Attachment C_Cost Proposal.docx

ATTACHMENT C

COST PROPOSAL FORM

REQUEST FOR APPLICATIONS (RFA) 9288

Qualified Appraiser List for Multifamily Affordable Housing Development

COST PROPOSAL INSTRUCTIONS

Purpose: This form requests your proposed fee schedule for appraisal and market analysis services. Provide competitive, transparent pricing that reflects market rates for multifamily affordable housing work in Oregon.

Important Notes:

· All prices should be all-inclusive unless specifically noted as additional expenses

· For appraisal services, state whether applicant proposes fixed fees (per appraisal/study) or hourly rates

· For consulting services, provide a proposed hourly rate

· Clearly indicate whether travel expenses are included or billed separately

· Pricing should reflect typical Oregon market projects of varying complexity

· OHCS will evaluate cost reasonableness as part of the scoring process (Criterion D – 15% weight)

SUBMISSION NOTES:

· Provide detailed cost proposal addressing all sections above

· Incomplete cost proposals may result in lower Criterion D (Cost) score

· Applicants not completing this attachment clearly may be deemed non-responsive

· OHCS may request clarification of pricing; applicants must respond within 5 business days

SECTION 1: APPRAISAL FEES

1.1 As-Is Appraisal (Acquisition/Existing Properties)

Standard Market-Rate Multifamily (Multifamily /Commercial 5+ units, urban/suburban areas*) Includes property description, site analysis, market data, comparable sales, value conclusion

Fixed Fee per Appraisal: $___________________

OR Hourly Rate (if hourly preferred): $__________ per hour; Est. Hours: __________

Estimated Turnaround Time: __________ business days

USPAP and FIRREA compliant

Delivery format: Electronic (PDF)

Notes/Details:

1.2 Prospective Appraisal (New Construction/As-Completed)

Standard Market-Rate Multifamily (Multifamily /Commercial 5+ units, new construction)

Fixed Fee per Appraisal: $___________________

OR Hourly Rate: $__________ per hour; Est. Hours: __________

Estimated Turnaround Time: __________ business days

Narrative Scope:

Includes site analysis, market analysis, highest and best use analysis, valuation of completed property

Addresses construction period and post-completion market conditions

USPAP and FIRREA compliant

Delivery format: Electronic (PDF)

Scaling for Larger Projects (100+ units):

Additional cost per unit above 100: $__________ per unit OR percentage markup: __________% above base fee

Scaling for Smaller Projects (5–99 units):

Discount: __________% below base fee OR fixed adjustment: $___________________

Notes/Details:

1.3 Appraisal with Complex Features

Multifamily with Mixed-Use/Mixed-Income/Supportive Housing Components:

Premium above standard fee: __________% OR $___________________

Estimated Additional Hours: __________

Estimated Turnaround Time: __________ business days

Justification for Premium (if applicable):

SECTION 2: MARKET ANALYSIS AND RENT FEASIBILITY STUDY FEES

2.1 Standard Market Study (Rent Feasibility Analysis)

Scope includes:

· Market area definition and demographic analysis

· Supply analysis (competitive properties, pipeline)

· Demand analysis (income trends, household formation)

· Rent analysis (market rents, restricted rents)

· Absorption and penetration analysis

· Conclusions on project feasibility

· Report delivery in narrative format

Standard Market Study (40–100 units):

Fixed Fee per Study: $___________________

OR Hourly Rate: $__________ per hour; Est. Hours: __________

Estimated Turnaround Time: __________ business days

Market Study with Supportive Housing or Special Needs Populations:

Premium above standard fee: __________% OR $___________________

Estimated Additional Hours: __________

Estimated Turnaround Time: __________ business days

2.2 Comprehensive Market Study (Advanced Analysis)

Scope includes (all items in 2.1 plus the following):

· Advanced demand modeling

· Scenario analysis (market conditions, occupancy rates)

· Sensitivity analysis (rent levels, affordability impact)

· Comparable affordability property analysis

· Policy and regulatory analysis

· Long-term market trend analysis

· Executive summary with strategic recommendations

Comprehensive Market Study Fee

Fixed Fee per Study: $___________________

OR Hourly Rate: $__________ per hour; Est. Hours: __________

Estimated Turnaround Time: __________ business days

SECTION 3: APPRAISAL REVIEW AND CERTIFICATION SERVICES

3.1 Market Analysis Review (USPAP SR-1/SR-3 Compliance)

Scope includes:

· Review of third-party market analysis submitted by another appraiser

· Assessment of completeness, appropriateness, and reasonableness

· Analysis of comparable data and rent conclusions

· Recommendations for modifications or corrections

· Written review report with conclusions

· USPAP SR-1 or SR-3 compliance certification

Market Analysis Review Fee

Fixed Fee per Review: $___________________

Estimated Turnaround Time (initial review): __________ business days

Estimated Turnaround Time (post-revision): __________ business days

Volume Discount (if 5+ reviews annually)

