Negocios Now

www.negociosnow.com 16 Octubre 2021 Latinos on the Move By Maria Prado* P reparation is crucial when adhering to the strict City of Chicago Certification program's guidelines. To ensure a seamless process, we recom- mend that you confirm your eli- gibility and qualifications. Local businesses must be located in either Cook, DuPage, Kane, Lake, McHenry or Will county. And most importantly, qualifying MBE and WBE business owners will need to present their contact, ownership, employee, facility and financial information, along with licenses for the applicant and the business. The application is to be complet- ed and submitted online via the procurement services site. To prevent a delay or an appli- cation rejection with the Certifi- cation program, gather and orga- nize your information. You may create folders to save each of the major qualification requirements as listed below. OWNERSHIP To support the eligibility require- ment of 51% ownership by eli- gible individuals ensure that your documentation includes the fol- lowing: Substantiates where and/ or how start-up funds/ expan- sion capital was initiated. This includes the initial capital con- tribution to start the business and/or to open the first bank account. Other items include: articles of incorporation, operat- ing agreements, and stock cer- tificates. Consistency of with the Appli- cant's firm name among various documents Three/five years of tax returns were submitted and signed as required EXPERIENCE Business Licenses, Professional Licenses, Identification of rele- vant NAICS Code numbers Clear description of critical functions and who is responsible Proof that the company is located in one of the six county regions (MBE/WBE) Complete contracts for each NAICS code with: signature & exe- cuted by qualifying owners, and corresponding proof of payments. QUALIFYING INDIVIDUALS ARE MAKING CRITICAL BUSINESS DECISIONS No outside secondary employ- ment that takes the majority of the MBE/WBE enterprise's time each day Point of contact responding to requests for information in a timely manner Please ensure all documents are attached under the appro- priate application sections and submitted online. Prado & Renteria is here to help; we offer an initial consul- tation at no additional cost to assess an organization's MBE and/or WBE eligibility. Prado & Renteria seeks to enhance our support towards minority and women-owned businesses through our new ser- vice of Professional Declaration of Eligibility (PDE). The City of Chicago's MBE and WBE Certifi- cation Processing can be expe- dited with a Professional Decla- ration of Eligibility conducted by a certified public accountant. * Maria Prado is a co-founder of Prado & Renteria Prof. Corp., the largest Hispanic woman-owned CPA firm in the state of Illinois Pitfalls to Avoid During the City of Chicago's Certification Process AILEEN VELAZQUEZ: NEW CHIEF PROCUREMENT OFFICER FOR THE DEPARTMENT OF PROCUREMENT SERVICES Mayor Lori E. Lightfoot announced Aileen Velazquez as the next Chief Procurement Officer of the Department of Procurement Ser- vices (DPS). Velazquez will be charged with leading the contracting, certification, and compliance authority for the City of Chicago. Prior to joining the Lightfoot administration, Velazquez served as the Director for Procurement Services for Corporate/Outsourced Services at CNA Insurance Companies. Before her role at CNA Velazquez served as the Deputy Procurement Officer for DPS. ILLINOIS INTERNATIONAL PORT DISTRICT NAMES ERIK VARELA AS EXECUTIVE DIRECTOR The Illinois International Port District Board Chairman (IIPD) Ivan Solis announced that the IIPD named Erik Varela as the incoming Executive Direc- tor. Working with the board of directors, Varela will solidify the IIPD as one of the most important domestic and international trade hubs. Erik will also bring a wealth of lived experience to this role as he will serve as the port's first Latino leader, said Chicago Mayor Lori E. Lightfoot. Prior to being named IIPD Executive Director, Varela most recently served as Senior Director of Public Affairs for Union Pacific Railroad. In that role he was responsible for leading all legislative, governmental and community relations activities in Illinois and Wisconsin on behalf of Union Pacific.

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