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Our Normative Assumptions when Analyzing Markets:
• Public subsidy is scarce and it alone cannot create a market;
• Public subsidy must be used to leverage, or clear the path for, private investment;
• In distressed markets, invest into strength (e.g., major institutions, transportation hubs, environmental amenities) – “Build from Strength”;
• All parts of a city are customers of the services and resources that it has to offer;
• Decisions to invest and/or deploy governmental programs must be based on objectively gathered data and sound quantitative and qualitative analysis.
Preparing the MVA:
1. Take all of the data layers and geocode to Census block groups.
2. Inspect and validate those data layers.
3. Using a statistical cluster analysis, identify areas that share a common constellation of characteristics.
4. Map the result.
5. Visually inspect areas of the City for conformity with the statistical/spatial representation.
6. Re-solve and re-inspect until we achieve an accurate representation.
The Market Value Analysis is a comprehensive study of the residential real estate using data from 2009 through 2012, completed by the The Reinvestment Fund on behalf of The City of New Orleans and the New Orleans Redevelopment Authority.