Construction Related Issues

I just attended the BDO Restaurant CFO Roundtable where I presented the Top 10 Most Important Legal Provisions of a Restaurant Lease. Arranged by Dustin Minton and Floyd Roades of BDO, the Roundtable brings together restaurant industry executives to learn about industry trends. BDO is the industry leader when it comes to accounting services for restaurants. I was very impressed with every BDO person I met and I loved their new office. Wide open spaces designed to encourage collaboration. The best space was the employee dining room which had a ping pong table in it and an attached balcony overlooking Great American Ballpark.

I won’t recreate the whole presentation here, but I will say that the top most important lease provision (according to me) is the construction exhibit/clause. Between chargebacks, bonding requirements, security deposits, impact fees, requirements to work before permits are received, equipment requirements and design requirements, a tenant’s construction budget and opening schedule could be significantly affected. And these things are never covered in the LOI and typically are not even presented until the end of the lease process.
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thFQN0S1DOCombining HUD-insured multifamily construction financing (like Section 221(d)(4) loans) with historic tax credits (“HTC”) can seem like an impossible feat given their respective mazes of rules and requirements. Notwithstanding, each are valuable sources of capital for developing multifamily projects, and, if you can manage through those mazes, HUD financing and HTCs can be successfully combined.

Ohio added 4,000 new construction jobs in December, leading the country in gains for the month according to an analysis of Labor Department data released by The Associated General Contractors of America (“AGC”) last week.

The AGC’s analysis noted that construction firms added jobs in 34 states last year, but industry employment declined in 32

From the standpoint of a construction lawyer, there is no prettier site than construction cranes in the air.  Cleveland has seen its share over the last year, more so than since the mid-1990s when the Rock Hall, Gateway sports arenas and Science Center were constructed within a short span.

During the prior four months of

 

Thanks to our partner, Eric Robbins, Chair of our Intellectual Property Group for bringing this video to our attention.  As an engineer at heart Eric thought that our readers involved in development and construction  will find this time lapse video facinating.  Watch as a hotel is constructed in China in 30 days ! 

 

As the construction industry starts to rebound from a down market, rentals of project equipment are on the rise. Whether you are an owner, principal contractor, or specialty trade subcontractor, you may very well be renting equipment for use on an upcoming project. Here are five important points to bear in mind:

In order to replace aging public infrastructure assets you have to move the existing ones out of the way.  See the video below on how a bridge across the Ohio River was removed to make way for a replacement.  This one is for our readers who are in the demolition, road building and engineering industries.