SBA and Treasury Announce Simpler PPP Forgiveness for Smaller Loans
On Oct. 8, the Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to small businesses.
“The PPP has provided 5.2 million loans worth $525 billion to American small businesses, providing critical economic relief and supporting more than 51 million jobs,” says Secretary Steven T. Mnuchin. “We are committed to making the PPP forgiveness process as simple as possible while also protecting against fraud and misuse of funds. We continue to favor additional legislation to further simplify the forgiveness process.”
The SBA reports it will continue to process all PPP forgiveness applications in an expeditious manner. Visit sba.gov to download the new PPP Loan Forgiveness Application Form 3508S.
New Contract Documents Created for Prefab and Modular Buildings
The ConsensusDocs Coalition also released the ConsensusDocs 753 Standard Prefabricated Construction Contract to address important contractual and legal issues that arise for projects in which a constructor, general contractor, design-builder or construction manager contracts with a prefabricator to fabricate a component off-site that is later installed on a jobsite.
The Modular Building Institute (MBI), as well as individual volunteers active in the National Institute of Building Sciences (NIBS), Off-Site Construction Council, worked with ConsensusDocs for two years to offer a standard prefabricated construction contract document.
For more information, visit consensusdocs.org.
ConsensusDocs Revise Eight Forms
With assistance from owners, general contractors, subcontractors and other industry stakeholders, the ConsensusDocs Coalition has published eight revised performance and payment bond forms.
One of the most noteworthy improvements is that the ConsensusDocs 706 Subcontractor Performance Bond now includes a self-help provision. Other modifications include more definitive time requirements for sureties to investigate; a declaration of default or non-default upon investigation; and a threshold for which surety consent is required when contract orders increase the contract amount. For more information, visit consensusdocs.org.
First-Ever Concrete Global Summit to Be Held in 2020
The first-even Global Concrete Summit, hosted jointly by the National Ready Mixed Concrete Association and Grey Matters, will be held virtually from Nov. 30 to Dec.10.
“Our industry, along with the rest of the economy, is having to adapt to a new environment. The learning opportunities and industry advancements can’t stop because of the pandemic,”says Mike Philipps, president of the NRMCA.
“This is another successful milestone for the concrete industry at a global level this time,” says Rabih Fakih, managing director of Grey Matters.
The conference will bring together practitioners, researchers and policy makers to collaborate on the future of concrete construction. Topics include innovation, resilience, life cycle assessment, low impact development, social responsibility, human health and more.
Update: SOP for Remote Site Inspections
In June 2020, Construction Executive covered survey results by the International Code Council of code officials and building and fire departments to discover how these individuals were keeping up with permitting and inspections.
Now more than ever, as the novel coronavirus continues to affect the industry, successful inspections are a critical facet of keeping sites and workers safe. With that in mind, ICC has published “Recommended Practices for Virtual Inspections,” a set of guidelines based on the survey earlier this year (and other research).
The guidelines include best practices and step-by-step recommendations for remote inspections, which have become increasingly popular during the pandemic. Submit feedback at iccsafe.org/RVI.
10 Best Cities for Construction Workers
AdvisorSmith, an insurance information provider, has identified the top 10 cities for construction workers to thrive.
Using an analysis of salaries, job availability and cost of living in 383 cities across the country, data was sourced from the U.S. Bureau of Labor Statistics’ most recent data release from May 2019.
While it was found that small to mid-sized cities are most likely to suit construction workers due to numerous factors, including salary opportunities, it should be noted that the recent economy may affect these results.
1. Springfield, Illinois. Average Construction Salary $52,520
2. Farmington, New Mexico. Average Construction Salary $34,770
3. Wheeling, West Virginia. Average Construction Salary $45,040
4. Binghamton, New York. Average Construction Salary $50,830
5. Huntington, West Virginia. Average Construction Salary $42,920
6. Mount Vernon, Washington. Average Construction Salary $56,480
7. Saginaw, Michigan. Average Construction Salary $43,470
8. Decatur, Illinois. Average Construction Salary $42,950
9. Fairbanks, Alaska. Average Construction Salary $50,400
10. Evansville, Indiana. Average Construction Salary $42,700
AIHA Publishes COVID-19 Regulation Tool
In lieu of COVID-19-specific regulations from the Occupational Safety and Health Administration, beyond revised workplace guidance, the American Industrial Hygiene Association has released “Focus on Construction Health: COVID-19,” a guidance document intended to assist with the management of pandemic-related regulations on jobsites.
This nongovernmental tool provides information on the novel coronavirus, its symptoms and effects, as well as key information regarding exposure and spread, to include a seven-step plan for protecting workers and a job safety analysis. Visit aiha.org for more resources.
More U.S. Engineering Firms See Improved Finances Since March
Despite the challenging economy, an increasing majority of U.S. engineering firm leaders (68%) say their firm’s finances have improved or remained the same since COVID-19 paralyzed the marketplace in March—a significant increase over the 58% who affirmed the same in May, according to a recent ACEC Research Institute Business Impact Survey.
Conducted of 411 engineering firm leaders nationwide between Sept. 15-17, the survey shows that more firm leaders report slightly improved cash flows since May (33%-28%), while slightly fewer firms expect to take additional cost-cutting measures over the next 90 days compared to May (66%-73%).
At the same time, a large percentage of leaders either expect declines or are uncertain regarding most engineering markets over the next 12 months, especially in the commercial (48%),hospitality (39%) andpublic buildings (29%) markets, along with transportation and education (28%).
Leaders confirm that a vast majority of their offices (90%) are open for employees to go to work, but results show only 56% of employees are working in those offices. Three of four engineering firm leaders (74%), however, say they are “very flexible” when accommodating remote work by staff for various reasons.
In addition, 77% of leaders say they either definitely or probably will not allow staff air travel to meetings or events attended by more than 100, compared to 71% in May. For more information, visit acecresearchinstitute.org.
