financing secured
Sufficient financing for a structure's construction is secured by the owner or developer.
Construction financing for a structure is secured when a lender or investor or benefactor guarantees the availability of money for construction to the owner or developer of the project. This can happen during the planning or construction phases of a structure's lifecycle.
The event concerns guaranteed availability of construction funds to the owner or developer. An intention to seek a loan or attract an investor does not yet secure the financing.
Financing can be secured after construction has started. The event therefore need not precede foundation work, and it is separate from governmental approval of the project.
