Section 18
Project Information
Appendix B-1, page 257
The Project Information section includes information about mandatory fees, project factors and amenities, their impact to value and/or marketability, and information specific to cooperatives (if applicable). This section provides space for additional commentary and exhibits.
The Project Information section displays when the property is in a project (condominium, cooperative, or condop) or in a PUD.
- Condominium Cooperative Condop - PropertyInProjectIndicator (UID: 0100.0065, FID: Not on report) = "true"
- Planned Unit Development (PUD) - PUDIndicator (UID: 0100.0026, FID: 18.000) = "true"
The selection of Condominium, Cooperative, Condop or PUD checkboxes in Project Information section are redisplayed from the Subject Property section. When yes is selected in Subject Property, the corresponding checkbox is checked in Project Information. When not selected, the checkbox displays unchecked (blank). The four checkboxes are mutually exclusive, only one checkbox can display a checkmark. (Figure 18 - 1)
- Condominium - ProjectLegalStructureType (UID: 2500.0168, FID: 18.001)
- Cooperative - ProjectLegalStructureType (UID: 2500.0168, FID: 18.002)
- Condop - ProjectLegalStructureType (UID: 2500.0168, FID: 18.003)
- Planned Unit Development (PUD) - PUDIndicator (UID: 0100.0026, FID: 18.000)
Figure 18 - 1
Project Information: General Information
| Report Field ID | Report Label | Unique ID | MISMO Data Point Name | Display Rules |
|---|---|---|---|---|
| 18.000 | Planned Unit Development (PUD) | 0100.0026 | PUDIndicator | Checkbox always displays. Selection is redisplayed from Subject Property section. When True, box is checked when false, not selected. |
| 18.001 18.002 18.003 | Condominium Cooperative Condop |
2500.0168 | ProjectLegalStructureType | Checkboxes always display. Selection is redisplayed from Subject Property section. − If Condominium, display Condominium checkbox as "checked" and other checkboxes "unchecked". − If Cooperative, display Cooperative checkbox as "checked" and other checkboxes "unchecked". − If Condop, display Condop checkbox as "checked" and other checkboxes "unchecked". |
| 18.004 | Project Name | 2500.0065 | ProjectName | Display when PropertyInProjectIndicator = "true" |
| 18.005 | Project Information Data Source | 0700.0125 | DataSourceType | Always displays When multiple data sources are provided display as stacked. |
| 18.006 | Total Units | 2500.0060 | ProjectDwellingUnitCount | Display when PropertyInProjectIndicator = "true" |
| 18.007 | Units Sold | 2500.0064 | ProjectDwellingUnitsSoldCount | Display when PropertyInProjectIndicator = "true" |
| 18.008 | Units for Sale | 2500.0061 | ProjectDwellingUnitsForSaleCount | Display when PropertyInProjectIndicator = "true" |
| 18.009 | Units Rented | 2500.0062 | ProjectDwellingUnitsRentedCount | Display when PropertyInProjectIndicator = "true" |
| 18.009 | Units Rented | 2500.0161 | ProjectDwellingUnitsRentedEstimateIndicator | When "true", display ~ before Units Rented. |
| 18.010 | Reason Units Rented is Estimated | 2500.0162 | ProjectDwellingUnitsRentedEstimateDescription | Display when ProjectDwellingUnitsRentedEstimateIndicator = "true" |
| 18.011 | Monthly Amount | 2500.0006 | AssociationChargeType | When PropertyInProjectIndicator = "true" OR PUDIndicator = "true" AND AssociationChargeType = "AssociationDues" display AssociationChargeAmount. Amount can be zero. |
| 2500.0007 | AssociationChargeAmount | Display when AssociationChargeType = "AssociationDues" | ||
| 18.012 | Common Amenities/Services Included | 2500.0004 | AmenityType | Display when PropertyInProjectIndicator = "true" OR PUDIndicator = "true" If multiple, display as stacked. |
| 18.012 | Common Amenities/Services Included | 2500.0002 | AmenityOwnershipType | Display when AmenityType = "BoatSlip" OR "UnitStorage". Display in () next to Amenity Type |
| 18.013 | Utilities Included | 2500.0009 | AssociationChargeIncludesUtilityType | Display when AssociationChargeType = "AssociationDues". If multiple, display as stacked. |
| 18.014 | Observed Deficiencies | 2500.0033 | ProjectDeficiencyObservedIndicator | Checkbox always displays. |
| 18.015 | Description of Deficiencies | 2500.0032 | ProjectConditionAndQualityDescription | Display when ProjectDeficiencyObservedIndicator = "true" |
| 18.016 | Are units, common areas, and amenities in project complete? | 2500.0058 | ProjectCompletedIndicator | Checkbox always displays. |
| 18.017 | Subject Property Building Complete | 2500.0066 | SubjectBuildingCompletedIndicator | Checkbox displays when ProjectCompletedIndicator = "false". |
| 18.018 | Converted in Past 3 Years | 2500.0048 | ProjectConversionIndicator | Checkbox always displays. |
| 18.019 | Ground Rent | 2500.0031 | ProjectAnalysisGroundRentIndicator | Display when PropertyInProjectIndicator = "true" |
| 18.020 | Annual Amount | 2500.0028 | ProjectAnalysisGroundRentAmount | Display when ProjectAnalysisGroundRentIndicator = "true" |
| 18.021 | Expires | 2500.0030 | ProjectAnalysisGroundRentExpirationDate | Display when ProjectAnalysisGroundRentIndicator = "true" |
| 18.022 | Description of Ground Rent | 2500.0029 | ProjectAnalysisGroundRentDescription | Display when ProjectAnalysisGroundRentIndicator = "true" AND exists |
Cooperative Information#
The Cooperative Information subsection displays when the property is a cooperative and there is blanket financing.
