Fairfield Connecticut Building Expert Directory

43% of U.S. Homes in High Natural Disaster Risk Areas

September 03, 2015 — Beverley BevenFlorez-CDJ STAFF
RealtyTrac released data that declared that “35.8 million U.S. single family homes and condos with a combined estimated market value of $6.6 trillion are in counties with high or very high natural hazard risk.” Each county was assigned one of five risk catagories for overall risk of natural disaster: Very High, High, Moderate, Low, and Very Low. States whose scores fell into the “Very High” category included California, Florida, New York, New Jersey, and North Carolina. “The weather is beautiful in SoCal, but we are statistically more susceptible to the risk of fire, floods and earthquakes than most areas. Our agents must be articulate in explaining the higher risks to buyers. People have to be able trust their agent to fully disclose the risks of natural disasters and homeownership to allow buyers to make the most informed decisions,” Mark Hughes, chief operating officer with First Team Real Estate, covering the Southern California market, told RealtyTrac. “A well-informed knowledgeable buyer is best prepared to take on the potential risks associated with SoCal homeownership.” Read the court decision
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Companies Move to Houston Area and Spur Home Building

December 30, 2013 — CDJ STAFF
A number of companies are developing commercial properties in the Kingwood area of the Houston metropolitan region and that’s spurring residential development as well. According to the Houston Chronicle, a number of key industries will be moving the area. And it’s leading to a lot of residential and commercial development. The 4,000-acre mixed-use development Generation Park will include offices, hotels, shops, and other amenities. But an important part of its success is expected to come from the adjacent master-planned community, Summerwood. Another development, Kingwood Parc City Center will include retail, restaurants, a movie theater, and office space. Other development in the Kingwood area includes a $71 million addition to the Kingwood Medical Center. The new tower will specialize in services for women and infants. Read the court decision
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New California Construction Laws for 2020

March 09, 2020 — Smith Currie
The California Legislature introduced more than 3,033 bills in the first half of the 2019-2020 session. This article summarizes some of the more important bills affecting contractors in their roles as contractors, effective January 1, 2020, unless otherwise noted. Not addressed here are many other bills that will affect contractors in their roles as businesses, taxpayers, and employers. Each of the summaries is brief, focusing on what is most important to contractors. Because not all aspects of these bills are discussed, each summary’s title is a live link to the full text of the referenced bills for those wanting to explore the details of the new laws. BIDDING & PREQUALIFICATIONS Disabled Veteran Preferences Strengthened (AB 230, Brough) The California Legislature intends that every state procurement authority meet or exceed a DVBE participation goal of a minimum of 3% of total contract value. State departments must require prime contractors to certify at the completion of each contract the amount each DVBE received from the prime contractor, among other information. This new law requires the prime contractor to provide upon request proof of the amount and percentage of work the prime contractor committed to provide to one or more DVBEs under the contract in addition to proof of payment for work done by the DVBE. Additionally, prime contractors must now obtain permission before they may replace a listed DVBE. County of San Joaquin Now Authorized to Establish Bid Preferences (AB 1533, Eggman) This new law extends to the County of San Joaquin existing law that authorizes local agencies to establish preferences for small businesses, disabled veteran businesses, and social enterprises in facilitating contract awards. Read the court decision
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Reprinted courtesy of Smith Currie

Feds Move To Indict NY Contractor Execs, Developer, Ex-Cuomo Aide

November 30, 2016 — Mary B. Powers – Engineering News-Record
Executives at Buffalo, N.Y.-based contractor LPCiminelli and developer COR Development, Syracuse, N.Y., were indicted Nov. 22 on charges of bribery, corruption and fraud in the award of hundreds of millions of dollars in construction contracts. Read the court decision
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Reprinted courtesy of Mary B. Powers, Engineering News-Record
ENR may be contacted at ENR.com@bnpmedia.com

