The Abatement RegisterPolkAgreement 0002404
Texas Chapter 380 / 381 agreement · Polk

Corrigan OSB, L.L.C.

Agreement 0002404, filed with the Texas Comptroller by Polk County, Texas.

$165,757,000.00committed capital investment
90–100%of all County Ad Valorem Taxes on the Certified Appraised Value of all Improvements abated
December 31, 2023performance deadline
The obligation

What the contract requires.

“construct and to install the Project and provide the Certificate to County no later than December 31, 2023 (the “Completion Deadline”)”Executed agreement, p. 10
“create and maintain throughout the Term of this Agreement no fewer than ten (10) new permanent jobs”Executed agreement, p. 9
“CORRIGAN OSB will invest a taxable amount estimated to be one hundred sixty-five million, seven-hundred fifty-seven thousand and zero one hundredths dollars ($165,757,000.00) in the Improvements”Executed agreement, p. 5
The repayment remedy

What happens if it is not met.

“County shall have the right to recapture one hundred percent (100%) of taxes already actually abated under this Agreement”Executed agreement, p. 14

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 · all County Ad Valorem Taxes on the Certified Appraised Value of all Improvements · p. 11

What was abated, and for how long.

100%first five (5) years
98%sixth (6th) year
96%seventh (7th) year
94%eighth (8th) year
92%ninth (9th) year
90%tenth (10th) year

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 bodyPolk County, Texasbetween Polk County, Texas, ("County"), acting through its duly elected officers and Corrigan OSB, L.L.C.2
Contracting entityCorrigan OSB, L.L.C.between Polk County, Texas, ("County"), acting through its duly elected officers and Corrigan OSB, L.L.C.2
Parent / guarantorNot stated in the agreement—
InstrumentTax Abatement AgreementTAX ABATEMENT AGREEMENT1
Governing chapterChapter 312, Tax Code (property tax abatement)and all other tangible personal property permitted by Chapter 312 of the Texas Tax Code and the Guidelines & Criteria.—
Capital investment$165,757,000.00CORRIGAN OSB will invest a taxable amount estimated to be one hundred sixty-five million, seven-hundred fifty-seven thousand and zero one hundredths dollars ($165,757,000.00) in the Improvements5
Grant or incentiveNot stated in the agreement—
Jobs committed10 recital language, not a covenantcreate and maintain throughout the Term of this Agreement no fewer than ten (10) new permanent jobs9
Wage requirement$62,977.00shall be paid no less than approximately sixty-two thousand nine hundred seventy-seven ($62,977.00) per year9
Square footage408,125 square feet5 new buildings totaling 408,125 square feet21
AcreageNot stated in the agreement—
Performance deadlineDecember 31, 2023construct and to install the Project and provide the Certificate to County no later than December 31, 2023 (the “Completion Deadline”)10
ExpirationNot stated in the agreement—
Effective dateMarch 23, 2021DATED March 23, 20211
SignatoryRonnie VincentBy: ‘ Pele Title: Name Honorable’ iene Date: March 23, 2021 Date: 52 /evH/ Polk County Judge Na20
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 36

5 new buildings totaling 408,125 square feet, and the purchase of new manufacturing equipment

How to check this page

Every line above is in the contract.

Agreement 0002404 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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