Section 3 business concern definition

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

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—

Examples of Section 3 business concern in a sentence

• The undersigned bidder/proposer hereby certifies that it is a Section 3 business concern and attaches relevant documentation, as applicable, to support such claim.Select only one option.

• A) Where the Section 3 covered contract is to be awarded based upon the lowest price, the contract shall be awarded to the qualified Section 3 business concern with the lowest responsive quotation, if it is reasonable and no more than 10 percent higher than the quotation of the lowest responsive quotation from any qualified source, the award shall be made to the source with the lowest quotation.

• As a part of joint venture, Section 3 business concern must be:1.

• If you are claiming preference as a Section 3 business concern, your Section 3 Compliance Plan must include an explanation for your claim to be a Section 3 business concern along with proof of your firm’s eligibility for preference as a Section 3 business concern.

• It is the Responder’s responsibility to provide proof that such firms meet the definition of Section 3 business concern as established by HUD.

More Definitions of Section 3 business concern

Section 3 business concern means a business concern, as defined in this section—

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 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: 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 concern that is either 51% or more owned by Section 3 residents; or a business concern whose permanent, full-time employees include persons, at least 30% of whom (1) are currently Section 3 residents; or (2) were Section 3 residents at the time when the business concern initially employed them, provided the date of initial employment is not more than three years ago; or (3) that commits to subcontract in excess of 25% of the dollar amount of all subcontracts to be awarded in connection with the Contract to Section 3 business concerns as defined in a. and b. hereinabove.