The Abatement RegisterMcLennanAgreement 0003592
Texas Chapter 380 / 381 agreement · McLennan

Jessup Manufactured Housing, LLC

Agreement 0003592, filed with the Texas Comptroller by McLennan County, Texas.

$1,250,000.00committed capital investment
150permanent jobs committed
5–40%of City of Waco taxes paid on the increase of the taxable value resulting from the personal property improvements abated
September 30, 2018performance deadline
The obligation

What the contract requires.

“JESSUP will make a total capital investment of $1,250,000.00 in personal property improvements as determined by the McLennan County Appraisal District (MCAD) by September 30, 2018”Executed agreement, p. 3
“JESSUP shall create no less than 150 new jobs in the City of Waco by December 31, 2019”Executed agreement, p. 4
“JESSUP will make a total capital investment of $1,250,000.00 in personal property improvements”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“then CITY may require JESSUP to repay all of the grant funds paid to JESSUP under this Agreement and may cancel all future grant payments”Executed agreement, p. 8

The remedy here is discretionary — the clause says it may be applied, not that it must be.

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 · City of Waco taxes paid on the increase of the taxable value resulting from the personal property improvements · p. 7

What was abated, and for how long.

40%Year 1
30%Year 2
20%Year 3
10%Year 4
5%Year 5
5%Year 6
5%Year 7

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 bodyMcLennan County, TexasThis Agreement is entered into by and between McLennan County, Texas (hereinafter “COUNTY”), and Jessup Manufactured Housing, LLC1
Contracting entityJessup Manufactured Housing, LLCThis Agreement is entered into by and between McLennan County, Texas (hereinafter “COUNTY”), and Jessup Manufactured Housing, LLC (hereinafter "JESSUP")1
Parent / guarantorHDLC Enterprises, LLC dba Jessup HousingLegal name and address of every business involved and applying for business grant (Ex, Another related company may own the land and lease to company operating at the facility.) : HDLC Enterprises, LLC dba Jessup Housing15
InstrumentIndustrial Business GrantAGREEMENT FOR INDUSTRIAL BUSINESS GRANT1
Governing chapterChapter 381, Local Government Codeand WHEREAS, JESSUP seeks the provision of economic development incentives from the COUNTY in the form of an Industrial Business Grant under the COUNTY’s Industrial Business Grant Program adopted by the County Commissioners Court as authorized by §381.004 of the Local Government Code;—
Capital investment$1,250,000.00JESSUP will make a total capital investment of $1,250,000.00 in personal property improvements3
Grant or incentiveNot stated in the agreement—
Jobs committed150JESSUP shall create no less than 150 new jobs in the City of Waco by December 31, 20194
Wage requirement$14.00/hris paid a minimum of fourteen dollars per hour ($14.00/hr.).4
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineSeptember 30, 2018JESSUP will make a total capital investment of $1,250,000.00 in personal property improvements as determined by the McLennan County Appraisal District (MCAD) by September 30, 20183
ExpirationNot stated in the agreement—
Effective dateApril 17, 2018EXECUTED this Qlcth,. day of ave we _, 2018.13
SignatoryDavid JessupName, corporate position, address, telephone numbet, esnail of the person(s) legally authorized to sign the contract on behalf of the company, (Provide s Corporate Resolution showing person/s with the authority to sign.) David Jessup, CEO16
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 0003592 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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