Real Estate Journal — Economic Development — January 26 - February 8, 2018 — 3C
www.marejournal.com
M id A tlantic
E conomic D evelopment
By Neil Andrew Stein, Esquire, Kaplin Stewart The Infrastructure Gold Rush – Opportunities for minority businesses to help rebuild America
E
very four years, the American Society of Civil Engineers’ “Re-
concerns owned and controlled by socially and economically disadvantaged individuals.
minority race. Similarly, WBE stands for Women Business Enterprise and is sometimes
means an entity that is at least 51% owned or controlled by a socially and economically disadvantaged individual. An economically disadvantaged individual must have an initial and continued personal net worth of less than $750,000. While the process may prove tedious, becoming certified as an MBE and/or DBE at the federal and state levels will expose a firm to work opportunities on road and other infrastructure projects. When responding to a solicita- tion, contractors must provide evidence that they met the
minority participation goal established in the contract by seeking out and utilizing certified MBE/DBE firms. A contractor can only receive credit toward achievement of such goals if the firm is certified as an MBE (for State- funded contracts) or DBE (for USDOT-funded contracts). Here’s hoping that you find your share of the gold. Let me know if I can help. Neil Stein is a Principal with Kaplin Stewart Meloff Reiter & Stein. He can be reached at 610- 941-2469 or nstein@kaplaw.com. n
port Card for America’s In- frastructure” depicts the condition of our nation’s inf rastruc- ture in the familiar form of a school re-
The DBE program ensures that federally assisted contracts for highway, transit, and aviation projects are made available for small business concerns owned and controlled by socially and economically disadvantaged individuals.
The designations of minority and disadvantaged enterpris- es may prove confusing. MBE stands for Minority Business Enterprise. An MBE is owned, operated, and controlled by one or more members of a
referred to as FBE or Female Business Enterprise. A WBE or FBE is owned, operated, and controlled by one or more members of the female gen- der. Finally, a Disadvantaged Business Enterprise (DBE)
Neil Stein
port card. Letter grades are assigned based on the physi- cal condition and needed in- vestments for improvement. Sadly, for 2017, the grade is a D+. A similar report by Pennsylvania civil engineers has found that Pennsylvania faces immense challenges in maintaining and modernizing its infrastructure. Repairs are desperately needed to roads, bridges, wastewater systems and transportation facilities. However, help may be on the way. Both political parties seem to (I think) agree that now is the time to rebuild and in the process, create jobs, opportu- nity, and growth. Substantial economic opportunities will be created for minority-owned businesses, particularly in the construction and contracting sectors. The Pennsylvania Department of Transporta- tion (PennDOT) and Gov. Tom Wolf recently announced a $550 million outlay to improve roads and bridges around Philadelphia. The proposed work includes paving approxi- mately 235 miles of highway and repairing or replacing 35 bridges. Similar infrastructure initiatives have been proposed or implemented throughout the country. This massive rebuilding of infrastructure will pres- ent golden opportunities for a minority (MBE) and dis- advantaged business enter- prises (DBE). For example, PennDOT has established a DBE Program in accordance with the regulations of the U. S. Department of Transporta- tion (DOT), 49 CFR Part 26 (Part 26). PennDOT receives federal financial assistance from DOT, and as a condition of receiving this assistance, PennDOT has signed an assur- ance that it will comply with Part 26. The DBE program ensures that federally assisted contracts for highway, transit, and aviation projects are made available for small business
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Contact: NEIL A. STEIN • 610-941-2469 • nstein@kaplaw.com Visit our Blogs: pennsylvaniaconstructionlawyer.com • philadelphiarealestatelaw.com Cherry Hill, NJ 856-675-1550 • Blue Bell, PA 610-260-6000 • Philadelphia, PA 215-567-3120 • Kaplaw.com
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