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CI1CiOF SAN BI!RNARDI(:P - RI!QUFOT FOR COUNCIL ~
From: Kenneth J. Hendereon, Director
Subject: SELECTION OF CONSULTANT TO UNDERTAKE
HOUSING MARKET STUDY
Oept: Community Development
Oltl: February 24, 1987
Synopsis of Previous Council action:
On November 7, 1986, the Ways and Means Committee directed Itaff to develop
a "Request for Propoea1s" (UP) for, a Housing Market Study which would allow
for effective development of the City's Comprehensive Housing Policy.
On November 21, 1986, the Ways and Means Committee directed staff to solicit
for eaid UP.
On December 8, 1987, the Mayor and Common Council received and filed the
Waye and Meane Committee minutes of November 24, 1986 Ind directed staff to
issue housing market study RPP.
Recommended motion:
ADOPT RESOLUTIOIl.
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Contact penon:
SupportIng dl" IUlChed:
Kenneth J. Henderson
Phone:
5065
Staff Report
Wlrd:
1-7
FUNDING REQUIREMENTS:
~unt: ~lO,OOO.OO
Source: (ACCT. NO.)
(ACCT. DESCRIPTION)
121-538-5-JlSO
Flnlnce:
I/r_
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Council Notes:
,....,...
AlI8ndl Item No. ~,
CI'O' OF SAN BERNARDICP - REQUEf()T FOR COUNCIL AC'O)N
STAFF REPORT
on November 21, 19B6, the Ways and Means Committee requested
staff to development a "Request for Proposals" (RFP) for a
Housing Market Study. It was the intent of the Committee
that the City hire a consultant to undertake a study that
would provide information to form the necessary data base for
development of the City of San Bernardino's comprehensive
housing policy.
On December B, 19B6, the Mayor and Common Council received
and filed the Ways and Means Committee minutes and authorized
staff to issue said RFP.
Four (4) proposals were submitted in response to the
Community Development Department's RFP for a Housing Market
Study. The RFP is attached to the Contract as Exhibit "A".
Proposals were submitted by the due date from the following
firms:
1. Tom Dobson and Associates
2. Empire Economics
3. Insights
4. Jaykim Engineers, Inc.
A rating form was developed to
based on criteria specified in
attached to the staff report.
rating form for each proposal.
rate and rank
the RFP. The
Each reviewer
the proposals,
rating form is
filled out a
Summarv of Ratinas
The proposals received the following ratings from the
reviewers:
ProDosal/Rankina
Totals
Dobson & Associates
Empire Economics
Insights
Jaykim Engineers, Inc.
146
178
169
64
Conclusions
EmDire Economics received the highest total ranking and was
judged to be the strongest proposal overall. This proposal
received high scores for methodology and for relevant
experience from all reviewers. Some minor modifications
would strengthen the proposal further. Specificall~, Empire
Economics should be asked to investigate the housing projects
currently in the planning process for their assessment of
current demand and supply. Addition of a builder survey and
assessment of financing ability would also improve the study.
2/24/B7
75.0214
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Insiahts proposal was considered acceptable with considerable
modifications. The proposal indicated that there was some
confusion regarding the proposed assessment of absorption
rates for previous subdivision development since no timeframe
was specified. While Insights indicated previous experience
in feasibility assessments of housing developments for
private developers, the firm did not have significant
experience in working directly with local governments. They
also requested an expedited payment schedule. In spite of
these weaknesses, the review panel felt that Insights did
have the ability to perform the work specified in the RFP if
the concerns indicated could be resolved.
Dobson and Associates proposal was judged marginal. The
proposal contained frequent repetition of the RFP language
without specifying in sufficient detail how steps in the
methodology would be undertaken. Key staff had backgrounds
which stressed environmental planning rather than housing
development.
Jaykim Enaineers was judged unacceptable and unresponsive.
The methodology proposed was in outline form and indicated
the firm did not understand the requirements. The background
of the company's representatives had primarily engineering
credentials and limited experience in housing development and
market assessment.