- Condominium Cooperative Condop - ProjectLegalStructureType (UID: 2500.0168, FID: 18.002) = "Cooperative" AND ProjectBlanketFinancingIndicator (UID: 2500.0074, FID: 18.026) = "true"
Project Information: Cooperative Information
| Report Field ID | Report Label | Unique ID | MISMO Data Point Name | Display Rules |
|---|---|---|---|---|
| 18.023 | Shares Issued and Outstanding | 2500.0075 | ProjectTotalSharesIssuedAndOutstandingCount | Display when ProjectLegalStructureType = "Cooperative" OR "Condop" |
| 18.024 | Shares Attributable to Subject Property | 2500.0024 | PropertyCooperativeSharesCount | Display when ProjectLegalStructureType = "Cooperative" OR "Condop" |
| 18.025 | Proprietary Lease Expires | 2500.0023 | CooperativeProprietaryLeaseExpirationDate | Display when ProjectLegalStructureType = "Cooperative" OR "Condop" |
| 18.026 | Project Blanket Financing | 2500.0074 | ProjectBlanketFinancingIndicator | Checkbox always displays. When "false" do not display Pro Rata Share or the Project Blanket Financing table. |
| 18.027 | Pro Rata Share | 2500.0025 | ProRataSharePercent | Display with "%", do not display when ProjectBlanketFinancingIndicator = "false" Calculated: PropertyCooperativeSharesCount divided by ProjectTotalSharesIssuedAndOutstandingCount |
The Project Blanket Financing table displays only when ProjectBlanketFinancingIndicator = "true".
Project Information: Cooperative Information (Project Blanket Financing)
| Report Field ID | Report Label | Unique ID | MISMO Data Point Name | Display Rules |
|---|---|---|---|---|
| 18.028 18.037 18.046 18.055 | First Lien Second Lien Third Lien Fourth Lien |
2500.0039 | LienPriorityType | Display as column headers in bold font (First Lien, Second Lien, Third Lien, Fourth Lien). Table is dynamic. Only display as many columns as there are Liens. |
| 18.029 18.038 18.047 18.056 |
Unpaid Principal Balance | 2500.0046 | UPBAmount | Display for each LienPriorityType when LineOfCreditIndicator (UID: 2500.0151, FID: Not on report) = "false" |
| 18.033 18.039 18.048 18.057 |
Line of Credit | 2500.0155 | LineOfCreditDrawnAmount | Display when LineOfCreditIndicator = "true" Display as "Maximum:" and amount and "Drawn:" and amount (each on a separate line within the cell). (Figure 18 - 2) |
| 2500.0153 | LineOfCreditMaximumAmount | |||
| 18.031 18.040 18.049 18.058 | Balloon Mortgage | 2500.0036 | BalloonIndicator | Display for each LienPriorityType |
| 18.032 18.041 18.050 18.059 | Remaining Term | 2500.0041 | LoanRemainingMaturityTermMonthsCount | For each LienPriorityType display count with text "months" |
| 18.033 18.042 18.051 18.060 | Monthly Payment | 2500.0042 | PaymentAmountAvailableIndicator | For each LienPriorityType, when PaymentAmountAvailableIndicator = "true" display TotalPaymentAmount, when "false", display "Unknown". |
| 2500.0045 | TotalPaymentAmount | |||
| 18.034 18.043 18.052 18.061 | Interest Rate | 2500.0037 | CurrentInterestRatePercent | For each LienPriorityType, when InterestRateAvailableIndicator = "true" display CurrentInterestRatePercent, when "false" display "Unknown" |
| 2500.0038 | InterestRateAvailableIndicator | |||
| 18.035 18.044 18.053 18.062 | Amortization Type | 2500.0034 | AmortizationType | Display for each LienPriorityType |
| 18.036 18.045 18.054 18.063 | Pro Rata Share of Balance Attributable to Unit | 2500.0154 | LineOfCreditDrawnProRataShareAttributableToUnitAmount | Display for each LienPriorityType, when LineOfCreditIndicator = "true" − Display as "Drawn:" followed by the amount (each on a separate line within the cell). (Figure 18 - 2) − Calculated: ProRataSharePercent * LineOfCreditDrawnAmount |
| 2500.0152 | LineOfCreditMaximumProRataShareAttributableToUnitAmount | Display for each LienPriorityType, when LineOfCreditIndicator = "true" − Display as "Maximum:" followed by the amount (each on a separate line within the cell). (Figure 18 - 2) − Calculated: ProRataSharePercent * LineOfCreditMaximumAmount |
