Builder Draws
- Builders complete a Sworn Construction Statement detailing the subcontractors, suppliers, and line item costs; draws are managed from the Sworn Statement.
- Up to 10 draws are permitted.
- Draws are disbursed directly to the Builder and/or subcontractors within 3-5 days of CLC's receipt of a draw request. Draws are disbursed based on a percentage of completion.
- A progress inspection is required for each draw.
- Draws are generally funded directly into Builder's checking account by wire transfer (for approved Builders) and/or directly to the Subcontractors via check.
- Prior to the first draw, a foundation endorsement and building permit is required.