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Request for Qualifications for Appraisers and Market Analysts
The Washington State Housing Finance Commission requires market studies with all Tax Credit applications. Proposed multifamily projects may range in size from 10 to 250 units, and may be either new construction or acquisition/rehab. All proposed projects are income and rent-restricted, based on Federal (IRS) and State Requirements.
The Commission maintains a roster of contractors eligible to perform a market analysis following generally accepted practices, addressing both market rate and rent-restricted demand. These reports will be commissioned by the applicants to the tax credit program, at the applicant’s expense.
The analysis will follow published Market Study Guidelines (PDF) including (but not limited to) an analysis of overall market conditions, as well as present and projected supply and demand in the project’s immediate market, including demand for units with special needs set-asides. In addition, the analysis will include a discussion of attainable rents, and compare them to competing market rate projects. Finally, the study must conclude the proposed project’s marketability.
Qualified providers have been included on a published list. Applicants can only engage providers who are on the list. Ability to perform services in the overall statewide market in a timely manner is essential. Please refer to the checklist below for required submission items. An initial list of providers has been published and the Commission will update the published list periodically.
ADDRESS SUBMISSIONS TO:
Washington State Housing Finance Commission
1000 2nd Avenue, Suite 2700, Seattle, WA 98104-1045
Attention: Bob Peterson, Manager, MHCF
Phone: 800.767.HOME (toll free in WA) 206.287.4454
Please include all items on the checklist:
Contractor name, address, and primary contact
Description of services provided
Statement of experience Include specifics for all project experience, including name of project, location, number of units, type of units (family, elderly, other special needs), financing subsidies in project (rental assistance, tax credits, other public agency financing), and date of completion.
Copy of license as a “General” appraiser in the State of Washington (if applicable)
List of counties where you would accept assignments
Approximate fee range you would charge to complete work If your fee will change based on location or size of project, this should be clearly indicated in the explanation.
Time Requirement How long will it take you to complete work? Note the application deadline for Competitive Tax Credit will be mid-January.
Names and experience of individuals who will be conducting
actual work on projects
List of References with addresses and telephone numbers