• Research “best” practices for housing resiliency to include policy changes, financial mechanisms and sustainable building practices. Examine current approaches to quantifying risk with the purpose of identifying comparable assessment metrics focused on, for example, hydrological and fire risks. Summarize such information in the report. • Conduct a thorough assessment of the vulnerability of Virginia Housings existing multifamily portfolio4 to natural disasters and climate change, developing a detailed vulnerability analysis identifying environmental risks impacting multifamily developments that includes, climate change effects such as sea level rise, natural disasters including storm surge, coastal flooding, and flash flooding in Southwest Virginia, and demographic shifts (aka “climate migration”) to identify and prioritize risks to multifamily housing in Virginia. The consultant should also identify any other similar material risks to the portfolio, such as Geological formations (e.g., Karst zones), fire, and wind. Identify any modeling techniques of catastrophic risk to be used by Offeror. The report should identify any risks which are beyond the scope of the report. • Engage Stakeholder’s to include both internal and external participants. External participants should include local government, non-profit and for-profit developers and others to gather diverse input into the process, which can provide information on additional risks and plans of mitigation in the area. • Resiliency Strategies – develop actionable strategies that enhance housing resilience including sustainable building practices – including a review of the resiliency features in both Virginia Housing’s minimum design and construction requirements (MDCRs) and Qualified Allocation Plan5 , disaster resistant construction areas, retrofitting and financing options, and affordable housing preservation and development. Examine generally the relationship between resiliency measures and costs to property owners, including constructions costs, retrofitting costs, and the resulting impact on operating expenses such as cost of insurance, recognizing that a full cost assessment is outside the scope of this review.
