In evaluating any bid and/or estimate prior to awarding or entering into any city contract for which competitive bidding is required pursuant to Section 101 of the City Charter, or in otherwise selecting a contractor for any other city contract for which the city selects a business for a city contract on the basis of a comparison of the price of bids or estimates, the city shall provide each local business with a preference of a three percent reduction factor. Application of the reduction factor in the award of the contract and/or selection of the contractor shall not actually reduce the amount ultimately paid by the city to the successful bidder and/or selected contractor.
(O94-039)