(a) Establishment. A Minority Business Enterprise (MBE) Revolving Loan and Bonding Program is established by the City, to be administered by the Equal Employment Coordinator of the City, for the purpose of providing financial assistance to secure working capital and bonding capabilities for Minority Business Enterprises.
(b) Funding. Said program shall be funded by City Council with periodic allocations from the Community Development Block Grant.
(c) Qualifications. A Minority Business Enterprise having its principal place of business within the City and contracting or seeking to contract with the City of Warren, County of Trumbull, State of Ohio or Warren/Trumbull Metropolitan Housing Authority, or a Minority Business Enterprise not having its principal place of business within the City, but contracting or seeking to contract with the City of Warren, County of Trumbull, State of Ohio or Warren/Trumbull Metropolitan Housing Authority for a project or services to be completed within the City, shall be eligible for said program.
(d) Rules and Regulations. The Equal Employment Coordinator for the City shall establish, with advice and consultation from the Executive Director of Community Development, City Auditor and the Law Director, rules, regulations and procedures for said program, which shall be approved by the Mayor and which shall be in compliance with all federal and state regulations regarding said programs.
(Ord. 10772/95. Passed 3-8-95.)
(Ord. 10772/95. Passed 3-8-95.)