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Philadelphia councilman crafting legislation to help disadvantaged businesses

Philadelphia City Councilman W. Wilson Goode Jr. will introduce equity ownership legislation, which aims to make city contracts and positions more diverse and increase the feasibility of project ownership, during the council's fall session.

Under the planned program, contractors bidding on a city project or contract will be required to make a good faith efforts to include minority-, women- and disabled-owned business enterprises (MWDBEs) on a contract. The bill would also require that all economic opportunity plans include information concerning the equity ownership of the contractor, developer or recipient of financial assistance required to submit the plan. Additionally, the bill would mandate regular reporting on equity ownership information so the City can stay better apprised of any changes.

Goode and his supporters claim that the bill would be invaluable in situations where private sector projects come to the council for government approvals, as it would provide an opportunity for council to both question the diversity of the eventual ownership and then have the necessary tools track it.