PSA - Zimmerman-Volk Associates, Inc. - Housing Market Study

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SCOPE OF SERVICES AND FEE ESTIMATE An Analysis of Residential Market Potential City of South Bend, St. Joseph County, Indiana August 9, 2017 (revised] SCOPE OF SERVICES This analysis will be conducted in four phases, outlined as follows. PHASE ONE: PROJECT INITIATION TASK 1.1------DATA COLLECTION The client will provide any previous relevant studies and base maps, if any, for the city as a whole and for the individual neighborhoods in advance of the area visit. TASK 1.2—CLIENT MEETING Page 5 A Zimmerman/Volk Associates principal will meet with appropriate City personnel and/or stakeholders during the area visit to review the objectives of the study and the methodology to be employed in the analysis. A key goal of the meeting will be to ensure that Zimmerman/Volk Associates possesses all pertinent data relative to the city as a whole, as well as to determine, in conjunction with the client, how many neighborhood study areas are to be analyzed. Thirteen neighborhoods have been identified; however, given the small size of some of the neighborhoods, the potential to combine neighborhoods with common characteristics into larger study areas will be discussed. TASK 1.3—STUDYAREA EVALUATION Zimmerman/Volk Associates will evaluate the characteristics, constraints and opportunities of the city and the individual neighborhoods. Residential market activity within areas germane to South Bend will be evaluated during this visit. TASK 1.4—INTERVIEWS Representatives of neighborhood organizations, real estate professionals (brokers, sales agents, leasing managers, developers, builders, bankers, City personnel, residents) and other stakeholders familiar with the nuances of the South Bend market area will be interviewed for their opinions on city-wide and individual neighborhood market challenges and opportunities. ZIMMERMANNOLK ASSOCIATES, INC.