The Abatement RegisterMontgomeryAgreement 0003331
Texas Chapter 380 / 381 agreement · Montgomery

Hewlett Packard Enterprise Company

Agreement 0003331, filed with the Texas Comptroller by Montgomery County, Texas.

11permanent jobs committed
75%of Taxable Value of the HPE Improvements and the Taxable Value of the Business Aircraft abated
December 31, 2021performance deadline
The obligation

What the contract requires.

“HPE agrees to substantially complete construction of the HPE Improvements and relocate the Business Aircraft to Montgomery County by December 31, 2021.”Executed agreement, p. 2
“HPE agrees that employment at the Facility, either directly or through its affiliates or contractors, shall equal at least 11 Full-Time Equivalents”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“Ifthis Agreement is terminated under this Article, the County shall be entitled to recapture, with interest at the rate prescribed by the Texas Tax Code for delinquent ad valorem taxes, any and Annual Incentive Payments paid to HPE under this Agreement.”Executed agreement, p. 6

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 · Taxable Value of the HPE Improvements and the Taxable Value of the Business Aircraft · p. 4

What was abated, and for how long.

75%each year until the earlier of (i) August 31, 2032, or (ii) this Agreement expires by its terms or is otherwise terminated

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, TexasThis Economic Development Agreement (“Agreement”) is by and between Montgomery County, Texas, a political subdivision of the State of Texas (“County”)1
Contracting entityHewlett Packard Enterprise CompanyHewlett Packard Enterprise Company (“HPE”), a Delaware corporation, acting by and through its authorized representative.1
Parent / guarantorNot stated in the agreement—
InstrumentAnnual Incentive PaymentsArticle 4. Annual Incentive Payments4
Governing chapterChapter 381, Local Government CodeThis Agreement is authorized by Texas Local Government Code (“Chapter 381°), under which the County has the authority to use public funds for the public purposes of promoting local economic development and stimulating business and commercial activity within the County.—
Capital investmentNot stated in the agreement—
Grant or incentiveNot stated in the agreement—
Jobs committed11 Full-Time EquivalentsHPE agrees that employment at the Facility, either directly or through its affiliates or contractors, shall equal at least 11 Full-Time Equivalents3
Wage requirement$2,028,362with an annual payroll of $2,028,362 in USS. dollars.3
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineDecember 31, 2021HPE agrees to substantially complete construction of the HPE Improvements and relocate the Business Aircraft to Montgomery County by December 31, 2021.2
ExpirationDecember 31, 20312.01. “Agreement Term”— a period of 10 years beginning on January 1, 2022, and ending on December 31, 2031.1
Effective date2021This Agreement is executed by the parties on the respective dates shown below to be effective on the date this Agreement is executed by Montgomery County.9
SignatoryFrank VerdecannaSOR Ve Port t wank Ve s(aod oh Welch Tay10
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 0003331 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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