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Child Care Assistance Program Policy Manual Issued 07/2023 Calculating countable assets 4.12.6 Count the trade-in value of any vehicle counted toward the $1 million asset limit. The trade-in value is the Average Trade-In value listed in the current NADA online car values and car prices guide. If the car is not listed in the current NADA online guide or the applicant or participant disputes the trade-in value listed in the current NADA online guide, a written statement of a vehicle's trade-in value from a vehicle dealer licensed in Minnesota must be accepted. Real property The following real property (real estate) is not counted: • Property that the family lives on • Real property that is homesteaded • Property used for self-employment or self-support (including equipment, land or buildings used for self- employment). CCAP counts the value of all other real property toward the $1 million asset limit. This may include houses, buildings or land. Other information CCAP policies for asset evaluation are aligned with asset evaluation policies for MFIP in Combined Manual (CM) §0015, except the following: • The CCAP asset limit is $1 million. • The value of sponsors’ assets is not counted for non-citizens applying for or receiving CCAP. No information about sponsors’ assets is needed for CCAP. Legal authority The Child Care Development Block Grant Act of 2014, Public Law Number 113-186 Federal Child Care and Development Fund, 45 C.F.R. § 98.20 Minnesota Statues 256P.02, subds. 1(a) and 2