ‘real estate’ rent ( (fr from t the he g grid) and the he ‘ ‘enhanced’ r rent, if f any.

13

ALTERNATIVE HOUSING ANALYSIS

The he alterna native h housing ng ( (sing ngle-fam amil ily) analysis is is n no l longer re require red.

14

SHOW THE MATH!

As b before, an any n numerical conclusio ions in in an any p par art o

• f t

the s study are t to b

• be supported by t

the he for

• rmula or
• r m

math h used to c

• create tha

hat conclusio ion.

15

QUESTIONS?

Presented b by Mark E

• E. B

Boettche her, M MAI, C I, CCIM IM

MHDC Mark rket S Stud udy A Ana nalyst 816-759 759-66 6664 64 mboettc ttcher@mhdc.com