The Abatement RegisterPecosAgreement 0002191
Texas Chapter 380 / 381 agreement · Pecos

Blockstream Services USA Inc.

Agreement 0002191, filed with the Texas Comptroller by PECOS COUNTY, TEXAS.

$100,000,000committed capital investment
30permanent jobs committed
100%of County ad valorem taxes abated
December 31, 2022performance deadline
The obligation

What the contract requires.

“Developer covenants and agrees to complete construction of the buildings comprising the Project, and installation and commissioning of servers, cooling equipment and control systems, by December 31, 2022.”Executed agreement, p. 3
“Developer agrees to create 30 new Full-Time Equivalent Employment Positions”Executed agreement, p. 1
“capital investment of more than one hundred million and no/100 dollars ($100,000,000)”Executed agreement, p. 1
The repayment remedy

What happens if it is not met.

“In the event Developer defaults and is unable or unwilling to cure said default within the prescribed time period, the aggregate total of all financial assistance provided by the County to Developer pursuant to Section 5 of this Agreement, shall become immediately due and payable by Developer to the County.”Executed agreement, p. 7

Where a deadline above has passed, no public record exists of whether it was met — not in the Comptroller’s filings, nor in the local government’s own disclosures. That is not evidence of non-compliance. Texas requires nobody to record it.

Abatement schedule · County ad valorem taxes · p. 6

What was abated, and for how long.

100%2023
100%2024
100%2025
100%2026
100%2027
100%2028
100%2029
100%2030
100%2031
100%2032
100%2033
100%2034
100%2035
100%2036

A local abatement waives only that taxing unit’s share of the property tax bill. School districts, counties, cities and hospital districts each sign separately.

Every field, as the contract states it

The record.

FieldValue & quoted sourcePage
Granting bodyPECOS COUNTY, TEXASPECOS COUNTY, TEXAS, a Texas political subdivision (hereinafter referred to as “County”)1
Contracting entityBlockstream Services USA Inc.Blockstream Services USA Inc., a Delaware company (hereinafter referred to as the “Developer’’)1
Parent / guarantorNot stated in the agreement—
InstrumentProgram GrantProgram Grant or Program Grant Payment. The words “Program Grant” or “Program Grant Payment” mean the economic development grants paid by the County to Developer3
Governing chapterChapter 381, Local Government Code83 pace 449 PECOS COUNTY CHAPTER 381 ECONOMIC DEVELOPMENT PROGRAM AND AGREEMENT This CHAPTER 381 ECONOMIC DEVELOPMENT PROGRAM AND AGREEMENT (hereinafter referred to as the “Agreement’’) is made and entered into by and between PECOS COUNTY, TEXAS, a Texas political subdivision (hereinafter referred to as “County”), and Blockstream Services USA Inc., a Delaware company (hereinafter referred to as th—
Capital investment$100,000,000capital investment of more than one hundred million and no/100 dollars ($100,000,000)1
Grant or incentiveNot stated in the agreement—
Jobs committed30Developer agrees to create 30 new Full-Time Equivalent Employment Positions1
Wage requirementNot stated in the agreement—
Square footageNot stated in the agreement—
Acreage15approximately 15 acre tract or tracts of land in Pecos County, Texas3
Performance deadlineDecember 31, 2022Developer covenants and agrees to complete construction of the buildings comprising the Project, and installation and commissioning of servers, cooling equipment and control systems, by December 31, 2022.3
ExpirationJanuary 31, 2042shall continue thereafter until January 31, 20422
Effective dateNot stated in the agreement—
SignatoryErik ShensonPrint Name:_ Erik. Shenson12
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
How to check this page

Every line above is in the contract.

Agreement 0002191 is filed with the Texas Comptroller. Pull the PDF, go to the page number beside any row, and read the sentence. If a figure here does not match the document, tell me and it is corrected the same day.

Where the contract says nothing, the field is left empty rather than filled with a guess.

One of 1,645

Which of these are on your book?

This is a single agreement. I have read 1,645 of the 4,428 Texas has filed, resolved which have been superseded, and recorded what each commits a company to.

Send me an entity and a county and I will tell you what is on it — quoted, page-cited, checked. Free for the first one.

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