VA Sets Aside Millions for Construction Projects

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The U.S. Department of Veterans Affairs has set aside $685 million in congressional funding for several State Veterans Home construction projects. The projects will be funded through the VA State Veterans Home Construction Grant Program and will be used for repairs, renovation, or new construction. This is the largest appropriation to the grant program in its 50-year history and is …

Surety and Mass. University are Selecting New Contractors to Complete Projects

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FITCHBURG — Last year, Fitchburg State University exited early from two construction contracts with a Haverhill company that has run into conflicts in other communities around the state. According to university officials, FSU contracted with GTC Construction Management on two projects: the renovation of Percival Hall and the creation of a “game studio” in the Main Street Theater Block. Read …

Contractors’ Bond Capacity Can Improve by Working With a CPA

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As a contracting business grows in capacity to handle projects, an important question that arises is how to also increase your capacity to obtain larger amounts on your bonds required for construction projects. Without increasing your bond line, you are limited in the amount of work you can undertake which in turn is necessary to grow your business further. Read …

Opinion: Multifamily, Commercial Construction Costs to Rise With Tariffs

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A Walton College economist Mervin Jebaraj doesn’t see much upside to tariffs that President Donald Trump says he plans to impose. On Thursday (March 8), Trump pulled the trigger on tariffs for steel and aluminum imports. The President’s order places a 25% tariff on steel imports and a 10% tariff on aluminum imports, and created exemptions for imports from Canada …

Experts: Ontario Law May Grow Surety Market in Canada’s Public-Private Sector

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Legislation passed late last year in Ontario that requires surety bonds for municipal contracts will likely expand the surety market in both the public and public-private sectors in Canada, industry sources say. The legislation may also have a knock-on effect on other provinces, they add. In British Columbia, the B.C. Law Institute is currently undertaking a review of the Builders …

Contractors, Distributors Optimistic About Increased Construction Activity

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The Wells Fargo report matches up with the Associated General Contractors of America’s and Sage Construction and Real Estate’s 2018 outlook report released in early January. That report found that 75% of the construction companies surveyed planned to add to their payrolls this year, a sentiment spurred on by lower tax rates and expected regulatory reform. Read more here >>>

Trump Considers Private Activity Bonds to Help Address Infrastructure Costs

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By Ballard Spahr for “JDSUPRA” The White House released a 53-page framework on Tuesday setting forth its legislative goals for rebuilding America’s infrastructure (the Infrastructure Plan). The Infrastructure Plan is intended “to lead to at least $1.5 trillion in investments to rebuild our failing infrastructure and develop innovative projects” through $200 billion in federal funding to promote state and local …