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Cincinnati Metropolitan Housing Authority SECTION 3 BUSINESS CONCERN APPLICATION AND RENEWAL FORMER APPLICATIONRENEWAL APPLICATIONSection 3 is a provision of the Housing and Urban Development (HUD)

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How to fill out section 3 business concern

01

Begin by reading the instructions provided for filling out section 3 of the form.

02

Fill in your business name and address in the designated fields.

03

Provide information about the nature of your business, including the industry, products or services offered, and target market.

04

Include details about your business structure, such as whether it is a sole proprietorship, partnership, corporation, etc.

05

Indicate the number of employees in your business and whether it is a small business as defined by the Small Business Administration.

06

Answer any additional questions or provide any other requested information in section 3.

Who needs section 3 business concern?

01

Any individual or entity filling out the form that requires information about their business, such as potential lenders, investors, government agencies, or other stakeholders.

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What is section 3 business concern?

A Section 3 business concern is a business entity that meets certain criteria established under the U.S. Department of Housing and Urban Development regulations, aimed at providing economic opportunities for low- and moderate-income individuals through contracting opportunities.

Who is required to file section 3 business concern?

Businesses that meet the qualifications as a Section 3 business concern must file. This includes entities that are at least 51% owned by Section 3 residents or have a significant number of employees who are Section 3 residents.

How to fill out section 3 business concern?

To fill out a Section 3 business concern, entities must complete the required forms indicating their qualifications, including ownership details, employee demographics, and other pertinent information as specified by the HUD guidelines.

What is the purpose of section 3 business concern?

The purpose of Section 3 business concern regulations is to foster economic development and job opportunities for low-income individuals, ensuring that they receive benefits from federally funded projects.

What information must be reported on section 3 business concern?

Entities must report ownership structure, employee demographics, and how they plan to provide employment and contracting opportunities for low- and moderate-income individuals.

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