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City of Chicago DBE Program 2025

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The document outlines the City of Chicago's Disadvantaged Business Enterprise (DBE) Program, detailing its objectives, requirements, and administrative procedures to ensure non-discrimination in contracting opportunities for socially and economically disadvantaged businesses. It includes sections on record-keeping, reporting DBE participation, compliance measures, and the roles of designated officials. The program aims to facilitate DBE participation in federally funded contracts while adhering to federal regulations under 49 CFR Part 26. Additionally, it provides guidelines for setting overall goals for DBE participation and emphasizes the importance of good faith efforts by contractors.

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What net worth do you need for DBE?

Before You Start The DBE Application Process The disadvantaged individual applying must have a personal net-worth (PNW) of less than $2,047,000. Items excluded from personal net worth calculation include an individuals ownership interest in the applicant firm and his or her equity in their primary.

How long does DBE certification last?

If you are a business owner who is certified as a Disadvantaged Business Enterprise (DBE) by the U.S. Department of Transportation (USDOT), you may wonder if the certifying agency may require you to recertify or reapply every year to maintain your eligibility. The short answer is no, and always has been.

Is DBE certification worth it?

Benefits of DBE certification Securing this certification sets you apart from non-certified competitors and your business becomes eligible for contracts that might have been out of reach otherwise, which can be a game-changer for your business growth.

What is the purpose of the DBE program?

The U.S. Congress established the DBE program in 1982 to: Ensure nondiscrimination in the award and administration of DOT-assisted contracts. Help remove barriers to the participation of DBEs in DOT-assisted contracts, and.

How long does DBE last?

As long as a firm continues to meet the standards established in 49 CFR 26, DBE certification is ongoing; however, the firm is required to annually submit a Declaration of Eligibility (DOE) and current year business tax returns (and affiliates) by the anniversary date of certification.

What are the requirements for DBE in Georgia?

DBE ELIGIBILITY To be certified as a DBE, a firm must be an inde- pendent small business owned (51% minimum) and controlled by a socially and economically disadvantaged individual (or multiple socially and economically disadvantaged individuals).

City of Chicago DBE Program 2025

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