§ 324-1-I. Independent Operating Business.

"Independent operating business" shall mean a business where ownership is direct, independent, and by individuals only. Businesses that are owned by other businesses that do not qualify under the MBE or WBE eligibility requirements shall not be eligible for certification unless the following conditions are met:

(a)

The minority or women owners own and control the business through a parent company that is a holding company, established for tax, capitalization or other purposes consistent with industry practice, and the minority or women owners of the parent/holding company control the subsidiary through the parent/holding company; and

(b)

The cumulative ownership by the minority or women owners in the parent/holding company is at least 51%.

(Ordained by Ord. No. 308-2015, § 1, eff. Jan. 1, 2016)