Everyone loves bacon, right?
The conventional wisdom is that bacon makes everything better …
Which leads us to a brief discussion of the Davis-Bacon prevailing wage requirements! We have several Federal funding opportunities opening up in Tucson (the HUD 108 loan guarantee program should be launched any day now, and we here at the Downtown Tucson Partnership are setting up a revolving loan fund using New Markets Tax Credits and HUD 108 money — more on both of those programs as soon as they are official).
Take a deep breath and visualize bacon … you can do it. Davis-Bacon requires the payment of prevailing wage rates to all laborers and mechanics on construction jobs in excess of $2000. Related acts require time and one-half for overtime work, adherence to the Fair Labor Standards Act, and the criminalization of kickbacks to employers from employees.
What are “prevailing wages”? These are set periodically for each state and region. Current ones for commercial building projects (effective January 6, 2012) are posted here for AZ: http://www.wdol.gov/wdol/scafiles/davisbacon/AZ1.dvb
More details regarding Davis-Bacon are here: http://www.dol.gov/compliance/laws/comp-dbra.htm
If you would like to learn more about Davis-Bacon and see whether its requirements are a bar to your application for one or more of the Federal financing programs we will be launching, please contact us. We are thinking of hosting a seminar if there is enough interest … and bacon would be served.
You may contact us by phone, 520-837-6508, or email, email@example.com.