The Market Analyst's definition of the PMA must include:

(i)     a detailed narrative explaining:

       (I)   how the boundaries of the PMA were determined;

      (II)   whether a more logical area exists within the PMA but is not definable by census tracts and how this subsection of the PMA supports the rationale for the defined PMA ;

     (III)   what are the attributes of the Development and its location in the PMA that would draw prospective tenants currently residing in the PMA to relocate to the Development;

      (IV)   the household and employment concentrations across the PMA and proximity to the Development ;

       (V)   that prospective tenants in the immediate local market area will be able to afford the pro forma rent;