The following must be included:
(1)
- (A) An identification of the geographic market area by census tracts, jurisdictions, street names, or other geography forming the boundaries from which potential renters will be drawn (include a map that clearly delineates the market area).
(B) The analyst must provide a reasonable rationale for the market area taking into account:
- (i) Political and natural boundaries;
- (ii) Experience of comparable rental housing developments in the market area; and
- (iii) Socioeconomic characteristics;
(2) A driving distance map of the suggested market area that identifies:
- (A) The proposed development;
- (B) All comparable rental properties;
- (C) Closest medical/pharmaceutical facility;
- (D) Closest full-service grocery store (do not include convenience stores);
- (E) Schools; and
- (F) Public transportation; and
(3) Description of current site characteristics, including:
- (A) Topography, e.g., grade, low-lying area, flood plain, or wetlands;
- (B) Proximity in feet to nuisances, e.g., railroad tracks, major highways/interstates, manufacturing/production plants; and
- (C) Environmental issues.