In February 2023, Carla Vista Construction signed a contract and commenced construction on a parking garage. The total contract price was $91.1 million and was expected to be completed in July 2025 at a total estimated cost of $83.1 million. Payment by the customer was to be made in several stages, based on significant events and dates throughout the construction timeline. Based on the terms of the contract with the customer, control over the parking garage (i.e. ownership) does not transfer to the customer until completion. Carla Vista's year-end was September 30 and follows ASPE. By the end of September, 2023, Carla Vista had incurred $12,465,000 in costs and had invoiced $9,600,000 in progress billings. $8,700,000 of the progress billings had been collected. By September 30, 2024, Carla Vista had incurred $51,740,000 in total costs and had invoiced $45,300,000 in progress billings, including the progress billings in 2023. Of the total billings, $30,000,000 had been collected. Also, Carla Vista reviewed its cost estimates on the project, and now believed the parking garage would cost $79.6 million in total to complete.