USDA Rural Development
Comprehensive Property Assessment
Nationwide
 

• Properties distributed across 47 states and Puerto Rico
• Inspected all 333 properties and their features in 2 months time

In 2003-2004 OSI assisted the USDA Rural Development mission area by conducting physical needs assessments at 333 Section 515 multifamily housing assets. OSI was part of a team, led by ICF Consulting, which was tasked with developing a Comprehensive Property Assessment and portfolio analysis of the entire Section 515 program. This study was intended to identify the enhancements and improvements needed to maintain the portfolio and provide a financial analysis of the program.

The properties were distributed across 47 states and Puerto Rico. OSI staff worked under significant time pressure to complete the reports on schedule. A team of 18 professionals inspected all 333 properties between October 21 and December 30. Inspectors observed every building, every mechanical room, and a sample of at least 25% or each unit type – over 3,500 units. A customized version of OSI’s needs assessment report was produced for each property. These included cost estimates for current and future needs and an evaluation of handicap accessibility.

Each report was uploaded to a secure website for review by USDA state staff. Comments were returned by email. Final reports were posted to the site and shared with the Project Team. OSI then created a database containing all of the work items in the 333-property sample, coded by property and by work item. This database provided valuable inputs to the market assessment and policy analysis members of the team. RD has used the CPA in the development of new afforadble housing preservation initiatives with Congress and Administration.

In addition to ICF Consulting, team members included Beekman Advisors, The Compass Group, AEW Capital Management, L.P., and Carter and Associates.