I recently had the pleasure of sitting down with Chris Birk of Surety Bonds Insider to discuss surety issues and the green building industry, particularly related to the D.C. Green Building Act.
As a quick reset, the D.C. Green Building Act of 2006 requires owners put up "performance bonds" that guarantee LEED certification for certain projects. The surety industry has raised concerns that these types of bonds do not exist. My favorite question was when Chris asked me about the implications of the D.C. Green Building Act "performance bond" issue for the broader green building industry:
Chris Birk: "What sort of long term, beyond the District implications are there in this?"
Chris Cheatham: "This same issue will pop up wherever there is a green building regulation being proposed or pushed forward. Whenever you are mandating some type of certification, some type of green building certification, you have to have an enforcement mechanism. Because if you don’t then people won’t comply and its pointless to have the regulation. You have to have some type of penalty."
I appreciate the opportunity to work with Surety Bond Insiders on this interview. Please take a listen and let me know what you think. What other issues should Chris and I discuss surrounding the surety, construction and green building industry.
Surety Bonds Sit-Down: The Future of Green Building with Chris Cheatham (Surety Bonds Insider)