How and Why to Use Section 3
Section 3 was created to assist in the economic development of businesses as well as individuals. By
combining a Good Faith effort with appropriate funding, the ripple effect would cause more housing
opportunities as well as...
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How and Why to Use Section 3
Section 3 was created to assist in the economic development of businesses as well as individuals. By
combining a Good Faith effort with appropriate funding, the ripple effect would cause more housing
opportunities as well as provide a means for those in poverty to create and meet financial goals. There
is no loss of benefits for contractors either. As long as the guidelines for section 3 are followed,
contractors can receive funding and continuous contracts to help their business grow and succeed.
Section 3 Difference
It's important to remember that section 3 is different from other opportunities for funding through HUD
because it is based on income rather than other demographics. A certified women owned business
receives no preferential treatment and neither does a certified minority owned business. Section 3
requirements involve using low income employees to complete HUD funded contracts, regardless of
race, sex, or other demographics that apply to some o
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