definition
strict definition
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.
Related definitions
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basic design completed
A structure's design has enough specifications to distinguish it from other designs or iterations for the same site. -
conception
The idea of building a structure receives its original statement, before an identifiable design is established. -
construction approved
The decisive governing authority grants effective approval allowing construction of a structure to begin. -
design entered in competition
A structure's design is officially registered in an architectural competition to select a design for a proposed structure. -
design not chosen in competition
A design in an architectural competition fails to be selected as an active proposal. -
design wins competition
The design for a structure is selected from an architectural competition and made a proposal. -
horizontal addition approved
A new addition at the side of an existing structure is approved by local authorities. -
horizontal addition proposed
Plans for a significant side extension adjoining an existing object and resting on new foundations are first announced. -
main contractor selected
The lead construction contractor is appointed through a signed contract with the party controlling the project. -
name announced
An authorized person or entity registers, records, or publicly announces a structure's official name. -
name chosen
A person or entity with the right to name a structure selects its official name. -
plan submitted for approval
A structure's design or specifications are first submitted for approval to a government body with legal authority. -
project announced
The first public or recorded announcement of a designed structure's realization occurs. -
project canceled
A project's plans are abandoned or cease to be actively put forward by anyone reasonably likely to realize them. -
public hearing
A meeting open to the public is convened during planning to announce, discuss, or seek feedback on a structure's plans. -
vertical addition approved
A new addition on top of an existing structure is approved by local authorities. -
vertical addition proposed
Plans for a significant addition resting on top of an existing built object are first announced.