||
| 2500.0044 | UPBProRataShareAttributableToUnitAmount | Display for each LienPriorityType, when LineOfCreditIndicator = "false" − Calculated: ProRataSharePercent * UPBAmount (for each lien) |
Figure 18 - 2
Project Factors and Impact to Value/Marketability#
The Project Factors and Impact to Value/Marketability table provides information about the units within the project. The appearance of the table varies based on the details of the property being appraised.
.
The Project Factors and Impact to Value/Marketability table displays when either PropertyInProjectIndicator = "true" OR PUDIndicator = "true".
Both Impact - ValueMarketabilityImpactType and Comment - ValuationCommentText require ValuationAnalysisCategoryType to be specified. (Figure 18 - 3)
Figure 18 - 3
Project Information: Project Factors and Impact to Value/Marketability
| Report Field ID | Report Label | Unique ID | MISMO Data Point Name | Display Rules |
|---|---|---|---|---|
| Project Factor: Developer/Sponsor in Control | Display when PropertyInProjectIndicator = "true" OR PUDIndicator = "true" | |||
| 18.064 | Detail | 2500.0067 | ProjectDeveloperOrSponsorControlsProjectManagementIndicator | When "true" display "Yes" When "false" display "No" |
| 18.074 | Impact | 2500.0144 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0142, FID: Not on report) = "ProjectDeveloperOrSponsorControlsProjectManagement" |
| 18.084 | Comment | 2500.0143 | ValuationCommentText | Display when (ValueMarketabilityImpactType = "Adverse" OR "Beneficial") OR (ValueMarketabilityImpactType = "Neutral" AND Exists)) OR (ProjectDeveloperOrSponsorControlsProjectManagementIndicator = "false" AND Exists) |
| Project Factor: Incomplete Project | Display when PropertyInProjectIndicator = "true" AND ProjectCompletedIndicator (UID: 2500.0058, FID: Not on report) = "false" | |||
| 18.065 | Detail | 2500.0071 | ProjectComponentCategoryType | When multiple items are not complete, display in same row separated by "|" |
| 18.075 | Impact | 2500.0141 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0139, FID: Not on report) = "IncompleteProject" |
| 18.085 | Comment | 2500.0140 | ValuationCommentText | Display comment |
| Project Factor: Converted in Past 3 Years | Display when PropertyInProjectIndicator = "true" AND ProjectConversionIndicator = "true" | |||
| 18.066 | Detail | 2500.0049 | ProjectConversionOriginalUseType | Display when PropertyInProjectIndicator = "true" AND ProjectConversionIndicator = "true". Display "Prior Use:" and value. |
| 18.076 | Impact | 2500.0138 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0136, FID: Not on report) = "ProjectConversion" |
| 18.086 | Comment | 2500.0137 | ValuationCommentText | Display comment |
| Project Factor: Single Entity Ownership of Multiple Units (Figure 18 - 4) | Display when ProjectLegalStructureType = "Condominium" | |||
| 18.067 | Detail | 2500.0078 | SingleEntityGreatestNumberOfUnitsCount | Display when ProjectLegalStructureType = "Condominium". Display "Greatest Number of Units Owned-" and value. Cannot be 0. |
| 18.077 | Impact | 2500.0135 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0133, FID: Not on report) = "SingleEntityGreatestNumberOfUnitsOwned" |
| 18.087 | Comment | 2500.0134 | ValuationCommentText | Display when ((ValueMarketabilityImpactType = "Adverse" OR "Beneficial") OR (ValueMarketabilityImpactType = "Neutral" AND Exists)) |
| Project Factor: Single Entity Ownership of Multiple Shares | Display when ProjectLegalStructureType = "Cooperative" OR "Condop" | |||
| 18.068 | Detail | 2500.0076 | SingleEntityGreatestNumberOfSharesCount | Display "Greatest Number of Shares Owned-" and value. Cannot be 0. |
