Texas Register, Volume 42, Number 43, Pages 5913-6056, October 27, 2017 Page: 5,932
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prior to the removal date and at least ninety (90) days prior to the first
day of the applicable Application Acceptance Period.
(B) To be reinstated as an approved Qualified Market
Analyst, the Market Analyst must amend the previous report to remove
all discrepancies or submit a new sample Market Analysis that con-
forms to the Department's Market Analysis Rules and Guidelines, as
described in this section, in effect for the year in which the updated or
new sample Market Analysis is submitted.
p (3) The list of approved Qualified Market Analysts will be
posted on the Deprtment's web site no later than november 4-s}
(d) Market Analysis Contents. A Market Analysis for a rental
Development prepared for the Department must be organized in a for-
mat that follows a logical progression and must include, at minimum,
items addressed in paragraphs (1) - (13) of this subsection.
(1) Title Page. Include Property address or location, effec-
tive date of analysis, date report completed, name and address of person
authorizing report, and name and address of Market Analyst.
(2) Letter of Transmittal. The date of the letter must be the
date the report was completed. Include Property address or location,
description of Property, statement as to purpose and scope of analy-
sis, reference to accompanying Market Analysis report with effective
date of analysis and summary of conclusions, date of Property inspec-
tion, name of persons inspecting subject Property, and signatures of all
Market Analysts authorized to work on the assignment. Include a state-
ment that the report preparer has read and understood the requirements
of this section.
(3) Table of Contents. Number the exhibits included with
the report for easy reference.
(4) Market Analysis Summary. Include the Department's
Market Analysis Summary exhibit.
(5) Assumptions and Limiting Conditions. Include a de-
scription of all assumptions, both general and specific, made by the
Market Analyst concerning the Property.
(6) Identification of the Property. Provide a statement to
acquaint the reader with the Development. Such information includes
street address, tax assessor's parcel number(s), and Development char-
acteristics.
(7) Statement of Ownership. Disclose the current owners
of record and provide a three (3) year history of ownership for the sub-
ject Property.
{(8) Secondary Market Area A geographic area from
which the Development may draw limited demand in addition to the
P-MA A SMA is not requiredbut may be defined at the discretion of
the Market Analyst to support identified demands All of the Market
Analyst's cenlusions specific to the subet Deveepment must be
based on only one SMA defmitio. The entire PMA as described in
this paragraph, must be contained within the SMA boundariesThe
Market Analyst must adhere to the mehodology desribed in this para-
graph when cr ete~crmining the Secondar Market Area. (- 2306-67055}
{(A) The AMA will be defined by the Market Analyst
withA
f( geographic size based on a base year population
of no more than 255,000 people inekisie of the PMA; and}
{(b bmidaies lased on US-. census tracts}
1(B) The Market Analyst's definition of the SMA must
inel~ide1f(# a detailed narrative specific to the MA explain-
ing}
{-() how the ehundaries f the MA were Aeler-
mined with respect to eensiis tr-acts hesen and factors for in-l oding er
excluding e ain ensis tr-acs in proximity to the Development;}
Z(JI whether a mor logical market area within
the SMA exists but is not definable by census tracts and low this sub-
section of the SMA supports the rationale for the defamed SMA and
also explains how the SMA relates to the PMA in terms of its qiata-
tive and qxiantitatPe aspects;
{-(Th9) what are the speeifie attributes of the De-
velopment's leeatkm within the SMA that would draw prespedive ten-
ants QuIrently residing in other areas of the MA to releeate to the De-
wlopmentt}
f{-V what are the speeiie attribtesif known,
of the Development i seif that would draw prospetive tenants Qirrently
residing in other areas of the 8MA to releeate to the Development; andj
{(V other hsgissues in geera ipe14inent-}
{(-0 a eemplete demographic report for the defined
SMA; nd
f(igi a sealed distance map indicating the SMA
boundaries showing relevant U-en ensus tracts with complete 44-digit
identi4iationmumbers in numerical order with labels as well as the l1-
cation of the sub eet Development and all comparable Deelopments-}
(8) [(9)] Primary Market Area. A limited geographic area
from which the Development is expected to draw most of its demand.
The size and shape of the PMA should be reflective of proximity to
employment centers, services and amenities and contain the most sig-
nificant areas from which to draw demand. All of the Market Analyst's
conclusions specific to the subject Development must be based on only
one PMA definition. The Market Analyst must adhere to the method-
ology described in this paragraph when determining the market area.
( 2306.67055)
(A) The PMA will be defined by the Market Analyst as:
(i) geographic size based on a base year population
no larger than necessary to provide sufficient demand but no more than
100,000 people;
(ii) boundaries based on U.S. census tracts; and
(iii) the population of the PMA may exceed 100,000
if the amount over the limit is contained within a single census tract.include:
ing:(B) The Market Analyst's definition of the PMA must
(i) a detailed narrative specific to the PMA explain-(I) how the boundaries of the PMA were deter-
mined with respect to census tracts chosen and factors for including or
excluding certain census tracts in proximity to the Development;
(II) whether a more logical market area within
the PMA exists but is not definable by census tracts and how this sub-
section of the PMA supports the rationale for the defined PMA;
(III) what are the specific attributes of the Devel-
opment's location within the PMA that would draw prospective tenants
from currentlyy residing i] other areas of the PMA to relocate to the
Development;42 TexReg 5932 October 27, 2017 Texas Register
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Texas. Secretary of State. Texas Register, Volume 42, Number 43, Pages 5913-6056, October 27, 2017, periodical, October 27, 2017; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth897027/m1/20/?q=%22%22~1: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.