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New Construction refers to Proposed Construction, Properties Under Construction, and
Properties Existing Less than One Year as defined below:
Proposed Construction refers to a Property where no concrete or permanent material has
been placed. Digging of footing is not considered permanent.
Under Construction refers to the period from the first placement of permanent material to
100 percent completion with no Certificate of Occupancy (CO) or equivalent.
Existing Less than One Year refers to a Property that is 100 percent complete and has
been completed less than one year from the date of issuance of the CO or equivalent. The
Property must have never been occupied.

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