Rec,ommendat ion
staff recommends that the Mayor and Common Council adopt the
attached resolution authorizing the Mayor to execute an
agreement with Empire Economics to perform a housing market
study, providing that minor clarification in the proposed
methodology is included as indicated above (Empire has agreed
to these stipulations). The fee paid to Empire Economics to
perform t,he entire Housing Marketing Study is estimated to be
$9,500 and it will not exceed $10,000.
K~'~.~
Director of Community Development
KJH/MLO/lab
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2/24/87
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HOUSING MARKET STUDY
PROPOSAL RATING PORM
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Points
Awarded
1. Consultant Methodoloav (30 possible points)
A. Comprehensiveness of MethodologYI
8-10 . Pully comprehensive. Addresses both
demand and supply characteristics for
all nine (9) categories of housing.
4-7 . Mostly comprehensive, but some
aspects missing.
2-3 . Marginal.
0-1 . Unacceptable.
B. Use of Secondary Source Materiall
4-5 . GOod understanding of available
secondary source material.
Appropriate generation of primary
source information.
2-3 . Moderate understanding of available
secondary source material, with
additional information generated
from primary sources.
0-2 . Over-reliance on primary data
generation.
C. Methodology for Determining Availability
of Private Sector Pinancingl
4-5 . Adequately addressed.
2-3 . Addressed but questions remain.
0-1 . Not addressed, or inadequately
addressed.
D. Methodology for Estimating Absorption Rates:
4-5 . Adequately addressed.
2-3 . Addressed, but questions remain.
0-1 . Not addressed, or inadequately
addressed.
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E. Based on Methodology, Likelihood that
Contractor will be able to Recommend Appropriate
Housing Development Strategies for the Citya
4-5 · Very likely.
2-3 · Somewhat likely.
0-1 . Unlikely.
2. Timina Considerations (5 possible points)
4-5 . Performance likely within three (3)
month performance.
2-3 . Performance hopefull within three (3)
month performance.
0-1 . Performance will probably exceed three
(3) month timeframe.
3. Cost Considerations (10 possible points)
8-10 . Cost at or under $10,000 and payment
arrangements acceptable.
6-7 . Cost at or under $10,000, but
accelerated payments requested.
0-5 . Cost exceeds parameters, progress
payments requested.
4. Past Exoerience/Relevant Qualifications
(20 possible points)
15-20 . Significant relevant experience in
undertaking similar studies for local
jurisdictions and housing developers.
10-14 . Some relevant experience in conducting
similar studies.
5-9 . Limited past experience in conducting
studies of this nature.
0-4 . unacceptable past experience.
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Points
Awarded
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5. Overall ASBessmen~ of Pro9oBal and Potential
Contractor (10 possible points)
8-10 . Superior proposal. Highly qualified
contractor.
4-7 . Acceptable proposal. Qualified
Contractor.
1-3 . Proposal acceptable, but contractor
qualifications questionable, or
qualifications acceptable, but proposal
questionable.
o . Unacceptable on all counts.
TOTAL SCORE:
(OUt of 75 possible points)
JRT/lab
0076
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Points
Awarded
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1
RESOLUTION NO.
2 RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING AND
IRECTING THE EXECUTION OF AN AGREEMENT WITH EMPIRE ECONOMICS FOR
3 HOUSING MARKET STUDt.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF
BERNARDINO AS FOLLOWS:
4
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SECTION 1. The Mayor of the City of San Bernardino is hereby
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uthorized and directed to execute for and on behalf of said City
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n Agreement with Empire Economics for a Housing Market Study, a
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opy of which is attached hereto as Exhibit "1" and incorporated
erein by ~eference as though fully set forth at length.
