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Q&A
HPD's role in wage assumptions and project underwriting
0:36:52
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71 sec
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Council Member De La Rosa inquires about HPD's assumptions regarding wages and fringe benefits for construction workers during the underwriting process for affordable housing projects. Lucy Joffe explains HPD's approach to understanding wage structures and market conditions.
- HPD's limited access to detailed wage and benefit breakdowns is discussed.
- The variation in how wages and fringe benefits are represented in different projects is explained.
- HPD's efforts to understand current market conditions and expected wages for lowest-paid workers are highlighted.