Examples of Golden Brick in a sentence
The 'Golden Brick' comprises the foundations (which will be piled foundations, mass concrete trench fill, or other appropriate and approved foundation solution/s, for example, a basement), the substructure, drainage and ground floor slab, constructed to accommodate the self-builder purchaser's dwelling specification, layout and design.
For the avoidance of doubt the 'Golden Brick' does not include the design or construction of any thermal insulation or any other work, unless specifically included as part of the substructure, foundation and drainage design.
The Company will provide a lump sum price for the construction of the foundation, substructure and drainage works forming part of the 'Golden Brick' based on the self-builder purchaser's specification, layout and design for their dwelling.
The term 'Golden Brick' refers to the condition in which the individual plots at Graven Hill will be transferred to self-builder purchasers on completion of the sales contract.
Providers can normally only claim grant when work has progressed from Golden Brick level onwards, so long as they also satisfy the conditions about secure legal interest and having signed the contract set out above.
Providers must confirm the date when they completed on the purchase of the land under the Golden Brick arrangement.
Grant is therefore claimable when the RP has signed the building contract for the completion project with their contractor, AND the contractor has taken possession on site in order to undertake the work of completing the dwellings from Golden Brick level onwards.
Therefore, by definition, the RP's builder cannot have started work under the contract that they have with the RP, prior to the buildings reaching Golden Brick level.
The Agreement for Sale (or other legal agreement) should include a backstop date allowing for either completion of land acquisition or termination if Golden Brick has not been achieved by that backstop date.• Grant tranches should not be claimed in advance of need.
Thus RPs should be paying money out for the works being undertaken to Golden Brick stage, as well as towards the land acquisition costs.