This Market Study must include the following definitions and data: 1. Target Population: Define the target population with relevant demographic profile data. (Low-tomoderate income households, earning a maximum of 80% of AMI.) 2. Market Area: Define and delineate Primary and Secondary Market Areas (PMAs/ SMAs) based on geographic, economic and demographic criteria. 3. Define Market Boundaries: Include mapping and relevant area data. 4. Affordability Determination: Establish verified proposed affordable sale price for target income group. Provide comparisons of market sale pricing and local income distribution. 5. Need Assessment: Demonstrate the projects need within the market area. Include analysts of current and projected population growth, employment base, comparable housing options, occupancy rates, wait lists and future construction that may impact demand. 6. Absorption and Capture: Estimate the projects absorption period and capture rate. 7. Feasibility: Provide an objective, data-driven analysis supporting the project’s financial and market viability. 8. Data Sources: Identify and cite all data sources, projections, analytical models, and third-party resources utilized. 9. Certification Statement: Include certifications and statements of independence verifying the study’s integrity and accuracy.
