[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR990.255]



[Page 723]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 990_THE PUBLIC HOUSING OPERATING FUND PROGRAM--Table of Contents

 

                       Subpart H_Asset Management

 

Sec.  990.255  Overview.





    (a) PHAs shall manage their properties according to an asset 

management model, consistent with the management norms in the broader 

multi-family management industry. PHAs shall also implement project-

based management, project-based budgeting, and project-based accounting, 

which are essential components of asset management. The goals of asset 

management are to:

    (1) Improve the operational efficiency and effectiveness of managing 

public housing assets;

    (2) Better preserve and protect each asset;

    (3) Provide appropriate mechanisms for monitoring performance at the 

property level; and

    (4) Facilitate future investment and reinvestment in public housing 

by public and private sector entities.

    (b) HUD recognizes that appropriate changes in its regulatory and 

monitoring programs may be needed to support PHAs to undertake the goals 

identified in paragraph (a) of this section.