(a) A business equity goal should be set by DVIN for the entire scope of work on a contract.
(b) A business equity goal shall be expressed in terms of a percentage of the total dollar value of each contract awarded by the city.
(c) Except as stated otherwise herein, a business equity goal shall be established for all contracts where business equity firms exist within the marketplace.
(d) DVIN shall set a business equity goal for community facilities agreements, infrastructure construction agreements, and any other agreement relating to the construction of public infrastructure or a public building when the city's participation in the agreement is $1,000,000.00 or more in city funds.
(e) If city funds are used in conjunction with state or federal grants or allocations, the city shall not set a business equity goal for community development block grants, HOME programs, or other projects that include federal funds except where the city is mandated to set goals by state or federal requirements.
(f) A business equity goal may be established for tax abatement agreements and Chapter 380 grant agreements if allowed by and in accordance with the most recently adopted Tax Abatement Policy and Chapter 380 Grant Agreement Policy.
(g) The city will count a business equity firm's self-performance towards meeting a business equity goal.
(Ord. 24534-11-2020, § 1, passed 11-17-2020, eff. 1-1-2021; Ord. 25165-10-2021, § 1, passed 10-19-2021)