(a) Joint ventures. Where it is economically feasible, the establishment of joint ventures to ensure prime contracting opportunities for business equity firms on certain solicitations is encouraged. The factors used to evaluate economic feasibility, include, but are not limited to, the estimated dollar value of the solicitation, the scope of work, the duration of the work, the complexity of the work, the availability of potential business equity firm joint venture partners in the relevant market area and the nature of the work.
(1) When the city uses a procurement method other than lowest responsible bidder, the city may, at its discretion, designate a particular solicitation as a "joint venture preferred" solicitation.
(2) A prospective joint venture partner shall state within its proposal or its statement of qualifications information that specifies the role and extent of the business equity firm joint venture partner(s) involvement. Such information shall include, but is not limited to:
a. The name of the business equity firm joint venture partner(s) that will participate on the project.
b. The percentage of prime contract dollars attributable to the services to be provided by the business equity firm joint venture partner; and, as appropriate the total dollar value of the services to be provided.
c. A description of the work that each business equity firm joint venture partner shall be responsible for performing under the terms of the joint venture agreement.
(3) The prospective joint venture partner must also submit a "joint venture eligibility form." DVIN will review the "joint venture eligibility form" and will have final approval, as to whether the proposed joint venture conforms to the DVIN's definition of a joint venture.
(4) The joint venture shall ensure that, at a minimum, the following items are addressed in the formation and governance of the joint venture:
a. The initial capital investment of each joint venture partner;
b. The proportional allocation of profits and losses to each joint venture partner;
c. The sharing of the right to control the ownership and management of the joint venture;
d. Actual participation of the joint venture partners on the project;
e. The method of and responsibility for accounting;
f. The method by which disputes are resolved; and
g. Any additional or further information required by the DVIN as set forth in this article, bid documents and/or otherwise.
(b) Mentor protégé program.
(1) The mentor protégé program is designed to foster relationships between contractors and underutilized business equity firms. The objective of the mentor protégé program is to provide professional guidance and support to the protégé (which must be a business equity firm) in order to facilitate protégé growth and development and increase the number of contracts and subcontracts awarded to business equity firm.
(2) The mentor-protégé relationship is intended to be mutually beneficial because it allows mentors to utilize their proteges to fulfill business equity goals when bidding on contracts. It is advantageous to build a partnership prior to a solicitation or contract award to establish confidence in performance.
(3) DVIN shall serve as a sponsor for the mentor protégé program. Companies interested in joining the mentor protégé program should contact DVIN to search a list of potential business equity firm proteges that may provide complementary services, and supply chain opportunities.
(4) DVIN may prioritize protégé businesses in critical areas of city procurement or contract needs.
(5) DVIN will consider the following criteria for selection of a mentor in the mentor protégé program:
a. The mentor must be registered with the City of Fort Worth;
b. Previous mentoring experience and or successful prior work history;
c. The mentor must have been in operation for at least five years;
d. Ability to provide developmental guidance in areas identified by the protégé; and
e. "Good standing" in doing business with the City of Fort Worth and regional partners.
(6) DVIN will consider the following criteria for selection of a protégé in the mentor protégé program:
a. Eligibility and willingness become a business equity firm, as defined herein;
b. Business in operation for at least one year;
c. Desire to participate with a mentoring firm;
d. Ability to work with DVIN in identifying the type of guidance needed for business development; and
e. "Good standing" in doing business with the City of Fort Worth and regional partners.
(Ord. 24534-11-2020, § 1, passed 11-17-2020, eff. 1-1-2021; Ord. 25165-10-2021, § 1, passed 10-19-2021)