Discounted Fee per Review: $___________________

3.2 Appraisal Report Review (USPAP SR-1/SR-3 Compliance)

Scope includes:

· Review of third-party appraisal report

· Assessment of market analysis, valuation approaches, conclusions

· Review of comparables selection and analysis

· Assessment of rent-restricted market impact on value

· Recommendations for modifications or corrections

· Written review report with conclusions

· USPAP SR-1 or SR-3 compliance certification

Appraisal Report Review Fee

Fixed Fee per Review: $___________________

Estimated Turnaround Time (initial review): __________ business days

Estimated Turnaround Time (post-revision): __________ business days

Volume Discount (if 5+ reviews annually)

Discounted Fee per Review: $___________________

SECTION 4: CONSULTING AND ADVISORY SERVICES

4.1 Hourly Consulting Rate

Scope includes:

· Market analysis questions and data requests

· Comparable property research and recommendations

· Rent analysis and market feasibility questions

· Underwriting support and expert consultation

· Meetings, conference calls, and written analyses

· Project support during feasibility and underwriting phases

Hourly Rate (Standard): $__________ per hour

Minimum Billing Unit:__________ hours (typically 0.25 or 0.5 hour increments)

Premium Rate (Expedited/After-Hours): $__________ per hour (if applicable) Specify when premium rate will be applicable:

Estimated Turnaround for Written Consulting Response: __________ business days

4.2 Retainer/On-Call Services (Optional)

If applicable, propose retainer option for ongoing availability

Monthly Retainer Fee: $___________________

Includes: __________ hours of availability per month (or other arrangement)

Additional Hours Beyond Retainer: $__________ per hour

Retainer Commitment Period: __________ months minimum

SECTION 5: EXPENSES AND REIMBURSEMENT

5.1 Travel and Expense Policy

Travel expenses (airfare, lodging, mileage, meals) included in fees above?

☐ Yes – All travel included in fixed fees ☐ Partially – Billed separately as noted below ☐ No – Travel billed separately at cost

If Travel Expenses Billed Separately

Note on Travel Frequency

Describe your typical travel pattern for Oregon projects (e.g., based in Portland, periodic travel to Central/Eastern Oregon):

5.2 Report Delivery and Production

Electronic delivery (PDF, email) included in fees? ☐ Yes ☐ No

Hard copies (if requested):

Cost per hard copy report set: $___________________

Digital files/GIS data (if applicable):

Additional cost for digital deliverables: $___________________

Rush/Expedited Delivery (24–48 hour turnaround):

Additional premium: __________% above standard fee OR $___________________

SECTION 6: VOLUME AND ANNUAL PRICING

6.1 Projected Workload and Capacity

How many OHCS appraisals/studies can you accommodate annually?

__________ appraisals per year __________ market studies per year __________ reviews per year

Staffing/Capacity Note:

6.2 Volume Discount Schedule (Optional)

SECTION 7: PAYMENT TERMS AND INVOICING

7.1 Billing and Payment Arrangements

Preferred Invoice Timing (check one):

☐ Upon completion of work ☐ 50% upon engagement, 50% upon completion ☐ Monthly invoicing for ongoing work ☐ Other arrangement: ___________________________________________________

Payment Terms Acceptable:

☐ Net 30 days ☐ Net 45 days ☐ Other: _______________________________________________________________

Invoice Format/Method:

☐ Electronic invoice (email to OHCS) ☐ Hard copy invoice ☐ Online invoicing system (if applicable)

7.2 Cost Controls and Budget Expectations

Do you anticipate any additional costs beyond fees listed above?

☐ No – Fees are all-inclusive as specified above ☐ Yes – Describe: ________________________________________________________

Cost Overrun Protocol

If project scope expands beyond initial appraisal, how will additional costs be handled?

Cost Estimate Accuracy

What is your typical cost variance between estimate and final invoice?

__________ % variance (average)

SECTION 8: COMPETITIVE COMPARISON

8.1 Fee Reasonableness Justification

Briefly explain how your fees are competitive and reasonable for LIHTC/HOME multifamily work in Oregon:

How do your fees compare to:

Regional market rates? ___________________________________________________ National average rates? ___________________________________________________ Your own prior OHCS work? ___________________________________________________

SECTION 9: COST PROPOSAL CERTIFICATION

I certify that:

☐ All fees listed above are accurate and will be honored for the two (2) year approval period ☐ Fees are competitive and reasonable for the Oregon market ☐ Fees include all costs except as specifically noted ☐ I will provide cost estimates within 5 business days of project referral ☐ I will not exceed estimated fees without prior written approval from OHCS ☐ I will provide rate updates prior to the close of the two (2) year approval period if prices change for any subsequent renewal period.

☐ Pricing is contingent upon approval; the State has no binding obligations until contract execution

Printed Name and Title:__________________________________________________________

END OF ATTACHMENT C

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