Common use of Economic Disadvantage Clause in Contracts

Economic Disadvantage. (1) The individual's ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities, as compared to others in the same line of business and competitive market area that are not socially disadvantaged. (2) The following criteria will be considered when determining the degree of diminished credit and capital opportunities of a person claiming social and economic disadvantage: With respect to the individual: • availability of financing • bonding capability • availability of outside equity capital • available markets With respect to the individual and the business concern: • personal and business assets • personal and business net worth • personal and business income and profits (5) Race-Neutral DBE Submission and Ongoing Reporting Requirements (Post- Award). Manager shall complete and submit the following DBE exhibits (forms) at the times specified: "Monthly Race-Neutral DBE Subcontractors Paid Report Summary and Payment Verification" (Form 103). If Manager is a DBE firm and/or has proposed to utilize DBE firms, Manager will be required to complete and submit a Form 103 to City by the 5th of each month until completion of the Agreement to facilitate reporting of race-neutral DBE participation, following the first month of activity under the Agreement. Manager shall report the total dollar value paid to DBEs for the applicable reporting period. Manager shall also report the DBE's scope of work and the total subcontract value of commitment for each DBE reported. Manager is advised not to report the participation of DBEs toward Manager’s race-neutral DBE attainment until the amount being counted has been paid to the DBE. On an annual basis, Manager will be required to prepare and submit to City a "Race-Neutral DBE Subcontractors Paid Report Summary and Payment Verification" (Form 103) clearly marked "Final" to facilitate reporting and capturing actual DBE race-neutral attainments. Manager shall complete and submit a Final Form 103 whether or not DBEs were utilized in the performance of the Agreement.