Minority Business Enterprise (MBE). 1. A business, regardless of size, which is owned, operated and controlled by minority group members. "Minority group members" are individuals who are citizens of the United States and are African-American, Hispanic-American, Native-American, Asian-American, or any other individuals defined as a minority by the Small Business Administration. 2. Ownership by minority individuals means that the business is not less than fifty one percent (51%) owned by one or more such individuals or in the case of a publicly owned business not less than fifty one percent (51%) of the stock, and those minority group members control the management and are involved in the daily operations of the business with such business providing proof in writing of the appropriate ownership to the Developer in the form of certain specified corporate documents as required by the Developer. 3. Minority businesses shall include all contractors, subcontractors, and service providers related to any and all infrastructure, residential, and commercial construction. Qualifying businesses shall further include those related to land improvements and the maintenance of said land improvements.
Appears in 4 contracts
Samples: Development Agreement, Development Agreement, Development Agreement
