Westbury, NY Long Island Development Corp. (LIDC)/LISBAC has funded a minority/veteran-owned business. Elite Construction of NY is a full-service minority/veteran owned project management firm headquartered on Long Island. Its clients are commercial (government, businesses, institutional). Since 2011, they have managed several high profile commercial, educational, institutional, retail development and sports projects. Principal, Michael Reed and co-founder Eze Small have over 35 years experience in the industry working for such major construction companies as Turner Construction (one of the nation’s biggest construction companies) and Triton Construction (a premier builder in NYS). Certifications include NYSMBE, NYSDOTDBE, NYCMBE, NCMBE, PANYNJMBE, VETERAN owned (federal level-certification done through Dept of Veteran Affairs); certified construction manager (through Construction Mgt Assoc of America- there are only 2600 in the U.S.) Recently the company has received certification as minority owned and veteran owned by New Jersey. The purpose of this loan is to provide start up working capital to support an upcoming project at New York University (NYU).
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.