In most TIF plans, the guidelines call for about 15% of a construction contract is to be given to a minority-owned firm and about 7% is to be awarded to women-owned companies.
If a contractor cannot show good faith in trying to hire minority- or women-owned businesses, the commission may fine them. As an example, the commission cited the fine on a $100,000 contract to be $7,000.
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
