Section 3 business concern definition

Section 3 business concern means a business concern that meets either one of the following descriptions:
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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—
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Examples of Section 3 business concern in a sentence

  • The bidder represents and certifies as part of its bid that it: [ ] is, [ ] is not a Section 3 business concern.

  • Nothing in this part shall be construed to require the contracting or subcontracting of a Section 3 business concern.

  • The status of a Section 3 business concern shall not be negatively affected by a prior arrest or conviction of its owner(s) or employees.

  • Section 3 Worker Definition:• A low or very low-income resident (the worker’s income for the previous or annualized calendar year is below the income limit established by HUD); or• Employed by a Section 3 business concern; or• A YouthBuild participant.

  • If no responsive bid by a Section 3 business concern meets the requirements of paragraph (2)(i) of this section, the contract shall be awarded to a responsible bidder with the lowest responsive bid.


More Definitions of Section 3 business concern

Section 3 business concern means a business concern, as defined in this section—
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Section 3 business concern means a business:
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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.
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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
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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 that meets one or more of the
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Section 3 business concern means a business concern: (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 (3) That provides evidence of a commitment to subcontract in excess of 25 percent of the dollar award of all subcontracts to be awarded to business concerns that meet the qualifications set forth in paragraphs (1) or (2). 24 C.F.R. § 135.5.
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