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<br /> <br /> <br /> <br />Hillside Heights Apartments, Elk River, Minnesota <br /> <br />Market Analyst Professionals, LLC 80 April 24, 2020 <br />Addendum A <br />Market Study Checklist <br />The following components have been addressed in this market study. The page number of each component is noted below. <br />Each component is fully discussed on that page or pages. In cases where the item is not relevant the author had indicated ‘N/A’ <br />or not applicable. Where a conflict with or variation from Minnesota Housing Market Study Guidelines exists, the author has <br />indicated a ‘V” (variation) with a comment explaining the conflict. <br /> <br /> Component Pages <br />1 Unit mix and pro forma rents 8 <br />2 Description and justification of Primary Market Area 9 <br />3 Income band for subject property 70 <br />4 Demand projections 70 <br />5 Comparison of subject to comparable market rate and affordable properties 47-66 <br />6 Forecasted achievable market rents for the subject property 84 <br />7 Required capture rate 70 <br />8 Forecasted lease up schedule 69 <br />9 Recommended changes to the project NA <br />