Case Alert Update: SDV Case Tabbed as One of New York’s Top Three Cases to Watch

January 10, 2018 — Richard W. Brown - SDV Blog
Argument before the Court of Appeals has now been scheduled for February 7, 2018, in Gilbane Building Co. v. St. Paul Insurance, with a long anticipated decision by New York’s highest court to be issued shortly thereafter. In its September 18, 2017 edition, Law360.com highlighted three major cases with significant implications on insurance coverage that will soon be decided by the New York Court of Appeals. Gilbane presents an opportunity for the Court to address the growing number of divergent decisions regarding the prerequisites for qualifying as an additional insured, as it considers an Appellate Division’s holding that a construction manager is not entitled to coverage as an additional insured under a contractor’s policy because the two companies did not enter into a direct contract. Read the court decision
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Reprinted courtesy of Richard W. Brown, Saxe Doernberger & Vita, P.C.
Mr. Brown may be contacted at rwb@sdvlaw.com

Lennar Profit Tops Estimates as Home Prices Increase

March 26, 2014 — John Gittelsohn – Bloomberg
Lennar Corp. (LEN), the biggest U.S. homebuilder by market value, reported a fiscal first-quarter profit that beat analysts’ estimates as the company sold more homes at increased prices. Net income climbed to $78.1 million, or 35 cents a share, in the three months through February, from $57.5 million, or 26 cents, a year earlier, the Miami-based company said in a statement today. Analysts expected earnings of 28 cents a share, the average of 17 estimates compiled by Bloomberg. Publicly traded builders have been increasing prices to take advantage of a tight supply of new and existing homes while using their economies of scale to reduce costs and widen profit margins. Lennar’s profit, deliveries and orders grew even as inclement weather threatened home sales in much of the U.S. during the quarter, according to Drew Reading, a Bloomberg Industries analyst. “Lennar followed KB Home (KBH) in reporting order trends indicating a strong start to the spring selling season,” Reading said in a note after the earnings were released. Read the court decision
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Reprinted courtesy of John Gittelsohn, Bloomberg
Mr. Gittelson may be contacted at johngitt@bloomberg.net

Not to Miss at This Year’s Archtober Festival

October 15, 2014 — Carrie Hojnicki – Bloomberg
New York architecture fanatics everywhere can rejoice: Archtober has arrived. In its fourth annual iteration, the monthlong festival throws a spotlight on the importance of architecture and design in the five boroughs, calling special attention to the city’s rich built history and exciting future. In addition to a lineup of lectures, openings, and workshops, the American Institute of Architects (AIA) New York Chapter–sponsored initiative highlights a “Building of the Day,” with on-site tours led by the architects themselves. Here are five events not to miss this Archtober. 1. AIA’s New York chapter puts its own spin on the architecture tour: a boat ride. Guides from the AIA will share their wisdom as the cruise circles the tip of Manhattan, passing architectural marvels aplenty. October 3, 10 am and 1:30 pm, Classic Harbor Line Read the court decision
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Reprinted courtesy of Carrie Hojnicki, Bloomberg

Construction Employment Rose in 38 States from 2013 to 2014

March 19, 2014 — Beverley BevenFlorez-CDJ STAFF
The Associated General Contractors of America (AGC) reported that 38 states experienced construction job growth from January 2013 to January 2014, and 27 states showed gains from December 2013 to January 2014. AGC stated that “the fact so many states added construction jobs for the year and month despite harsh winter conditions in many parts of the country is a sign that demand appears to be recovering.” Kansas ranked first in the “12-month gain or loss” category with a 10.7% gain. Wyoming came in last with a -5.9% over a 12-month period. However, if examining a one-month period (between December 2013 and January 2014), Idaho showed the highest growth with a 5.8% gain, while Vermont was ranked 51 at -5.5%. Read the full story, Article... Read the full story, Rankings... Read the court decision
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FAIRFIELD CONNECTICUT BUILDING EXPERT DIRECTORY AND CAPABILITIES