Common use of Private Building Shell Clause in Contracts

Private Building Shell. When a building shell has received a conditional certificate of occupancy for tenant improvements from the Town (a “CCO”), the Developer may submit a Disbursement Request for reimbursement of the building shell costs and the Private Building soft costs associated with that building (“Private Building Shell Costs”) based upon $75.00 per square foot. The Private Building Shell Costs are to be paid solely from the Developer Funds Account. A CCO is issued when the building is fit for occupancy except for the completion of interior improvements, including tenant improvements, and the building permit is thus closed.