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I HEREBY CERTIFY that the foregoing resolution was duly
adopted by the Mayor and Common Council of the City of San
Bernardino at a
meeting thereof, held on the
, 19B7, by the following vote, to
day of
wit:
Council Members
AYES:
NAYS:
ABSENT:
City Clerk
The foregoing resolution is hereby approved this day
, 19B7.
of
Mayor of the City of San Bernardino
26 Approved as to form:
: ~!!~
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AGREEMENT BETWEEN THE CITY OF SAN BERNARDINO AND
EMPIRE ECONOMICS FOR A HOUSING MARKET STUDY
THIS AGREEMENT, effective the
day of
4 ' 1987, by and between the CITY OF SAN
5 BERNARDINO, a municipal body corporate, hereinafter referred to
6 as .City", and EMPIRE ECONOMICS, a sole proprietorship owned and
7 operated by Joseph Janczyk Evans, Ph.D., hereinafter referred to
8 as "Contractor., sets forth the agreement of the parties.
9 SECTION 1. Recitals.
10 A. The City is in the process of formulating a
11 comprehensive housing policy to guide the City in its efforts to
12 promote a full mix of housing options for its present and future
13 residents. City has circulated a "Request for Proposal" seeking
14 consulting services; all responses have been evaluated. City has
15 determined that Contractor should be selected to perform such
16 services. A copy of the Request for Proposal is appended as
17 Exhibit "A", and is incorporated herein by reference.
18 B. Contractor represents that it has the expertise required
19 to conduct such a comprehensive analysis of market conditions for
20 housing in general, in accordance with the Request for Proposal,
21 and is ready, willing and able to prepare such a comprehensive
22 analysis as desired or required by the Commission. A copy of
23 Contractor's proposal dated February 5, 1987, is appended hereto
24 as Exhibit "B", and is incorporated herein by reference.
25 SECTION 2. Imolementation. The parties therefore do agree
26 as follows:
27 A. Contractor shall forthwith commence the study required
28 for the preparation of the comprehensive analysis, and present t
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1 City within three (3) months from the date of execution of this
2 agreement, a comprehensive analysis of the market conditions
3 required by the Request for Proposal, and recommendations in
4 writing for the policy to be'adopted by the City and Commission
5 as specified in the Request for Proposal. In addition,
6 Contractor agrees to meet with and provide advice to the Council
7 during a Council meeting to formulate the poI icy pursuant to the
8 recommendations of Contractor.
9 B. In addition to the items specified in the Request for
10 Proposal, Contractor agrees to investigate the housing projects
11 currently in the planning process and consider those developments
12 in the assessment of current demand and supply, Contractor shall
13 also include a builder survey within its overall study, and shall
14 consider and assess financing ability factors to make the study
15 more meaningful.
16 C. City agrees to pay, and Contractor agrees to accept as
17 full payment therefor, a sum not less than $9,500, nor more than
18 $10,000, based on the amount of time necessarily expended.
19 D. All services shall be provided in acco,rdance with the
20 proposal dated February 5, 19B7, appended hereto as Exhibit "B".
21 SECTION 3. Independent Contractor. At all times during the
22 term of this agreement, Contractor shall be an independent
23 contractor and shall not be considered an officer, agent, servant
24 or employee of the City. City shall have the right to control
25 Contractor only insofar as the results of Contractor's services
26 rendered pursuant to this agreement 1 however, City shall not have
27 the right to control the means by which Contractor accomplished
28 services rendered pursuant to this agreement.
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1 SECTION 4. Non-Assianable. This contract is entered into
2 with Contractor due to Contractor's particular qualifications and
3 expertise, and Contractor may not assign, either voluntarily or
4 involuntarily, this agreement or any rights, benefits or
5 obligations hereunder, to any other party without first obtaining
6 the approval of the City in writing.
7 SECTION 5. Eaual Emolovment Oooortunitv. During the
8 performance of this agreement, the Contractor agrees as follows:
9 The Contractor will not discriminate against any employee or
10 applicant for employment because of racer color, religion, sex or
11 national origin. The Contractor will take affirmative action to
12 ensure that applicants are employedr and that employees are
13 treated during employment, without regard to their race, colorr
14 religion, sex or national origin. Such action shall include, but
15 not be limited to, the following: 'employment, upgrading,
16 demotionr transfer, recruitment, recruitment advertising, layoff
17 or termination, rates of payor other forms of compensation, and
18 selection for training, including apprenticeship- The Contractor
19 agrees to post in conspicuous places, available to employees and
20 applicants for employment, notices setting forth the provisions
21 of this non-discrimination clause. Contractor will, in all
22 solicitations or advertisements for employees placed by or on
23 behalf of Contractor, state that all qualified applicants will
24 receive consideration for employment without regard to race,
25 color religion, sex or national origin.
