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Form 668-W(c)(DO) Elizabeth New Jersey: What You Should Know
We're proud to provide you with a quality building experience through a rigorous and safe construction process that helps to ensure safe and affordable buildings for you and your business. We are commissioned builders, and our expertise is fully transferable to your organization! To ensure the safety and security of your building, we offer a comprehensive range of professional services from contractors to construction managers. A. The cost of the work to build your new home may be covered by a state or local government in the purchase of a construction license and/or by a loan. The cost of the contract to build the house or trailer may be provided by a private contractor or your building company. However, if the project is undertaken on an independent basis, a contract may be provided by an external contractor and may be financed by any method including self-financing and/or loan. B. A private contract for the construction of a home or for an off-site trailer may be constructed in addition to a state and local governmental contract and, if the subcontractor is a private company, the cost and terms of the contract may be negotiated with the subcontractor before the contractor submits a bid. C. A State or local governmental construction project occurring without a valid contract can be funded if the local government determines the project is in the public interest and the construction is financed by: a) issuing tax financing bonds, or b) an agency of or agency created by the state; or c) other means approved under the applicable local governing charter. D. The cost of a local government construction project occurring after September 1st, 2023 can be funded by a local government for: a) issuing tax financing bonds, or b) an agency of or agency created by the State, or c) other means approved to meet the requirements of any such charter. E. A construction bond or lease may be purchased by, or on behalf of, a private entity for the payment of the costs of a construction project as permitted by the Bond Authorization Act, Chapter 11 of the Commonwealth of Pennsylvania provides incentives of 300,000 for any new residential project designed to serve the highest needs of the local community. See Local Economic Development Assistance Program, Chapter 1, Paragraph 2. A.
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