The Abatement RegisterMcLennanAgreement 0003620
Texas Chapter 380 / 381 agreement · McLennan

Texas Meter and Device, LLC

Agreement 0003620, filed with the Texas Comptroller by McLennan County.

$3,500,000.00committed capital investment
60permanent jobs committed
40%of City of Waco taxes paid on the increase of the taxable value resulting from the Real Property improvements abated
June 1, 2022performance deadline
The obligation

What the contract requires.

“On or before June 1, 2022, TEXAS METER will make a total capital investment of no less than Three Million, Five Hundred Thousand Dollars ($3,500,000.00) in real property improvements on the Premises”Executed agreement, p. 3
“1.2 EMPLOYMENT REQUIREMENTS - TEXAS METER shall retain no less than sixty (60) jobs (“Jobs”) in the City of Waco throughout the term of the Agreement.”Executed agreement, p. 5
“On or before June 1, 2022, TEXAS METER will make a total capital investment of no less than Three Million, Five Hundred Thousand Dollars ($3,500,000.00) in real property improvements on the Premises”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“In the event that the CITY terminates this Agreement, TEXAS METER shall make a repayment of all of the grant funds upon sixty (60) days written demand by CITY.”Executed agreement, p. 10

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 Real Property improvements · p. 7

What was abated, and for how long.

40%January 1, 2023 — December 31, 2027

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 CountyAGREEMENT FOR INDUSTRIAL BUSINESS GRANT BETWEEN MCLENNAN COUNTY AND TEXAS METER AND DEVICE, LLC1
Contracting entityTexas Meter and Device, LLCAGREEMENT FOR INDUSTRIAL BUSINESS GRANT BETWEEN MCLENNAN COUNTY AND TEXAS METER AND DEVICE, LLC1
Parent / guarantorNot stated in the agreement—
InstrumentIndustrial Business GrantWHEREAS, TEXAS METER seeks the provision of economic development incentives from the COUNTY in the form of an Industrial Business Grant1
Governing chapterChapter 380/381, Local Government Code300 SURVEYING & ENGINEERING Pec ne 1519uN 714.4648 ‘TEPLS# 10193989 ee TBPLS¥ 101M351 TOPS# 1019829 <<<PAGE 17>>> EXHIBIT “B" CERTIFICATE OF COMPLETION FOR AGREEMENT FOR CHAPTER 380 GRANT BETWEEN COMPANY NAME AND THE CITY OF WACO, TEXAS THE STATE OF TEXAS § § COUNTY OF MCLENNAN § COMPANY NAME “Owner”) acting by and through its authorized representative, ‘See certifies that it has invested at least—
Capital investment$3,500,000.00On or before June 1, 2022, TEXAS METER will make a total capital investment of no less than Three Million, Five Hundred Thousand Dollars ($3,500,000.00) in real property improvements on the Premises3
Grant or incentiveNot stated in the agreement—
Jobs committedsixty (60)1.2 EMPLOYMENT REQUIREMENTS - TEXAS METER shall retain no less than sixty (60) jobs (“Jobs”) in the City of Waco throughout the term of the Agreement.5
Wage requirement$12.00/hr.is hired to work full-time year-round and is paid a minimum of twelve dollars per hour ($12.00/hr.).5
Square footageNot stated in the agreement—
Acreage13.75 acresTEXAS METER shall purchase 13.75 acres at the corner of Bagby Avenue and Gateway Blvd., Waco, Texas3
Performance deadlineJune 1, 2022On or before June 1, 2022, TEXAS METER will make a total capital investment of no less than Three Million, Five Hundred Thousand Dollars ($3,500,000.00) in real property improvements on the Premises3
ExpirationJune 30, 20285.1 TERM. This Agreement shall be effective from Effective Date until June 30, 2028.12
Effective dateSeptember 1, 2020WHEREAS, on SGPTEMESL |, 2020, pursuant to Resolution No. 2020- 5495 , the City Council authorized the CITY to enter into this Business Grant Agreement with TEXAS METER3
SignatorySteve D. SwenkeBy: Steve D. Swenke President and Director2
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 0003620 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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