For the purposes of this chapter, the following definitions
shall apply:
BEST VALUE
The basis for awarding contracts for services to the offerer
which optimizes quality, cost and efficiency, among responsive and
responsible offerers. Such basis shall reflect, wherever possible,
objective and quantifiable analysis. Such basis may also identify
a quantitative factor for offerers that are small businesses, certified
minority- or women- owned business enterprises as defined in subdivisions
1, 7, 15 and 21 of § 310 of the New York State Executive
Law or service-disabled veteran-owned business enterprises as defined
in subdivision 1 of § 40 of the New York State Veterans'
Services Law to be used in evaluation of offers for awarding of contracts
for services.
The Village's procurement policy shall be updated in accordance
with this chapter.