The following must be included:

1. (1)

   1. (A) A concise description of the site and adjacent parcels, particularly neighborhood housing.

   2. (B) The description must include the development's:

      1. (i) Name;
      2. (ii) Street address (if available);
      3. (iii) City;
      4. (iv) County;
      5. (v) Zip code; and
      6. (vi) Census tract number.
   3. (C) Street-by-street directions to the development location must be provided beginning from the Arkansas state highway or interstate highway closest to the development location;
2. (2) A statement of assumptions and limited conditions considered by the analyst;

3. (3) A brief summary of the development, including the:

   1. (A) Type of construction (new and/or rehabilitation);
   2. (B) Number of buildings;
   3. (C) Number and type of units;
   4. (D) Proposed gross rents; and
   5. (E) Population served;
4. (4) A brief description of the market area;

5. (5)

   1. (A) A precise statement of the analyst's opinion of market feasibility, including the prospect for long-term performance of the development given housing, demographic trends, and economic factors.
   2. (B) The statement must include a capture rate of the need for each unit type, based on the targeted income group determined by the gross rent for such unit, in the expected year of market entry;

6. (6) A summary of market-related strengths and/or weaknesses that may influence the subject development's marketability, including, but not limited to:

   1. (A) Compatibility with surrounding uses;
   2. (B) The appropriateness of the subject development's location;
   3. (C) Service facilities;
   4. (D) On-site amenities;
   5. (E) Off-site amenities and their driving distance from the development;
   6. (F) Unit sizes and configurations; and
   7. (G) Number of units;

7. (7) A summary of all comparable developments that distinguishes existing and planned affordable housing developments by type and includes:

   1. (A) Driving distance from the subject development;
   2. (B) Population served;
   3. (C) Number of units by bedroom size;
   4. (D) Gross rent by unit size;
   5. (E) Services; and
   6. (F) On-site amenities; and

8. (8)

   1. (A) A precise statement of key conclusions reached by the analyst, supported by the data contained in the market study.

   2. (B) These conclusions must include:

      1. (i) A summary of positive and negative attributes and issues that will affect the property's performance and lease-up, the analyst's observations that would mitigate or reduce any negative attributes, and any recommendations and/or suggested modifications to the proposed development;

      2. (ii)

         1. (a) (a) An evaluation of the proposed development, given the target population and market conditions.
         2. (b) (b) This evaluation should include market justification for the proposed development, including the proposed rents by unit and population type, estimated absorption rate, and should further evaluate the proposed unit, development, and on-site amenities given the market; and
      3. (iii) An objective review of past, present, and future demographic and economic trends in the defined market area and include an estimate of how the proposed development will be integrated into the market area based on existing and proposed comparable rental developments.