What Is A Section 3 Business
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The section 3 business registry is a listing of firms that have self certified that they meet one of the regulatory definitions of a section 3 business and are included in a searchable online database that can be used by agencies that receive hud funds developers contractors and others to facilitate the award of certain hud funded contracts.
What is a section 3 business. Section 3 for businesses certain types of businesses qualify to receive contracting preferences similar to the ones that section 3 residents receive in employment and training. The purpose of section 3 is to ensure that preference for employment training and contracting opportunities generated from the expenditure of certain hud funds is directed to local low and very low income persons particularly those who receive federal housing assistance and businesses that are owned by or substantially employ such persons. What is a section 3 business concern.
If you qualify based on at least one basis below then your organization is considered a section 3 business. Section 3 is a provision of the housing and urban development act of 1968. Is 51 of your business owned by section 3 residents.
Businesses registered formed or licensed in accordance with district laws that meet one of the qualifications listed below are known as section 3 business concerns. Section 3 business concerns are businesses that can provide evidence that they meet one of the following criteria.
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