Tax Credit Market Analyst Review Services

The Vendor is required to provide for the review of market studies/appraisals submitted as part of low-income housing tax credit applications.
- Notify the independent, third-party professional who completed the market study by telephone and, simultaneously, in writing electronically (e-mail) about significant missing or unclear components of the market study.
- Failure of the independent, third-party professional who completed the market study to provide a sufficient response within five business days about significant missing or unclear components of a market study shall result in an application being declared ineligible.
- Fast-tracked means the Review Period shall be limited to 45 calendar days of receipt of the market study. Assignment of the reviews shall be subject to adjustment at the Agency's discretion based on circumstances including but not limited to: proximity of project locations, multiple submissions by the same applicant, and other factors.
- The market studies (together with the housing narratives, rent charts, and amenities charts) shall be forwarded to the Contractor(s) three (3) business days after the application deadline.
- Final market study reviews shall be submitted to the Assistant Director and/or Director of Tax Credits as soon as they are completed, but no later than 45 (fast-track) or 60 (traditional) calendar days from receipt of the market studies.
- The Agency may occasionally request reviews of market studies/appraisals prepared for projects financed with tax-exempt bonds and 4% tax credits for reasonableness.