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DEFINITION OF A SECTION 3 BUSINESS CONCERN
A business that is owned (51% or more) by Section 3 residents, or
Whose permanent, full time employees include persons, at least 30% of whom are current
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How to fill out section 3 - hudgov
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01
To fill out section 3 - hudgov, follow these steps:
02
Begin by completing the basic information such as your name, address, and contact details.
03
Provide details about the property or project you are involved in, including the location and type of assistance requested.
04
Answer the questions in section 3 thoroughly and accurately. This section is designed to gather information about the specific needs and requirements of the property/project.
05
Review the completed form to ensure all information is correct and legible.
06
Sign and date the form to certify its accuracy.
07
Submit the form to the relevant authority or organization as instructed.
Who needs section 3 - hudgov?
01
Section 3 - hudgov is typically required by individuals or organizations seeking financial assistance or involvement in housing or community development projects funded or regulated by the Department of Housing and Urban Development (HUD). This section helps gather crucial information about the specific needs and requirements of the property/project, ensuring that the assistance provided aligns with the goals and objectives of HUD.
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What is section 3 - hudgov?
Section 3 of the HUD Act of 1968 requires that employment and other economic opportunities generated by HUD financial assistance for housing and community development programs will be directed, to the greatest extent feasible, to low- and very low-income persons.
Who is required to file section 3 - hudgov?
Recipients of HUD financial assistance for housing and community development programs are required to file section 3 reports.
How to fill out section 3 - hudgov?
Section 3 reports can be filled out electronically through HUD's online reporting system.
What is the purpose of section 3 - hudgov?
The purpose of section 3 is to ensure that economic opportunities generated by HUD funding are directed towards low- and very low-income persons.
What information must be reported on section 3 - hudgov?
Information such as the number of low- and very low-income persons employed, the wages paid to them, and the types of training programs offered must be reported on section 3.
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