Councilman Curren Price Celebrates Launch of Bond Assistance Program Los Angeles 2.0

The Bond Assistance Program Los Angeles (BAPLA) is an economic driver benefiting small local businesses in a recovering economy. BAPLA will celebrate the expansion of the program added services of Contractor Development on April 29, 2015 at Bradley Tower, City Hall as they formally announce the launch of BAPLA 2.0 the Contractor Bonding & Development Program.

BAPLA has conducted workshops throughout the City, including in the Ninth District, connecting small contractors with opportunities while at the same time helping City departments achieve their contracting objectives. Councilman Price celebrated these efforts stating that more contracts to small local businesses translate into more jobs for the local community.

“By eliminating the bonding barrier, the City is able to increase the number of qualified contractors able to bid on City work, and when a contractor from BAPLA is a successful low bidder, the City captures contract cost savings, a win-win for the small contractor and the City,” said Councilman Curren Price.

Since 2005 the Bond Assistance Program has assisted small local, minority and woman-owned contractors attain bonding to bid on City of Los Angeles contracts. Program participants were successful in securing over $64 Million in contract awards and ultimately saved the City over $2 Million in contracting costs from their competitive bids.

“The Bond Assistance Program immediately set me up for a $500,000 bond limit. Increasing my bonding line gave me the opportunity to pursue a project with Skanska. With an increased bond limit, I intend to go out and pursue more projects. The program enables contractors to go after jobs they couldn't go after before,” says Rod Edison, contractor of Max Out.

BAPLA 2.0 will further enhance the City’s effort in supporting smaller contractor businesses as well as further the City’s goals of greater diversity and inclusion in a competitive contractor market.

"The City of L.A. recognizes that in strengthening the capacity of small local contractors, they are investing in local economic and local job growth. This growth will have a far reaching multiplicative impact filtering more dollars through the City's diverse communities, generating greater tax revenue for the City and reducing the City's contracting cost by enabling more small contractors to compete for the City's business. This is classic "good governance" and the Los Angeles small local business community should be proud of their City," said Ingrid Merriwether, President & CEO of Merriwether & Williams. The Contractor Bonding & Development Program is administered by Merriwether & Williams, a progressive and socially conscious risk management consulting firm specializing in serving communities throughout the State of California.

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