We wanted to make you aware that on September 14, 2021 the Chicago City Council made significant changes to its MBE/WBE Program regulations. The amendments, which went into effect on October 1, 2021, affect the Local Requirements, Size Standards, and Personal Net Worth Calculation Regulations for MBE/WBE businesses in the construction industry. There are no changes to the Non-Construction Program.
While the definition of a local business remains the same – “a business entity located within the counties of Cook, DuPage, Kane, Lake, McHenry, or Will in the State of Illinois” – a business is no longer required to have a majority of its regular, full-time work force located within this Six County Region.
This amendment has adjusted how the size standard for construction firms is assessed in two ways:
Personal Net Worth Calculation
While the personal net worth limit itself remains the same and will continue to be assessed and adjusted on an annual basis, this amendment now allows for additional exclusions when calculating an owners personal net worth. These new exclusions include:
We encourage you to discuss your plans with us to increase your involvement in the City’s contracting opportunities.