Tuesday, September 29, 2009

Today our group met to discuss the next phase of the project which concerns the hiring of professionals. There are many legal issues to discuss when hiring professionals like architects, surveyors, engineers, and contractors. We have to make sure that these people all have valid licenses and that they agree to a contract that will protect the developers interests. The list of professionals and the legal issues concerning each will be discussed in more detail in the Powerpoint presentation.

Tuesday, September 22, 2009

Next week our class will start hiring employees to get our redevelopment started. Our group will need to research and hire everything from architects and engineers to plumbers, electricians and physical laborers.
This week our class learned about contracts and letters of intent for our redevelopment. For our presentation, we submitted letters of intent which included price, due dilgence date, and a description of the parcel.
The commercial contract agreement, however, was a bit lengthier. The contract includes clauses for legal description, buyer's remedies, purchase price and method of payment, due diligience, costs at closing, earnest money, possession, choice of law and others all in an effort to ensure that our client is fully protected and has made a good investment.

Sunday, September 20, 2009

Biscuit's Stadium Visit

The class visited The Biscuit's stadium on September 10, 2009. There we learned about the enviromental issues that surrounded the construction of this stadium. We used this information as a starting point for understanding the enviromental issues that we may face at the "Semester Parcel."