1 / 12

Asset Management for Public Housing

Asset Management for Public Housing. Outline Discussion August 15, 2007. History and Background. 1998: Quality Housing and Work Responsibility Act 1999: Negotiated-Rulemaking I, Funding of Harvard Cost Study 2003: Cost Study Completed 2004: Negotiated-Rulemaking II

aveline
Télécharger la présentation

Asset Management for Public Housing

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Asset Management for Public Housing Outline Discussion August 15, 2007

  2. History and Background • 1998: Quality Housing and Work Responsibility Act • 1999: Negotiated-Rulemaking I, Funding of Harvard Cost Study • 2003: Cost Study Completed • 2004: Negotiated-Rulemaking II • 2005: Final Rule on Operating Fund Program • Provides a new formula for distributing operating subsidy to PHAs • Establishes requirements for PHAs to convert to asset management • 2007: PIH Notice 2007-9 (Financial Reporting Requirements)

  3. Operating Fund Rule (24 CFR 990): Key Themes • “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.” • “…property-management services [must be] tailored to the unique needs of each property, given the resources available to that property. “ • “…property management services are arranged, coordinated, or overseen by management personnel who have been assigned responsibility for the day-to-day operation of that property and who are charged with direct oversight of operations of that property.” • “The arrangement of property management services must be done in the best interests of the property, considering such factors as cost and responsiveness.”

  4. Suppose… You own a group of restaurants. • Would you hire a manager for each restaurant? • Would you establish a budget for that restaurant? • Would you assign significant responsibility for the day-to-day operation of that restaurant to the on-site manager? • Would you monitor the individual performance of each restaurant in your portfolio, including financial performance?

  5. Project-based Performance assessment Project-based management Project-based accounting Project-based budgeting Project-based funding Initial Priorities/Building Blocks • Project-based funding • Project-based budgeting • Project-based accounting • Project-based management • Project-based performance assessment

  6. Initial Priorities/Building Blocks, cont’d Project-based funding • Separate subsidy form for each project • Project Expense Level (PEL) is a major component Project-based funding

  7. Initial Priorities/Building Blocks, cont’d Project-based budgeting • Must be approved by PHA Board • Not subject to HUD approval • Used for planning purposes Project-based budgeting Project-based funding

  8. Initial Priorities/Building Blocks, cont’d Project-based accounting • Year-end project statements submitted to HUD • Can only charge projects for services actually received • Fees must be considered reasonable Project-based accounting Project-based budgeting Project-based funding

  9. Project-based management Project-based accounting Project-based budgeting Project-based funding Initial Priorities/Building Blocks, cont’d Project-based management • Arrange property management services in the best interest of the project • Assign management personnel to each project

  10. Initial Priorities/Building Blocks, cont’d Project-based performance assessment • PHAS will be revised to emphasize project-based monitoring • Each project will be evaluated on financial, managerial, and physical condition Project-based performance assessment Project-based management Project-based accounting Project-based budgeting Project-based funding

  11. Note • Asset management doesn’t change the mission of public housing. Rather, it is intended to improve the business processes, consistent with the norms in private/multifamily housing.

  12. Helpful Resources The following documents, and other related materials, can be found on the Asset Management Website at http://www.hud.gov/offices/pih/programs/ph/am • Preparing for Asset Management Under the New Public Housing Operating Fund Rule (24 CFR 990): A Planning Document • Demonstrating Successful Conversion to Asset Management: A Site Visit to the Charlotte Housing Authority • Asset Management Newsletter, Issue 02, March 2007, Special Issue on Administrative Reform

More Related