Personal Net Worth & On-Site FAQs
Only disadvantaged persons having a PNW of less than $1,320,000 can be considered as a potential qualified DBE or SBE. Items excluded from a person’s net worth calculation include an individual’s ownership interest in the applicant firm and his or her equity in their primary residence
Yes, you must indicate the current market value of your primary residence on the PNW form together with any debt you owe against it. The equity in your primary residence does not count toward the allowed $1,320,000.
The majority disadvantaged owner(s) whose ownership and control is/are being relied upon for DBE certification or SBE Verification should complete a PNW. Usually this person owns 51% or more of the firm. If two disadvantaged owners make up a majority of 51% ownership, both will be required to complete the PNW.
For example, if Owner A owns 33%, Owner B owns 33% and Owner C owns 34% the two disadvantaged owners whose ownership and control is being relied upon must complete the PNW.
At Metra, we must comply with confidentiality requirements and take this responsibility seriously. All files are locked in cabinets which only DBE staff has access.
It is a regulatory requirement. The federal regulations states in 49 CFR Part 26.83, Subpart E:
“Perform an on-site visit to the offices of the firm. You must interview the principal officers of the firm and review their resumes and/or work histories. You must also perform an on-site visit to job sites if there are such sites on which the firm is working at the time of the eligibility investigation in your jurisdiction or local area. You may rely upon the site visit report of any other recipient with respect to a firm applying for certification.”
Yes, if your business is based out of your home an on-site visit is still required.
For out of state businesses an over the phone interview may be performed in place of the on-site visit. You may also be asked to provide additional information.