Agreement 0004435, filed with the Texas Comptroller by Hays County, Texas.
The dated sentence above defines a term used elsewhere in the contract. It is recorded here as a definition, not as a performance obligation.
Texas Government Code 2264 requires this provision in every such agreement. It is triggered by employing unauthorised workers, not by missing a build or jobs target. The contract records no repayment remedy for the obligations above.
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.
| Field | Value & quoted source | Page |
|---|---|---|
| Granting body | Hays County, TexasCHAPTER 381 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN HAYS COUNTY, TEXAS AND COSTCO WHOLESALE CORPORATION | 1 |
| Contracting entity | Costco Wholesale CorporationCHAPTER 381 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN HAYS COUNTY, TEXAS AND COSTCO WHOLESALE CORPORATION | 1 |
| Parent / guarantor | Not stated in the agreement | — |
| Instrument | Chapter 381 Economic Development AgreementCHAPTER 381 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN HAYS COUNTY, TEXAS AND COSTCO WHOLESALE CORPORATION | 1 |
| Governing chapter | Chapter 381, Local Government Code<<<PAGE 1>>> CHAPTER 381 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN HAYS COUNTY, TEXAS AND COSTCO WHOLESALE CORPORATION This Chapter 381 Economic Development Agreement (this “Agreement”) is entered into between Hays County, a political subdivision of the State of Texas (the “County’’) and Costco Wholesale Corporation, a Washington corporation (“Costco”). | — |
| Capital investment | Not stated in the agreement | — |
| Grant or incentive | Two Million, Five Hundred and Six Thousand, One Hundred and No/100 Dollars ($2,506,100)the County shall be obligated to pay to Costco payments based on Sales Tax Revenues as provided in this Article 5, in an amount up to but not to exceed a cumulative total amount of Two Million, Five Hundred and Six Thousand, One Hundred and No/100 Dollars ($2,506,100) | 6 |
| Jobs committed | Not stated in the agreement | — |
| Wage requirement | Not stated in the agreement | — |
| Square footage | One Hundred Fifty Thousand (150,000) square feetCostco Facility on the Costco Property containing at least One Hundred Fifty Thousand (150,000) square feet of Gross Leasable Space. | 4 |
| Acreage | 21 acresCostco has entered into an agreement to purchase approximately 21 acres of land | 1 |
| Performance deadline | Conditions Satisfaction Deadline defined term, not a covenantConditions Satisfaction Deadline shall mean the date that is 24 months after the date of the Costco Property Closing | 2 |
| Expiration | Term of Fifteen YearsTerm of Fifteen Years means a fifteen (15) year period commencing on the Sales Tax Effective Date and continuing for each consecutive year through the end of the fifteenth year. | 4 |
| Effective date | 4/26/21Date: 4/26/2) | 17 |
| Signatory | Pat Callanby Pat Callan Che Evy of Costco WhoTesale Corporation, a Washington corporation, on behalf of said corporation. | 17 |
| Chain status | Superseded by agreement 0007474 | — |
Agreement 0004435 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.
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.