HUD rent changes prompt market-study redo as developers target workforce rents
The developer said HUD rent limits published April 1 have been incorporated into the project's pro forma and that a new market study will be completed this summer; DDA representatives urged consultants to engage local landlords and stakeholders to improve data accuracy.
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Ferrari told the committee that HUD published new rent limits on April 1 and the project pro forma has been updated to reflect those limits. “Since the time this data was originally pulled last year, new rent limits were published on April 1,” Ferrari said.
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