26 SECTION 8. Notices. Notices to the parties ,unless
27 otherwise requested in writing, shall be sent as follows:
28 Director of Community Development Empire Economics
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1 city of San Bernardino
300 North 80R Street
2 San Bernardino, CA 9241B
Suite 200
35505 Camino Capistrano
Capistrano Bch, CA 92624
3
SECTION 9. ~. This agreement shall continue in effect
4
until terminated by either party. This agreement may be
5
terminated at any time by either party upon thirty (30) days
6
written notice to the other party.
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SECTION 10. The Request for Proposal (Exhibit RAR) and the
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Contractor's Proposal (Exhibit RBR), together with the additional
9
items specified in Section 4B, set forth the scope of work to be
10
provided hereunder.
The provisions thereof are hereby
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specifically incorporated into this agreement.
IN WITNESS WHEREOFr the parties hereto have executed this
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agreement as of the date first above written.
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CITY OF SAN BERNARDINO
ATTEST:
By
Mayor
City Clerk
EMPIRE ECONOMICS
Approved as to form:
~~~
By
Joseph Janszyk Evans, Ph.D.
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REQUEST FOR PROPOSAL
for
.HOUSING MARKET STUDY.
A. PurDose
The City of San Bernardino is seeking consulting services to
undertake a study of the potential demand for certain types of
housing within the City limits. The study should also include
recommended strategies for promoting future development of certain
types of housing.
B. Backqround
The City of San Bernardino is in the process of formulating a
comprehensive housing policy to guide the City in its efforts to
promote a full mix of housing options for its present and future
residents. In contrast to other Southern California cities,
particularly coastal cities, San Bernardino has a considerable
supply of housing for low and moderate income families. A number of
programs are currently in place to support a further increase in
this type of housing, including infill and mortgage revenue bond
programs to support new construction as well as rehabilitation
programs to preserve the condition and affordability of the present
housing stock. The City plans to continue to operate these programs
and provide appropriate financial support.
As a supplement to these programs and in order to ensure the full
range of housing options, as described above, the City is interested
in encouraging the development of housing affordable to those at
higher income levels. A quantity of this type of housing presently
exists in the City. However, without additional expansion to keep
pace with the corresponding increase of low and moderate income
housing, the City may lose the balance which, in the past, has
provided for economic integration in San Bernardino.
In order to guide the development of the comprehensive housing
policy described above, the City needs to know the demand and supply
characteristics for each of the housing market segments, as
described further below.
C. EXDectations of the Contract
The consultant will estimate the demand and supply characteristics
for various types of housing in San Bernardino.
Market segments to be analyzed include, 1) custom single-family
detached homes in the $200,000(+) range, 2) upscale subdivisions or
.move-up. homes in the $125,000 to $200,000 range, 3) townhomes, or
two story attached homes, in the $90,000 to $125,000 range, patio
homes in the $65,000 to $85,000 range, townhomes in the $90,000 to
$125,000 range, condominiums in the $65,000 to $90,000 range,
apartments with rents in the $350.00 to $600.00 range, low and
moderate income ownership housing in the $30,000 to $70,000 range,
and low and moderate income rental housing in the $250.00 to $400.00
EXHIBIT "A"
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o range. It is expected tSitthe study WiQ examine the supply and 0
absorption rates for existing and recently constructed homes in
these categories in San Bernardino as well as in other comparable
Inland Empire cities. It is further expected that, based on the
study's findings, the consultant will recommend techniques and/or
incentives that the City might use to attract and encourage
developers interested in building upscale housing in San Bernardino,
specifically for custom homes, move-up homes and townhomes.
Accordingly, specific location, size, design and amenity
characteristics required to make such housing attractive and
marketable should be included as part of the consultant's
recommendations.
