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EXHIBIT 1 <br />Upon the PHA's HOTMA 102/104 compliance date, the following section on the asset <br />limitation is added. The asset limitation does not apply until the PHA's HOTMA <br />compliance date. <br />3-III.C. RESTRICTION ON ASSISTANCE BASED ON ASSETS [24 CFR 5.6181 <br />There are two circumstances under which a family is ineligible to receive assistance based on <br />asset ownership. <br />First, assistance may not be provided to any family if the family's net assets exceed the HUD - <br />published asset limitation amount (adjusted annually by HUD). <br />• This amount is listed in HUD's current year Inflation -Adjusted Values tables <br />• $100,000 for 2024, $103,200 for 2025 <br />Second, the family has real property that is suitable for occupancy by the family as a residence <br />and the family has: <br />• A present ownership interest in the real property; and <br />• A legal right to reside in the real property; and <br />• The effective legal authority to sell (based on state or local laws of the jurisdiction where the <br />property is located) the real property. <br />The PHA does not have the discretion not to enforce or provide limited enforcement of the asset <br />limitation at admission. However, the real property restriction does not apply in the following <br />circumstances: <br />• Any property for which the family is receiving assistance for a manufactured home under 24 <br />CFR 982.620 or under the HCV Homeownership program; <br />• Any property that is jointly owned by a member of the family and at least one non -household <br />member who does not live with the family, if the non -household member resides at the <br />jointly owned property; <br />• Any family that is offering the property for sale; or <br />• Any person who is a victim of domestic violence, dating violence, sexual assault, or stalking. <br />When a family asks for an exception because a family member is a victim of domestic <br />violence, dating violence, sexual assault, or stalking, the PHA must comply with all the <br />confidentiality requirements under VAWA. The PHA must accept a self -certification <br />from the family member, and the restrictions on requesting documentation under <br />VAWA apply. <br />Page 3-24 Administrative Plan 7/l/2025 <br />City Council 5 —113 7/15/2025 <br />