beneficial occupancy


Also found in: Acronyms.

beneficial occupancy

The use of a project or portion thereof for the purpose intended.
References in periodicals archive ?
Initial work on this project will begin in early 2006, with beneficial occupancy expected in 2009.
The airport has recently amended its concession agreements with all on-airport rental car operators, which will have an initial ten year term commencing on the date of beneficial occupancy.
Construction is expected to begin in June 2011 and the fall of 2013 is the anticipated date of beneficial occupancy (DBO).
The CONRAC was completed and opened for beneficial occupancy in April 2010, on-time and on-budget.