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FIELD TESTING
GSD has selected 50
public housing properties, approximatly 8 in each of 6 metropolitan
areas (and nearby rural areas). GSD is using local property
management experts who are experienced in managing assisted
housing in those markets to estimate the operating costs of
those properties as if they were privately owned assisted housing-that
is, as if they had all the regulatory requirements and constraints
of entirely Section 8 properties.
Utilizing a standardized protocol,
these property-based budgets will be prepared assuming that
the properties were to be operated as well-run assisted housing
(it will be assumed that residents will be similar to the current
residents or to those who would be eligible to live and choose
to live in a Section 8 project-based development in this location
and of this quality. The real estate professional would be free
to assume the residents could be screened as permitted by program
rules and evicted for cause as permitted by program rules).
The model-predicted costs for these properties will not be revealed
to those preparing the budgets until after the field testing
has been completed. These budgets will be supported with accompanying
line-item narratives and recommended staffing plans. In the
areas of security and resident programs, the budgets will be
prepared assuming what is normal and customary for well-run
assisted housing in those markets. All of these operating budgets
will be created with the Chart of Accounts used for FHA that
have been included in the GSD model of FHA operating costs (see
Draft
Research Design for further detail).
Additionally, because the need for deferred capital improvements
may affect operating costs, these budgets will be developed
under two scenarios: (1) assuming current conditions and (2)
assuming capital needs were addressed.
In addition to testing the predictive abilities of the costing
model, another purpose of the field testing is to determine
whether there are fundamental differences in the physical design
of public housing that affect operating costs, but are not captured
in the costing model.
During late September or early October, GSD will use the benchmark
model to estimate the benchmark costs for the same 50 properties.
GSD will then convene a focus group including both the real
estate professionals and the key staff who worked on the model
to discuss the comparison between the benchmark estimates produced
by the model and the ranges estimated by the real estate professionals.
GSD will also share these results and observations with industry
groups (either through the recommended research working group
or through the regular monthly public progress meeting).
This test of the model against specific public housing properties
will produce information for further refinement of the model
and for decisions about its application. Any adjustments to
be made to the model as a result of this field testing process
will be fully documented.
Questions
and Answers regarding the Field Testing were distributed
for the September 13, 2001 Monthly Public Meeting.
Research Tasks
Data Analysis
Case Studies
Debt Financing
Utilities
Field Testing
Supplemental Research
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