Chapter 40B Post-Construction

40B Cost Certification

Under the 40B Guidelines, a developer is required to submit a cost certification examined by an independent certified public accountant ("CPA") and conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the "Cost Examination"). Please note that the CPA must be chosen from the CPA Prequalification List maintained by the Department of Housing and Community Development ("DHCD").

The cost certification instructions and materials to be used by the developer and CPA for homeownership and rental projects are below.

40B Cost Certification Materials – Homeownership Projects

40B Cost Certification Materials – Rental Projects

Non-tax credit projects

The following cost certification materials are for projects not using tax credits and that applied for a Project Eligibility Letter (“PEL”) on or after March 16, 2016. If your project applied for its PEL prior to March 16, 2016, please contact MassHousing at 40BSupport@masshousing.com.

These documents are used by all state housing agencies in Massachusetts who are serving as subsidizing agencies for 40B rental projects, including the Massachusetts Department of Housing and Community Development, MassHousing, MassDevelopment and the Massachusetts Housing Partnership.

Open the "40B Cost Certification Guidance (No Tax Credits)" document first. This guidance gives a developer and their team members a step-by-step explanation of how to complete the cost certification materials.

Tax credit projects

The following cost certification materials are for projects using tax credits and that applied for a Project Eligibility Letter ("PEL") on or after March 16, 2016. If your project applied for its PEL prior to March 16, 2016, please contact MassHousing at 40BSupport@masshousing.com.

These documents are used by all state housing agencies in Massachusetts who are serving as subsidizing agencies for 40B rental projects, including the Massachusetts Department of Housing and Community Development, MassHousing, MassDevelopment and the Massachusetts Housing Partnership.

Open the 40B Cost Certification Guidance (with Tax Credits)" document first. This guidance gives a developer and their team members a step-by-step explanation of how to complete the cost certification materials.

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40B Compliance Monitoring: Rental

The link below provides a sample 40B compliance monitoring spreadsheet for owners and management agents related to the annual affordability compliance monitoring process. Questions related to this spreadsheet and the compliance monitoring process should be directed to 40BRentalCompliance@masshousing.com.

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40B Affordability Monitoring: Homeownership

The links provide below guidance and sample materials for third-party Affordability Monitoring Agents for 40B homeownership projects for which MassHousing serves as the Subsidizing Agency.

40B Affordability Monitoring Resources

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40B Homeownership Documents

The documents below provide guidance and sample materials related to the ongoing affordability requirements placed on affordable 40B Homeownership units. Translated documents are available for informational purposes only. The English version of each document is considered the legally binding document.