D. ProDosal Criteria
Consultants responding to this "RPP" should provide evidence of
their qualifications as evidenced by previous studies of a similar
nature conducted for other cities or counties or for private
developers. Names and phone numbers of references should be
provided. Specific knowledge of the City of San Bernardino or the
other cities and counties in the Inland Empire would be helpful but
is not required.
Consultants should explain in their proposals the methodology they
would employ if selected to perform this study. Such methodology
should specify what primary and/or secondary data sources the
consultant intends to use, how the availability of private sector
financing will be assessed, how absorption rates will be estimated,
and any other key aspects of the methodology the consultant intends
to employ.
The City estimates that this study can be completed in three (3)
months time following contract approval. Ten thousand dollars
($10,000) has been reserved for conducting this study. Payment will
be made following completion of the study and submission of an
acceptable final report. The consultant should state the estimated
time and cost of conducting this study and explain any deviations
from the City's estimates as stated above.
E. Deadline for Submission
To be considered, proposals must be complete, signed by a person
with responsibility to commit the necessary resources to undertake
the study if selected, and be received by the Community Development
Department of the City of San Bernardino, City Ball Building, ,300
North "D" Street, San Bernardino, California, 92418, attention
Maurice Oliva, no later than 4:30 p.m. on hid... ..bro." 13
19.12.
,
Any questions regarding this "RPP" should be directed to Mr. Oliva
at 714/383-5065. Collect calls will not be accepted, and proposal
costs will not be reimbursed.
KJBI JRT/ lb
file: rfphousmarketst
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"w= '=' LS U \Y Ii ~!
lffiJ FEB I 2 1987
..
EMPIRE ECONOMICS
Economic-Real Estate Consultant.
, Joseph Janczyk Evans, Ph.D.
35505 Camino Capistrano, Suite 200
Capistrano Beach, California 92624
26300 La Alameda, Suite 310
Mission viejo, California 92691
(714) 661-7012
February 5, 1987
Mr. Kenneth J. Henderson, Director
community Development Department
city of San Bernardino, city Hall
300 N. "0" Street, Fifth Floor
San Bernardino, CA 92418
Re: Housing Market Study:
Comprehensive Housing POlicy for San Bernardino city
Dear Ken,
Empire Economics is pleased to respond to your RFP for the- Housing
Market Study for San Bernardino city. Accordingly, the purpose of this
Proposal by Empire Economics is to provide you with a description of the
consulting services that would be required to formulate a comprehensive
Housing POlicy for San Bernardino city.
Backaround
Empire Economics has conducted various studies for San Bernardino city
that could be utilized as a basis for formulating a Comprehensive
Housing Policy for the city. Specifically, Empire Economics has
recently conducted Market Demand Studies for the city's Single- and
Multi- Family Bond Programs as well as a Housing Needs Study.
According1y~ the information, and results of these studies, along with
some supplemental studies for market segments not covered by these
studies, would be utilized in formulating a Comprehensive Housing Policy
for San Bernardino City.
Pumase
Empire Economics will conduct a study that will assist the Community
Development Department with formulating a comprehensive housing policy
to quide the city in its efforts to promote a full mix of housing
options for its present and future residents. Empire Economics will
address the full mix of housing options, including higher-priced housing
as well.
Descrintion gt Consultina Services
Empire Economic. would formulate a Comprehensive Housing POlicy for San
Bernardino City based upon a consideration of all of the relevant market
demand and supply conditions and the resulting absorption rates for
EXHIBIT "B"
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housing in each of the various seCJlllents of the market. specifically r
the primary components of the study are as follows:
Market Conditions
Typical ----------------
Market SeCJlllents prices/Rents Demand Supply Programs
----------------- --------------- ------- ------- ----------------
CUstom Homes $200,000 $250,000 Moderate Minimal
Move-Up Homes $125,000 $200,000 Moderate Minimal
Detached Homes $80,000 $125,000 High High single-family
Bonds
Patio Homes $65,000 $85,000 High High single-family
Bonds
TOwnhomes $90,000 $125,000 Moderate Minimal
Condominiums $65,000 $90,000 Moderate High Market Saturated
Apartments $350 $600 strong Very High MUlti-family
Bonds
Low/Mod Income $30,000 $70,000 strong Moderate Rehab Program
ownership
Low/Mod Income $250 $400 strong Moderate Rehab Program
Rentals Multi-Bond
Program
Please refer to Chart A for the methodology underlying the market study.
