National Council of Housing Market Analysts - NCHMA Spring Meeting April 13-14, 2021
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
National Council of
Housing Market Analysts
NCHMA Spring Meeting
April 13-14, 2021
2021 NCHMA Spring Meeting
3
Agenda
Tuesday, April 13
1:00 pm Welcome & Introductions
1:20 pm Housing Markets & Conditions: Perspective from HUD and Beyond
• Mary Ann Barnett, MAI, BBG
• Tyler Hamels, Value Tech*
• Kevin Kane, U.S. Department of Housing and Urban Development
• Quintin Kauchick, Value Tech*
• Sam Young, U.S. Department of Housing and Urban Development
2:30 pm Break
2:35 pm Understanding the Many Forms of Section 8 & Rental Assistance
• Jessie Cassella, Kein Hornig LLP
• Rachel Denton, Novogradac*
• Priya Jayachandran, National Housing Trust
3:25 pm Closing Remarks
3:30 pm Networking Reception
Wednesday, April 14
1:00 pm Welcoming Remarks
1:05 pm Investor & Syndicator Roundtable: Portfolio Perspectives
• Bud Clarke, Boston Financial Investment Management
• Josh Ghena, Cinnaire
• Kelly Murdock, Community Research Services LLC*
• Brooke Solis, CREA, LLC
1:55 pm Break
2:00 pm What’s the Deal with the 2020 Census? How the Delayed Data is Affecting
Decision Making in the Affordable Housing Industry
• Rick Stein, Urban Decision Group
2:30 pm Break
2:35 pm Development & Design Considerations for the Post-COVID World
• Michael Binette, The Architectural Team, Inc.
• Denise Carter, The Pacific Companies
• Sam Tedford, City of Austin
• Rob Vogt, Vogt Strategic Insights*
• Christopher Zimmerman, Smart Growth America
3:25 pm Closing Remarks
* Designates panel moderator
NCHMA Spring Meeting Session Materials
Go to: https://www.housingonline.com/events/nchma-spring-meeting-2021-virtual/agenda/
www.housingonline.com
4
Continuing Education (CE) Instructions
New NCHMA Member Designation Requirements
To remain in good standing, all NCHMA member firms must have at least one
employee participate in the NCHMA Member Designation Program. The Professional
Members Designation Program is comprised of the following components:
• Maintains an active NH&RA/NCHMA Membership (Company, Annual
Requirement);
• Adherence to Continuing Education (CE) Requirements (Individual, Biennial
Requirement); and
• Signed NCHMA Member Designation Agreement (Individual, Annual
Requirement) (Download at https://bit.ly/3woobN7).
The CE requirements for the NCHMA Member Designation are the following:
• Members must complete at least 32.0 CE credits between January 1 and
December 31 of the following year.
• A portion of the hours must be attained through one of the following means:
• Attend a NCHMA Hosted Conference in person. NCHMA hosts at least two
annually;
• Attend and complete a full NCHMA Market Study Fundamentals in-person
or training session. NCHMA hosts one or two in-person training sessions in
partnership with housing finance agencies;
• Participate as faculty at NCHMA’s Market Study Fundamentals in-person/
virtual training session;
• Complete all three components of NCHMA’s Virtual Market Study
Presented by NH&RA and NCHMA
Fundamentals training session;
• Designated individual submits and completes NCHMA’s Peer Review
process; or
• Author a Standards Committee commissioned white paper.
• While the 32 CE credits must be earned over the course of two years, the
Continuing Education Credit Form (Download: https://bit.ly/2PFBPL3) must be
submitted by December 15 of each year.
• If you do not meet the CE requirement and submit your Annual Education Credit
form by January 15, your Professional Member Designation will be suspended,
and you will be subject to a $150 reinstatement fee. You will have a one-month
grace period to meet your CE requirement for the previous two years.
• If your firm does not pay dues within one month of your firm's renewal date,
your Professional Member Designation will be suspended until your firm pays its
dues and a $150 late fee.
