Qualified providers lihtc market studies

The South Carolina State Housing Finance & Development Authority has issued a Request for Qualifications (RFQ) to establish a Qualified Providers List (QPL) for Low-Income Housing Tax Credit (LIHTC) Market Studies, specifically targeting Richland County. The procurement seeks independent third-party market analysts to conduct comprehensive market studies for LIHTC rental housing developments, which are mandatory under Section 42(m)(1)(A)(iii) of the Internal Revenue Code. Qualified providers must demonstrate at least five years of experience as the primary author of LIHTC market studies, have documented LIHTC market research experience in South Carolina, and maintain a primary business operation dedicated exclusively to market study preparation. Key evaluation criteria include prior experience working with State Housing Finance Authorities, membership in professional organizations like the National Council of Affordable Housing Market Analysts, and submission of required documentation including application forms, staff resumes, references, and sample market studies. The original solicitation was issued with an initial application deadline of January 23, 2023, at 10:00 AM ET, with questions due by January 5, 2023, at 12:00 PM ET, and the Approved Market Study Provider List was initially scheduled to be posted on January 31, 2023 (later revised to February 8, 2023).

The QPL has specific restrictions on participant qualifications, prohibiting firms with conflicting business interests such as appraisal, survey, or financial services from participating. Subcontracting is expressly forbidden, and all providers must maintain a South Carolina Vendor Number and specify their entity type. The qualified providers list includes nine vendors from various states, including firms from Ohio, Maryland, and Georgia, such as BBG, Inc., Novogradac & Company LLP, and Bowen National Search. The list will remain effective for an estimated five-year period from January 31, 2023, through January 30, 2028, with automatic annual renewals unless the state provides 30 days' notice of non-renewal. No direct financial compensation is provided by SC Housing to the qualified providers; instead, agreements will be independently established between LIHTC applicants and the selected market study providers. The procurement does not include specific budget ranges or award values, as this is a qualifying list rather than a direct contract award. Providers must comply with drug-free workplace requirements, ethics standards, debarment certifications, and South Carolina trade representation laws.