14490 full.pdf - Georgia Department of Community Affairs
14490 full.pdf - Georgia Department of Community Affairs
14490 full.pdf - Georgia Department of Community Affairs
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An evaluation <strong>of</strong> units renting at or below the proposed Tax Credit and market-rate<br />
rents follows:<br />
UNIT TYPE<br />
ONE-BEDROOM/1.0 BATH<br />
60%<br />
MARKET-RATE<br />
TWO-BEDROOM/1.0 BATH<br />
60%<br />
MARKET-RATE<br />
TWO-BEDROOM/1.5 BATH<br />
60%<br />
MARKET-RATE<br />
TWO-BEDROOM/2.0 BATH<br />
60%<br />
MARKET-RATE<br />
THREE-BEDROOM/2.0 BATH<br />
60%<br />
MARKET-RATE<br />
THREE-BEDROOM/2.5 BATH<br />
60%<br />
MARKET-RATE<br />
PROPOSED<br />
UNITS AT OR BELOW PROPOSED<br />
RENT<br />
NET RENT NUMBER PERCENT VACANCY<br />
IV-41<br />
$384<br />
$485<br />
$430<br />
$545<br />
$475<br />
$590<br />
$455<br />
$590<br />
$520<br />
$650<br />
$550<br />
$690<br />
349<br />
1,252<br />
573<br />
1,958<br />
1,136<br />
2,160<br />
955<br />
2,160<br />
395<br />
1,019<br />
745<br />
1,030<br />
25.8%<br />
92.5%<br />
24.9%<br />
85.2%<br />
49.4%<br />
94.0%<br />
41.6%<br />
94.0%<br />
37.5%<br />
96.7%<br />
70.8%<br />
97.9%<br />
As the above table illustrates, proposed Tax Credit gross rents are an excellent value<br />
when compared with existing rents. The market-rate rents will be among the highest<br />
in the market for each proposed unit type.<br />
2.0%<br />
3.9%<br />
6.6%<br />
5.6%<br />
5.2%<br />
5.4%<br />
5.3%<br />
5.4%<br />
4.3%<br />
3.0%<br />
3.1%<br />
3.1%
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