(1) The Procurement Commissioner, with respect to Covered Construction Contracts to which the City is a party, or the Director of Finance, with respect to Covered Construction Contracts to which the City is not a party, may waive compliance with the provisions of this Chapter on one or more of the following grounds:

(a) The contract or subcontract is for the purchase of goods or services from a sole source and there are no other sources available following extensive search.

(b) The Procurement Commissioner, or where applicable, the Finance Director, certifies that the added cost of the contract or subcontract as a result of applying the provisions of this Chapter exceeds by ten percent (10%) or more what would have been the cost of the contract if it had been awarded to the otherwise lowest responsible bidder.

(c) The Procurement Commissioner, or where applicable, the Finance Director, certifies that applying the provisions of this Chapter will result in the loss of federal, state or similar funds or grants, or is otherwise prohibited by federal or state law.

(2) The Director of Finance may waive compliance by a City-related agency, in accordance with the foregoing exceptions, upon request of the agency and at the discretion of the Director of Finance.