Section 3 business concern definition

Section 3 business concern means a business concern meeting at least one of the following criteria, documented within the last six-month period:

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Section 3 business concern means a business concern that meets either one of the following descriptions:

Section 3 business concern means a business concern—

Examples of Section 3 business concern in a sentence

Section 3 Businesses are defined as businesses: 1) that are at least 51% owned by Section 3 Residents; 2) whose permanent, full-time employees include persons, at least 30 percent of whom are currently Section 3 residents, or within three years of the date of first employment with the business concern were Section 3 residents; or 3) that provide evidence of a commitment to subcontract in excess of 25 % of the dollar award of all subcontract to be awarded to a Section 3 business concern.
The bid process must allow for preference to a certified Section 3 business concern.
Insert program jurisdiction will provide certification for individuals and business concerns seeking recognition as a Section 3 resident or Section 3 business concern as defined in this Section 3 Plan.
A business concern seeking to qualify for a Section 3 contracting preference shall certify that the business concern is a Section 3 business concern as described above.
In addition to the form Section 3 Recipient Compliance the following documents will be required to substantiate Section 3 business concern preference.

More Definitions of Section 3 business concern

Section 3 business concern means a business concern as defined in 24 CFR 75.5, as may be amended from time to time, and means a business concern meeting at least one of the following criteria, as documented within the last six-month period through self-certification or other means acceptable HUD:

Section 3 business concern means a business concern meeting at least one of the following criteria, documented within the last six‐month period:

Section 3 business concern means a business concern meeting at least one of the following

Section 3 business concern means a business: i. That is 51 percent (51%) or more owned by Section 3 residents; or ii. Whose permanent, full-time employees include persons, at least 30 percent (30%) of whom are currently Section 3 residents, or within three years of the date of their first employment with the business were Section 3 residents; or iii. That provides evidence of a commitment to subcontract in excess of 25 percent (25%) of the dollar award of all subcontracts to be awarded by the business under the proposed contract to Section 3 businesses as defined in a. and

Section 3 business concern. – Section 3 business concern means a business concern, as defined in this section— (1) That is 51 percent or more owned by Section 3 residents; or (2) Whose permanent, full-time employees include persons, at least 30 percent of whom are currently Section 3 residents, or within three years of the date of first employment with the business concern were Section 3 residents; or

Section 3 business concern means a business entity authorized to engage in the type of business activity for which it was formed, and which satisfies one or more of the following criteria: (i) at least fifty-one (51) percent of the business is owned by one or more Section 3 Residents; (ii) at least thirty (30) percent of its permanent, full-time employees include persons who are currently Section 3 Residents, or were Section 3 Residents within three (3) years of the date such persons were first employed with the business; or (iii) a business that provides HACLA sufficient evidence of its commitment to subcontract more than twenty-five (25) percent of the dollar award of all subcontracts awarded under a Section 3 Covered Contract to Section 3 Business Concerns.

Section 3 business concern means a business concern that meets either one of the following descriptions: a. that is 51% or more owned by Section 3 Residents; or b. whose permanent, full-time employees include persons, at least 30% of whom are currently Section 3 Residents, or who, within three years of the date of first employment with the business concern, were Section 3 Residents; or c. That provides evidence of a commitment to subcontract in excess of 25% of the dollar award of all subcontracts to be awarded to business concerns that meet the qualifications set forth in paragraphs (a) and (b) in this definition of "Section 3 Business Concern."