Faegre Drinker Biddle & Reath LLP, a Delaware limited liability partnership | This website contains attorney advertising.
February 03, 2009

LEED Requirements For Private Buildings Raise Concerns

  • Washington, D.C. has enacted groundbreaking legislation requiring private buildings to meet LEED standards.
  • One of the requirements of the legislation is that developers must obtain performance bonds for up to 4% of the construction cost (with a maximum of $3,000,000) of a project. If the building fails to achieve the required certification, the bond amount must be paid into a green building fund established by the City.
  • The National Association of Surety Bond Producers and the Surety and Fidelity Association of America have expressed concerns about the legislation on the grounds that it is unclear and inconsistent with industry practice and have met with City officials to discuss these concerns.
  • The legislation is under review.

The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.

Related Legal Services