Hero

Terms and Definitions
Terms and Definitions

Look up common, but confusing terms related to starting, maintaining, and growing your business.

I-Q

Liabilities

Items in which you owe money and/or debts. If the debt can be repaid in less than five years, it's considered a short-term liability; debts that are to be paid in more than five years are a long-term liability.

Major Project

For the purposes of permits with the Department of Building and safety, a Major Project is one that consists of: 30 new residential units or more, new non-residential floor area of 30,000 sf or more, valuation of $5 million or more, or creates more than 50 new jobs.

Microfinance

A source of financial services for entrepreneurs and small businesses lacking access to banking and related services.

Net profit

Revenue minus your costs AND tax.

Plan Check

A process where the Department of Building and Safety reviews and approves building-related proposals to ensure they comply with existing City laws, restrictions, and codes.

  • Counter Plan Check - Same-day plan checks for common, straightforward projects.
  • Regular Plan Check - A more detailed plan check for complicated projects.
Preliminary Plan Check Service

A service that gives those applying for a building permit the chance to meet with City engineers to learn more about the necessary requirements prior to official plan check submittal.