As can be seen from the above matrix, San Bernardino City already has
programs in place that encourage the development of housing in various
market seCJlllentsr primarily through its single- and multi- family bond
programs. Additionally, there are some other programs that provide
households with funds that can be utilized for the rehabilitation and
infill of housing units.
However, there appears to be a need for further analysis of which
addresses the demand in the market seCJlllents for higher-priced housing
unit.s, both det.ached and attached. specificallYr much of t.he potential
demand for this type of housing by households that. are employed in San
Bernardino City goes to other cities/communit.ies. This may be
at.tribut.ed t.o the reluct.ance that. various developers have in proceeding
with such projects in San Bernardino City because they are uncertain
about. the demand that their projects would realize. Consequent.ly, the
purpose of this supplemental st.udy would be to establish the st.ren9th of
the market. condit.ions for cust.om, move-up and luxury townhome projects.
Additionally, the feat.ures and amenit.ies of such housing would also be
considered. The actual development. of such a protect would benefit. the
cit.y of San Bernardino, since it would "break t.he cen on such project.s,
and thereby stimulate further project.s in the future. The market
pot.ential of these products for San Bernardino cit.y would be estimated
t.hrough a comprehensive analysis of all the economic-social fact.ors that
influence their demand including the following:
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* Identification of the upscale housing projects and custom
homes in the East Valley since 1980.
* Sales rates of these projects, both new and existing
* Prices and product characteristics of the projects
* Special features, such as view sites, securitYr etc.
Thus, the study will identify the specific economic-design-social
factors that have made upscale projects successful!
Therefore, the Comprehensive Housing Policy study would consolidate all
of the various studies which have recently been conducted along with the
special supplemental study to arrive at policy recommendations for
housing in each of the various market secpnents presented above. This
would provide the city with specific objectives regarding its future
policies with respect to the development of housing.
~ ~ Underlvina ~ Studv
Empire Economics, due to its substantial experience in conducting
studies in San Bernardino County and San Bernardino city has an
extensive proprietary data base which it will utilize in conducting the
Housing Needs for San Bernardino City. Additionally, Empire Economics
will also use available published data including: Census, Department
HOD, and SCAG, among others.
policv Considerations
The key results of the study will be the demand/supply balance of
housing in each of the designated market segments along with the
programs that are now or may be utilized to maintain an overall balance
of housing in San Bernardino City. To facilitate your review of the
study, and to assist in focusing on the policy implications, Empire
Economics will provide you with a demand/supply graph as shown on the
attached page; such a graph will be formulated for each market segment.
Additionally, Empire Economics will also be available to present the
results of the study to the city Council at a workshop, if so desired.
~ Reauirements ADQ Financial Considerations
The time required to conduct the study is estimated to be some 4-6
weeks; this will include some time for interim meetings to receive
feedback from the Council and Staff.
The fee for the consulting services reflects the time required to
consolidate the various Single- and Multi- Family Bond studies that have
been conducted as well as the Housing Needs Study. Additionally, there
will be a special study on the market segments which have not been
analyzed thusfar, namely the custom, move-up and luxury townhome
segments. Accordingly, the fee for the entire Comprehensive Housing
Program Study is estimated to be $9,500 and it will not exceed $10,000.
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I aa certainly looking forward to providing you with assistance in
formulating a Comprehensive Housing Policy for San Bernardino City.
Such a policy should prove to be beneficial for the city in setting its
future housing goals.
Ph.D.
APPROVED:
APPROVED:
Kenneth J. Henderson Date
COIDIunity Development Department
City of San Bernardino
anczyk Evans, Ph.D.
Economics
2-_7cl?
