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For instance, in the State of New York, the appearance of specified language in the mortgage to the effect that it is a construction loan preserves its priority over mechanic's liens arising out of the construction, as long as subsequently filed lien claims that are legitimate are not ignored.
Martin works with 300 contractors to build homes for teachers, police officers, firefighters and others in the middle class, with 500 units currently in the pipeline.
A certificate of occupancy is a document issued by a local government agency or building department certifying a building's compliance with applicable building codes and other laws, and indicating it to be in a condition suitable for occupancy.
Building in Los Angeles is already notoriously tough due to a maze of permits and red tape. Waiting on full payouts from insurance companies may hold up the reconstruction process, as well.
Associated Builders and Contractors (ABC) is a national U.S. trade association representing the construction industry. ABC is an association of 69 chapters with more than 23,000 commercial contractors and construction-related firms among its members.
Green also waived the Special Management Area law for multifamily construction. The state Health Department has waived rules requiring that new homes be connected to a sewage system.