(a) Purchases and contracts for materials and services will be limited to those items needed for project operation.

(b) All purchases and contracts will be awarded on the basis of competitive analysis and bidding to the fullest extent possible. Unless otherwise directed by the division, no less than three bidders must be solicited by the housing company. The housing company shall include minority- and women-owned businesses in the solicitation of bids for which they shall be given a full and fair opportunity to participate. The housing company shall make good faith efforts, in accordance with the regulations, to select such businesses in the award of contracts and subcontracts. Housing companies shall report annually on its utilization of minority- and women-owned businesses to DHCR.

(c) All purchases and contracts should be awarded to the lowest responsible bidder. Award to other than lowest responsible bidder must be supported and documented in files maintained by the housing company and shall be made available to the division on request. Where approval by the division is required for the purchase or contract, such documentation must be provided to the division at the time of submission for division approval of the purchase or contract.