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building permit

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Building Permit
Permission by a local government to build a new construction or renovate an existing one. A building permit helps ensure that the construction will be safe and that it will comply with inspections (and therefore with the building code). It also helps raise revenue for the municipality, since building permits usually require a fee.

building permit

Written permission from local government to proceed with construction, substantial repair,demolition,or sign erection on real property.The permit process serves several purposes:

• Revenue generation through permitting fees
• Early identification of potential problems, such as the need for historical district approvals
• Entry of the project into a tracking system to ensure code compliance through periodic inspections
• Estimation of the anticipated cost of the project, in order to assist local government with analysis of building and development trends
• Initiation of steps that will ultimately ensure all subcontractors have business licenses and correctly report their income for the year

(Developers typically include contingencies in their purchase contracts to allow for difficulties in obtaining building permits. Especially with large projects, which require extensive plan review before issuance of a permit,the permitting process can take many months.)



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Cyprus building permits showed volatility in August, reflecting perhaps both a quiet summer month and the uncertainty of the sector's future direction.
Although the construction industry has suffered more job losses than any other sector during the recession, building permit values in the Little Rock Metropolitan Statistical Area held up remarkably well during the first half of 2009.
US home construction saw a surprise decline in July, with both new starts and building permits suffering a drop after rising for two months, the Commerce Department said Tuesday.
 
 
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