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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 231017
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Sponsor: Councilmember Melissa Patterson-Hazley
COMMITTEE SUBSTITUTE
Amending Chapter 3, Code of Ordinances, by deleting Section 3-457, "Procedures for all other contracts," and inserting in lieu thereof a new Section 3-457 of like title, for the purpose of giving the Director of the Civil Rights and Enforcement Opportunity ("CREO") Department discretion to allow certain documents to be submitted after contract execution but before payment is made pursuant to the contract.
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WHEREAS, Section 3-457 sets out MBE/WBE document procedures required for certain City contracts to be executed, including when a notarized contractor utilization plan ("CUP"), letter of intent to subcontract ("LOI") and request for waiver of contract goals must be submitted; and
WHEREAS, Section 3-457 requires CUPs, LOIs and request for waiver of contract goals be submitted; and
WHEREAS, the economic development objectives of some grant and real estate contracts, such as Housing Trust Fund contracts, necessitate discretion by the Director of CREO to allow for submission of some documents at a later time; and
WHEREAS, requiring these documents prior to contract award of these contracts has caused several issues:
1. many projects have multiple capital stacking applications in the pipeline, and some incentive funds can be used for predevelopment costs, which would need to be available sooner, rather than later;
2. the current requirement can prevent or hold up closings due to financial contract requirements from lenders; and
3. many projects have federal funds included in their capital stack and include prohibitions of bidding until after final closing since bid shopping is prohibited; and
WHEREAS, a later timeline for these documents will help facilitate movement of projects in areas with much need for economic development; and
WHEREAS...
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