HUD Reassessment Procedures for Multifamily Housing Projects During the Approval Process and Construction Phase

GAO conducted a study in response to a congressional request to determine: (1) whether Department of Housing and Urban Development (HUD) procedures to reassess its commitment to projects when changes such as increased construction costs and high interest rates make their financial outlook questionable were followed in approving the Park Crestwood project in Crestwood, Missouri; (2) HUD procedures to obtain comments from local jurisdictions on proposed projects; and (3) what comments were obtained from local jurisdictions on the Park Crestwood project.