[Code of Federal Regulations]
[Title 24, Volume 4]
[Revised as of April 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR990.255]

[Page 721]
 
                 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.