A Bonding/insurance Assistance program for certified SBEs may be developed and coordinated by the Commissioner of Purchases and Supplies in conjunction with the Department of Diversity, Equity and Inclusion. The program may include, but is not limited to, the following:
(1) Reduction or waiver of certain bid guarantees and/or bonds for selected contracts to the extent permitted by federal, state and local law for contracts issued under the Small Business Reserve Program to the extent permitted under applicable provisions in Chapter 187. Criteria for this bonding waiver shall be developed by the Commissioner of Purchases and Supplies in coordination with the Director of Diversity, Equity and Inclusion and the City's Risk Manager, and shall include an assessment of the associated risks, liability and exposure to the City;
(2) Partnering with other organizations to provide resources to assist MBE/WBEs and SBEs with procuring bonding or insurance.
(3) Provision of other assistance under this section as may be authorized by an ordinance of Council.
(Ord. 238-23. Passed 5-30- 23.)