| 18.078 | Impact | 2500.0132 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0130, FID: Not on report) = "SingleEntityGreatestNumberOfSharesOwned" |
| 18.088 | Comment | 2500.0131 | ValuationCommentText | Display when ((ValueMarketabilityImpactType = "Adverse" OR "Beneficial") OR (ValueMarketabilityImpactType = "Neutral" AND Exists)) |
| Project Factor: Commercial Space | Display when PropertyInProjectIndicator = "true" | |||
| 18.069 | Detail | 2500.0055 | ProjectCommercialSpaceIndicator | When false, display "None", when "true" do not display |
| 2500.0057 | ProjectCommercialSpacePercent | Display ProjectCommercialSpaceIndicator = "true" − Number displays followed by "%" |
||
| 18.079 | Impact | 2500.0129 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0127, FID: Not on report) = "ProjectCommercialSpace" |
| 18.089 | Comment | 2500.0128 | ValuationCommentText | Display when ((ValueMarketabilityImpactType = "Adverse" OR "Beneficial") OR (ValueMarketabilityImpactType = "Neutral" AND Exists)) OR Exists |
| Project Factor: Known Legal Actions | Display when PropertyInProjectIndicator = "true" OR PUDIndicator = "true" | |||
| 18.070 | Detail | 2500.0051 | LegalActionIndicator | If false, display "None", when true display "Yes". |
| 18.080 | Impact | 2500.0126 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0124, FID: Not on report) = "ProjectLegalAction" |
| 18.090 | Comment | 2500.0125 | ValuationCommentText | Display when ((LegalActionIndicator = "true") OR (LegalActionIndicator = "false" AND Exists)) |
| Project Factor: Unit Transfer Fees | Display when PropertyInProjectIndicator = "true" | |||
| 18.071 | Detail | 2500.0019 | OwnershipTransferFeeIndicator | If false, display "None", when "true" do not display. |
| 2500.0017 | AssociationChargeAmount | Display when OwnershipTransferFeeIndicator = "true" | ||
| 18.081 | Impact | 2500.0147 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0145, FID: Not on report) = "TransferFeeAttributedToSubjectProperty" |
| 18.091 | Comment | 2500.0146 | ValuationCommentText | Display when ((OwnershipTransferFeeIndicator = "true") OR (OwnershipTransferFeeIndicator = "false" AND Exists)) |
| Project Factor: Unit Special Assessments | Display when PropertyInProjectIndicator = "true" OR PUDIndicator = "true" | |||
| 18.072 | Detail | 2500.0163 | AssociationSpecialAssessmentStatusType | Display when AssociationChargeType = "AssociationSpecialAssessment" − When "Existing" or "Proposed", display on the same line with the associated $ amount if applicable. − When both Existing and Proposed, display as stacked. |
| 2500.0013 | AssociationChargeBalanceAmount | Display when (AssociationChargeType (UID: 2500.0012, FID: Not on report) = "AssociationSpecialAssessment" AND AssociationSpecialAssessmentStatusType = "Existing") OR (AssociationChargeType = "AssociationSpecialAssessment" AND AssociationSpecialAssessmentStatusType = "Proposed" AND Exists) − Can be 0 |
||
| 18.082 | Impact | 2500.0123 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0121, FID: Not on report) = "ProjectSpecialAssessmentsAttributedToSubjectProperty" |
| 18.092 | Comment | 2500.0122 | ValuationCommentText | Display when ((AssociationSpecialAssessmentStatusType <> "None") OR (AssociationSpecialAssessmentStatusType = "None" AND Exists)) |
| Project Factor: Unit Tax Abatements or Exemptions | Display when PropertyInProjectIndicator = "true" OR PUDIndicator = "true" | |||
| 18.073 | Detail | 2500.0081 | PropertyTaxAbatementsOrExemptionsIndicator | If false, display "None". When "true" do not display. |
| 2500.0082 | TaxAbatementsOrExemptionsAnnualAmount | Display when PropertyTaxAbatementsOrExemptionsIndicator = "true" AND Exists − Amount displays followed by "per year" |
||
