The Abatement RegisterMontgomeryAgreement 0003324
Texas Chapter 380 / 381 agreement · Montgomery

Valley Ranch Town Center Management District

Agreement 0003324, filed with the Texas Comptroller by Montgomery County, Texas.

$5,250,000committed capital investment
$21,000,000grant or incentive
December 31, 2029performance deadline
The obligation

What the contract requires.

“The Road Improvements Completion Date shall be no later than December 31, 2029, unless otherwise agreed to by the County.”Executed agreement, p. 3
“$5,250,000”Executed agreement, p. 15
The remedy

What the contract says happens.

“In the event that the District fails to meet its obligation to complete the Road Improvements by the Road Improvements Completion Date in accordance with Section 3.E., the County shall have, as its sole remedy, the right to suspend the Annual Payments and to receive from the District, as liquidated damages, a sum equal to the amount of all Annual Payments made to the District in excess of the Road Improvement Costs f”Executed agreement, p. 8

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 · Road Improvements

What was abated, and for how long.

—commencing in calendar year 2020

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 bodyMontgomery County, TexasMontgomery County, Texas, a body corporate and politic under the laws of the State of Texas, by and through its Commissioners Court (the “County”)1
Contracting entityValley Ranch Town Center Management DistrictValley Ranch Town Center Management District (the “ District”), a body corporate and politic and a governmental agency of the State of Texas1
Parent / guarantorThe Signorelli Company“Developer” means The Signorelli Company, a Texas corporation, its subsidiaries, affiliates, successors, and assigns.3
InstrumentAgreement for the Financing and Construction of Road ImprovementsAGREEMENT FOR THE FINANCING AND CONSTRUCTION OF ROAD IMPROVEMENTS1
Governing chapterChapter 381, Local Government Code1) GENERAL SCOPE OF THE AGREEMENT A) C) 754853_3 rev bdg The Parties hereby agree to establish a program to finance and develop certain major thoroughfare and loop road improvements and related improvements in aid of such road improvements (the “Road Improvements”) in accordance with Chapter 381, Texas Local Government Code (“Chapter 381”), under which the County has the authority to use public fu—
Capital investment$5,250,000$5,250,00015
Grant or incentive$21,000,000“Reimbursement _Cap” with respect to Road Improvements means $21,000,000.3
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineDecember 31, 2029The Road Improvements Completion Date shall be no later than December 31, 2029, unless otherwise agreed to by the County.3
Expiration30 years from the date of this AgreementTerm. This Agreement will be in full force and effect until the earlier of (i) the date on which all Road Improvement Costs have been paid in full by the County, up to the Reimbursement Cap, or (ii) 30 years from the date of this Agreement.7
Effective dateDEC 18 2018Date: DEC 18 201814
SignatoryJim ClarkJim Clark a\e President Commissioner, Precinct 4 Board of Directors14
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 15

Complete Final Two Lanes of Valley Ranch Parkway to FM 1314, Collector Roads and Utilities to Support Valley Ranch Town Center West, Traffic Light at Valley Ranch Parkway and Valley Ranch Bend, Traffic Light at Valley Ranch Parkway and Azalea Bivd., Complete the Expansion of Azalea Blvd. Fourth Lanes, Collector Roads and Utilities to Support Valley Ranch Medical District, Bridge and Loop Road Connecting Valley Ranch Bend to Grand Parkway, Collector Roads and Utilities to Support Valley Ranch Commerce District, Loop Road connecting Valley Ranch Bend and Grand Parkway

How to check this page

Every line above is in the contract.

Agreement 0003324 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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