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REQUEST FOR PROPOSAL (RFP) No. RFP 102019UT, Gen.Maint/Vac. Unit PreperationSection 3 Business Preference Submittal Form (RFQ Attachment H) 1.02.0Introduction. This form must be fully completed, accompanied

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What is section 3 business preference?

Section 3 business preference is a provision aimed at giving certain business entities, specifically those owned and operated by low-income individuals and families, preferential access to government contracts and resources.

Who is required to file section 3 business preference?

Entities applying for federal assistance or contracts that meet the qualifications of a Section 3 business, which includes being owned by low-income individuals or particularly benefiting low-income communities, are required to file for Section 3 business preference.

How to fill out section 3 business preference?

To fill out Section 3 business preference, entities must complete a designated form available from their local housing authority or relevant agency, providing necessary information about business ownership, financial status, and evidence of compliance with Section 3 requirements.

What is the purpose of section 3 business preference?

The purpose of Section 3 business preference is to ensure that economic opportunities generated by federal funding and contracts are directed towards low-income individuals and communities, thereby fostering local economic development.

What information must be reported on section 3 business preference?

Information that must be reported includes the business's ownership structure, financial documentation, number of employees, percentage of low-income employees, and how the business intends to provide opportunities to low-income residents.

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