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 Developer's Certificate
• 40B Examination Program (for Developer's CPA)
• 40B General Contractor's Certificate
• 40B Independent Accountant's Report (Form for Developer's CPA)
• Preparation of Cost Certification upon Completion of Homeownership 40B Project for which MassHousing Serves as Project Administrator: Guidance to Developers and Municipalities
• 40B Schedules
• CPA Prequalification List

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.

• 40B Cost Certification Guidance (No Tax Credits)
• Attachments A-C: Cost Certification Spreadsheet (Non Tax Credit Projects)
• Attachment D: Owners Certificate
• Attachment E: Architect Certification (with RS Means Instructions)
• Exhibit 1 to Attachment E: RS Means Cost Analysis Report Form
• Attachment F: Release for CPA to Share Information
• Attachment G: General Contractor's Certificate
• Attachment H: Form of Independent Accountant's Report

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.

• 40B Cost Certification Guidance (with Tax Credits)
• Attachments A-C: Cost Certification Spreadsheet (Tax Credit Projects)
• Attachment D: Owners Certificate
• Attachment E: Architect Certification (with RS Means Instructions)
• Exhibit 1 to Attachment E: RS Means Cost Analysis Report Form
• Attachment F: Release for CPA to Share Information
• Attachment G: General Contractor's Certificate
• Attachment H: Form of Independent Accountant's Report