• Please note the Member Designation program operates on a calendar year.
www.housingonline.com
2021 NCHMA Spring Meeting
5
Upcoming Events
NH&RA Events
Unmute the Mic—–Multifamily Construction Roundtable
April 22, Virtual Town Hall
2021 Spring Developers Forum
May 3-4, Virtual Conference
Unmute the Mic—Developers Roundtable—Mid Year Checkin
May 20, Virtual Town Hall
Unmute the Mic—Gap Sources & Niche Financing Tools
May 27, Virtual Town Hall
2021 Asset Management Conference
June 8-9, Virtual Conference
2021 Unmute the Mic—Town Hall Series
June 17, Virtual Town Hall
2021 Unmute the Mic—Town Hall Series
July 7, Virtual Town Hall
Register and learn more:
www.housingonline.com/events/
www.housingonline.com
Presented by NH&RA and NCHMA 6 www.housingonline.com
2021 NCHMA Spring Meeting
7
NCHMA Executive Committee
Chair
Kelly Murdock, Community Research Services
Vice-Chair
Liza Mutzl, Mitchell Market Analysts, Inc.
Members
Patrick Bowen, Bowen National Research
Tyler Borowy, Prior & Associates
Rachel Denton, Novogradac & Company
Rob Vogt, Vogt Strategic Insights
Immediate Past Chair
Tad Scepaniak, Real Property Research Group
www.housingonline.com
8
About NCHMA
NCHMA is the only professional body dedicated exclusively to the field of
residential rental real estate market analysis. NCHMA’s members are comprised of
professionals involved in performing and reviewing residential market studies. The
Council presents opportunities for market analysts to discuss current issues,
network, and gain state-of-the-art information. In this spirit, NCHMA, under the
leadership of its Executive Committee, formally adopted and released the
following products, all of which are available at www.housingonline.com.
Market Study Terminology
A set of uniform definitions of key terms commonly used in market studies for
proposed affordable rental housing projects, particularly developments utilizing
the federal low-income housing tax credit.
Model Content Standards for Market Studies for Rental Housing
A set of recommendations on the specific types of information, data, analysis, and
conclusions that should be contained or addressed in a market study for an
affordable rental housing project.
Market Study Index
Intended to help the reader of a market study find specific information quickly,
this checklist provides a list of the specific individual component areas of
Presented by NH&RA and NCHMA
information that the Model Content Standards says should be provided in a
market study, with a space where the analyst can insert the page number of
where each component is addressed in the study.
Market Study Certification
Signed by the analyst, who is a NCHMA member and prepared the market study,
the statement will certify that the analyst has no financial interest in the project
and that the market study has been prepared in conformance with NCHMA’s
Market Study Terminology and Model Content Standards (and, in areas where it
does not conform, the reasons for non-conformance).
www.housingonline.com
2021 NCHMA Spring Meeting
9
NCHMA White Papers and Research
Recommended Practices for LIHTC Average Income Properties
The Consolidated Appropriations Act of 2018 created a third minimum set-aside
election to meet the qualified LIHTC project requirements referred to as the
“Average Income Test.” This white paper explores how to select comparables and
calculate the achievable rent levels and capture rates for 70 and 80 of area median
income units. The author identifies several red flags including lack of legitimate
comparables, large adjustments and comparables from well outside the Primary
Market Area.
Factors to Consider in Market Analysis of a Preservation Property
In an effort to preserve Section 8 and Section 236 properties as affordable rental
housing, many non-profit and for-profit developers are using tax credit equity to
renovate the properties. This paper explores a range of factors to be considered in
market analysis of preservation properties and recommends best practices for
market analysis.
Selecting Comparable Properties
Comparable properties are used for several purposes within a market study. They
are used to help evaluate the market, to evaluate the subject’s position within a
market and used to determine market rents. The more similar the comparable
properties are to the proposed property, the more reliable the conclusions that
may be drawn. The purpose of this paper is to investigate the concepts involved in
selecting comparable properties, and to identify some of the ways comparable
properties are used in a study.
Calculating Market Rent
A market analysis for income properties, which includes rental units, requires an
estimate of market rent. Depending on the purpose of the study, it could be an
average market rent for all units in a defined market area, a weighted average
market rent for all units, or for various unit types, i.e. studio, one or two
bedrooms.
Scope of Work & Reporting Options
This document aims to improve the level of consistency and transparency of
affordable housing market studies through a well-defined scope of work. It
outlines three distinct reporting options for analysts who regularly conduct market
reports with varying degrees of detail and/or conclusions. This document
recognizes that different types of market study products exist, and provides
guidance for clearly communicating the depth of a market study's content and
conclusions.
www.housingonline.com
10
NH&RA Membership
Membership is by company or organization, which allows all
employees to participate in and benefit from NH&RA. Each company
or organization may designate a Primary and Alternate Delegate, as
well as an unlimited number of Additional Delegates.