| 2500.0084 | TaxAbatementsOrExemptionsExpirationDate | Display when PropertyTaxAbatementsOrExemptionsIndicator = "true" AND Exists − "Expires" displays followed by the date |
||
| 18.083 | Impact | 2500.0120 | ValueMarketabilityImpactType | Display when ValuationAnalysisCategoryType (UID: 2500.0119, FID: Not on report) = "PropertyTaxAbatementsOrExemptions" |
| 18.093 | Comment | 2500.0108 | ValuationCommentText | Display when PropertyTaxAbatementsOrExemptionsIndicator = "true" AND ((ValueMarketabilityImpactType = "Adverse" OR "Beneficial")OR (ValueMarketabilityImpactType = "Neutral" AND Exists) OR |
| (PropertyTaxAbatementsOrExemptionsIndicator = "false" AND Exists)) | ||||
| Project Factors Commentary | Display when PropertyInProjectIndicator = "true" OR PUDIndicator = "true" AND Exists | |||
| 18.094 | Project Factors Commentary | 2500.0169 | ValuationAnalysisCategoryType | IF (PropertyInProjectIndicator = "true" OR PUDIndicator = "true") AND Exists |
| 2500.0170 | ValuationCommentText | Display when ValuationAnalysisCategoryType (UID: 2500.0169, FID: Not on report) = "ProjectFactors" AND Exists |
Figure 18 - 4
Project Information Commentary#
The Project Information Commentary subsection displays when comments are provided. Any additional commentary must use ValuationAnalysisCategoryType (UID: 2500.0169, FID: 18.095) = "Project" and ValuationCommentText (UID: 2500.0170, FID: 18.095).
Project Information Exhibits#
The Project Information Exhibits subsection displays only when images are provided. All text must display above the image in bold font.
Common Amenities/Services#
- Images provided for Common Amenities/Services must be delivered using ImageCategoryType (UID: 1400.0638, FID: 18.012.1) = "ProjectAmenity".
- An image caption should be included using ImageCaptionCommentDescription (UID: 1400.0640, FID: 18.012.2).
- The text "Common Amenity or Service " must display above the image followed by the image caption.
Observed Deficiencies#
- Images Provided for Observed Deficiencies must be delivered using ImageCategoryType (UID: 1400.0638, FID: 18.014.1) = "ProjectDeficiency".
- An image caption should be included using ImageCaptionCommentDescription (UID: 1400.0640, FID: 18.014.2).
- The text "Observed Deficiency" must display above the image followed by the image caption.
Additional Exhibits#
- Any additional images provided must be delivered using ImageCategoryType (UID: 1400.0638, FID: 18.098.1) = "ProjectExhibit".
- An image caption should be included using ImageCaptionCommentDescription (UID: 1400.0640, FID: 18.098.2).
Reference Key Concept - Image Data for detailed guidance on the various ways images are handled in the URAR.
Project Information - Arcrole Relationships#
Arcrole relationships establish "relationships" or linkages in the XML data file that may be visually obvious on the URAR Report. In the XML data specific instances of data points or containers must be connected to properly represent the information.
- Containers or datapoints to be linked are identified using "xlink:label."
- The RELATIONSHIP container holds the xlink:arcrole, xlink:from, and xlink:to attributes that describe the data relationships.
DATA_SOURCE to PROJECT#
Overall Project Data Source. When the data source is associated with a subject property, provide the relationship that joins to the applicable instance of PROJECT where the ValuationUseType = "SubjectProperty".
| Unique ID | Parent Container | MISMO Attribute Name | Supported Attribute Enumerations |
|---|---|---|---|
| 2500.0165 | RELATIONSHIP | @xlink:arcrole | urn:fdc:mismo.org:2009:residential/DATA_SOURCE_IsDataSourceFor_PROJECT |
| 2500.0166 | RELATIONSHIP | @xlink:from | DATA_SOURCE_n |
| 2500.0167 | RELATIONSHIP | @xlink:to | PROJECT_n |
| 2500.0164 | PROJECT | @xlink:label | PROJECT_n |
| 0700.0124 | DATA_SOURCE | @xlink:label | DATA_SOURCE_n |