To assure the validity of its cost comparisons for Multifamily Housing Program projects, HCD should update the program's historical cost spreadsheet either by including projects it approved after 2008 or by adjusting the tool's data to current values.
DFA has updated the historical development cost spreadsheet on 9/23/2014 adding the most recent committee approved project development costs (see Attachment AF2a). The information has been posted on the HCD/MHP website (Attachment AF2b).
DFA staff are currently updating the historical cost spreadsheet. The spreadsheet will be updated annually.
Agency responses received are posted verbatim.