Presented by NH&RA and NCHMA
Let’s Get Social!
www.housingonline.com2021 NCHMA Spring Meeting
www.housingonline.com
1112
COVID-19 Corner
NH&RA is here to support you during these challenging times. An
updated COVID-19 News page is live on our website where you can
access evolving guidance on the Coronavirus. An interactive COVID-19
Community Forum is also live on our website. You can access the forum
by logging into your NH&RA account.
Presented by NH&RA and NCHMA
www.housingonline.com2021 NCHMA Spring Meeting
www.housingonline.com
1314
Our leading industry magazine, published monthly, provides compre-
hensive coverage on all aspects of the development and financing of
affordable rental housing, historic preservation and economic devel-
opment projects using federal and state tax credits and other re-
sources.
Targeted to developers, syndicators, lenders, attorneys, accountants,
housing agencies, and other professionals, the magazine focuses on
federal and state:
• Low-Income Housing Tax Credits;
• Historic Rehabilitation Tax Credits;
• New Markets Tax Credits; and
• Renewable Energy Tax Credits.
Presented by NH&RA and NCHMA
NH&RA would like to share some TCA articles from recent issues.
Pg. 15—FHA’s New Map Guide, February 2021
Pg. 17—What Makes the Right Location for Development?,
January 2021
Pg. 20—Design After COVID-19, April 2021
Pg. 24—The COVID Housing Economy, January 2021
www.housingonline.com2021 NCHMA Spring Meeting
www.housingonline.com
15Presented by NH&RA and NCHMA 16 www.housingonline.com
2021 NCHMA Spring Meeting
www.housingonline.com
17Presented by NH&RA and NCHMA 18 www.housingonline.com
2021 NCHMA Spring Meeting
www.housingonline.com
19Presented by NH&RA and NCHMA 20 www.housingonline.com
2021 NCHMA Spring Meeting
www.housingonline.com
21Presented by NH&RA and NCHMA 22 www.housingonline.com
2021 NCHMA Spring Meeting
www.housingonline.com
23Presented by NH&RA and NCHMA 24 www.housingonline.com
2021 NCHMA Spring Meeting
www.housingonline.com
25Stay Connected With
National Housing & Rehabilitation Association
1400 16th Street, NW, Suite 420
Washington, DC 20036
P: (202) 939-1750
info@housingonline.com
Staff
Thom Amdur Paul Connolly
President Executive Editor, Tax Credit Advisor
202-939-1753 202-939-1774
tamdur@dworbell.com pconnolly@dworbell.com
Peter Bell Kaitlyn Snyder
Chief Executive Officer Director, Policy
202-939-1741 202-939-1795
pbell@dworbell.com ksnyder@dworbell.com
Laura Ross Brooke Williamson
Membership Services Specialist Operations Specialist
202-939-1793 202-939-1773
lross@dworbell.com bwilliamson@dworbell.comThank You to NH&RA’s Sustaining Members
Platinum Members:
CBRE Affordable Housing
Cinnaire
Lument
National Equity Fund
R4 Capital
Stratford Capital Group
Gold Members:
Bank of America
CohnReznick LLP
Enterprise Community Investment/Bellwether Enterprise
Silver Members:
Applegate & Thorne-Thomsen
Churchill Stateside Group
Key Bank
Lincoln Avenue Capital
Miles & Stockbridge
PGIM Real Estate Finance
Red Stone Equity Partners
Royal American Companies
Bronze Members:
Berkadia
Boston Financial Investment Management
Capital One Bank
Chesapeake Community Advisors Inc.
Dauby O’Connor & Zaleski, LLC
Eagle Point Enterprises LLC
Fannie Mae
Holland & Knight LLP
Mid-City Financial Corporation
Newmark Knight Frank
Nixon Peabody
Nolan Sheehan Patten LLP
Novogradac & Co.
PNC Bank
Robinson & Cole
Strategic Group of Companies
Sullivan & Worcester
Troutman Pepper
Wisconsin Housing Preservation Corporation
WNC & Associates, Inc.Sustaining Member Sponsors:
Event Sponsors: Thank you for attending!
You can also read