Date
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NUMBER OF HOUISNG UNITS - ANNUALLY
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UIDIRLtlllrTHI HARIIT/'IASIBIL~STUDt
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... . r..tur.. , ,..nitl.. ...
... ...
... DILIIIATIOI 0' till HARlIT ARIAlI ...
... ...
...................................................................................................
..................... ECONOMIC lSSUMPTIOIS/P1R1METIRS U.DER~tIIG rOREClSTS .....................
... (App.ndl. Al ...
... BASIC AlISUH'TlOIS 'UIDAHIITAL PARABITIIS ...
... '"
... . Growtb 'aths tor Beano.to B.... · Co.position ot the leoDo.10 .... ...
... . Moat Probablt Mortl_.' Ratt (Induatr" Co..utera. Ratir... · To~rl..) ...
... . aat. ot Boualnl Appreciation I EmplOyalnt/Populatlon/Hou.ln. Multlpller. '"
... . Rate ot Inflatlon · Ma,ket Sbar.. ot D.tacb.d/Attaobed loa" ...
... ...
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.....
...
.
......................................................................
..... .....
... ...
. .
................................................ .................................................
. . . .
. POTlRTllL HOUSlla DEHAID POR TRI PROJICT' . ROUSlla SUPPLt AID CAPTURE lATHS ·
. ., FOR TRI ClMDlDATI PROJICT ·
I · · ·
. . R...n\ D.a.lr.pbl., Eapl.,..n\ .nd . ., Suro.y nt tb. A.tl.. R..ld.ntl.1 Proj.c\. ·
Con.tructlon Aotlvit1 Trlnda ., ln thl Marklt RI.lon ·
. 'orlca,t' tor laplor-Int, populatlon . ., Co.parabll Proj.ct. 1n thl Mark.t ae,lon: ·
and Hou.ln., D...nd · · Market SI...nt', Prlc" · Product T1P" ·
. Cnap.rl.on ot For....\. wltb I.c.nt . ., prn-R.t. C.p\ur. R.t.. tnr tb. C.ndlda\' ·
Population' Houdnl Trend. ., Prnj.n\ ·
. Coapo.ltlon ot Hou.lnl D...nd by Prlc,' ., Coap.tltl...... or C.ndld.t. proj..t ·
R.nl.., B.rk.\ S....n\. .nd lnu.l.1 · · 'roj.n\ Sl..' ·
Product 'I'1pe. · · Location ·
. Bodltl..tlon ot Rou.lnl D...od ror tb.' · Produn\ Pl.na: Prl... · Ll.lna Ar... ·
Candidat, Project · · Sp.cial A.,nitie. ·
Mark.t s...enta . ., Captur. 'ate tor the Cand1date Projlot ·
Produot Tfpe · · ·
Prlcl RaD,1 · · ·
. potlnt1al Hou.in. DI.and tor th. . · ·
Candld.t. pr.j.nt · · ·
. . .
................................................ .................................................
..... .....
... ...
. .
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.....
...
.
..................... ABSORPTION SCIEDULE rOR THE 'ROJECT ..................
,.. ...
... . Zati..t.d. Innual De.and tor the Candldat. Project ,..
... . Adjust.eDt of D..and tor Project. ln Mort,a.. Bond I..uI' ,..
... . Candidat. 'rojeot" Captur. aatl ...
... . Tl.. ..quir.d tor.th. Candidate Projlct to b. lb.orbld ...
... .11
..............................................................................
.....
...
.
............... rElSIBILItt AIALYSIS or THB CANDIDATE PROJICT ............
... ...
I" . .1.enuI. ot thl Projlct II'
... . Coata of thl proj.ct ,..
... . Profitabilit1 of thl Project ...
... . 'rea.nt 'alue ot thl 'arcll and Lot. ...
i.. II'
..............................................................................
.....
...
.
.................. SENSITIVITY ANALYSIS O' THI PROJECT .....................
... ...
... . Alternativl Mortsa,1 Rat. rlnancln, Rat.. ...
... . llternatl.' Prio1 Appreclation/Coat Inflation ...
... . Su...r, ...
... ...
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