The Consultant must hold active and valid licenses with a minimum designation as a MAI and/or SRPA. The Consultant must have recent experience in providing estimates of current fair market value of appraisals of real property with HUD restricted uses that includes Public Housing, and/or completing market study reports. If the Consultant has public Housing appraisal experience, further evaluation will be made on the following: Project-Based Section 8, HUD rent limits and tiers, Low Income Housing Tax Credit and any other maximum rent/income valuation appraisal experience. The Consultant and all employees shall adhere to appraisal practices as required to conform to the Uniform Standards of Professional Appraisal Practice (USPAP). The Consultant will provide review services to assure accuracy, completeness, and adequacy of documentation of appraisal reports and market studies. The Consultant may also be required to provide appraisal-related and/or market study consulting services on an “as needed” basis. Any appraisals or market studies completed for Low Income Housing Tax Credit projects must meet the requirements of the Washington State Housing Finance Commission.
