---
kind: "section"
citation: "24 C.F.R. § 990.290"
title: "24"
number: "990.290"
heading: "Compliance with asset management requirements."
url: "https://uscodex.org/cfr/24/990.290"
---

# §990.290. Compliance with asset management requirements.

- (a) A PHA is considered in compliance with asset management requirements if it can demonstrate substantially, as described in [paragraph (b)](#b) of this section, that it is managing according to this subpart.
- (b) Demonstration of compliance with asset management will be based on an independent assessment.
  - (1) The assessment is to be conducted by a professional familiar with property management practices and costs in the region or state in which the PHA is located. This professional is to be procured by HUD.
  - (2) The professional review and recommendation will then be forwarded to the Assistant Secretary for Public and Indian Housing (or designee) for final determination of compliance to asset management.
- (c) Upon HUD's determination of successful compliance with asset management, PHAs will then be funded based on this information pursuant to [§ 990.165(i)](/cfr/24/990.165.md?p=i).
- (d) PHAs must be in compliance with the project-based accounting and budgeting requirements in this subpart by FY 2007. PHAs must be in compliance with the remainder of the components of asset management by FY 2011.

## Notes

### Authority

Authority: 42 U.S.C. 1437g; 42 U.S.C. 3535(d).

### Source

Source: 70 FR 54997, Sept. 19, 2005, unless otherwise noted.