The Abatement RegisterReevesAgreement 0004532
Texas Chapter 380 / 381 agreement · Reeves

Pecos Apartments, LLC

Agreement 0004532, filed with the Texas Comptroller by Reeves County.

$22,000,000committed capital investment
The obligation

What the contract requires.

“The Company will complete: the’ Developrient: on. or. betore March 3, , 2020.”Executed agreement, p. 3
“the construction hard and soft costs in completing the Development, currently estimated tobe ‘approximately $22,000,000”Executed agreement, p. 2

The date in this field is not fully supported by the sentence quoted beside it, usually because the scan is damaged or the contract states a period rather than a date. It is shown as read, flagged, and not relied on.

The repayment remedy

What happens if it is not met.

“Company must repay, 7 :.~ within-one hundred: twenty (120) calendar days following receipt of written demand from: ~> the County,:the aggregate amount of all Grant payments. received by :.Company hereunder, if any, plus. Simple'Interest at a rate’ of two. percent (2%) perannum.”Executed agreement, p. 5

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 · Reeves County property taxes assessed

What was abated, and for how long.

—fifteen (15) annual payments

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 bodyReeves CountyREEVES COUNTY AND PECOS APARTMENTS LLC1
Contracting entityPecos Apartments, LLCCompany, The word "Companiy" means, Pecos Apartments, LLC2
Parent / guarantorNewsome Development and InvestmentsPECOS APARTMENTS LLG, a Texas limited liability company (“Company”),.an affiliate: of Newsome Development and Investments1
InstrumentGrantGrant.. The ‘word "Grant":means a Grant from the County: payable to:Company2
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> an _Chapter 381: of the Texas Loeal'Government Code (hereinafter "Chapter 381");and = __ |REEVES COUNTY AND PECOS APARTMENTS LLC”.—
Capital investment$22,000,000the construction hard and soft costs in completing the Development, currently estimated tobe ‘approximately $22,000,0002
Grant or incentiveNot stated in the agreement—
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footageNot stated in the agreement—
Acreage6.71 acres6.71 acres ta:be acquired by Buyer for multifamily10
Performance deadlineMarch 31, 2020 date not fully supported by the quoted sentenceThe Company will complete: the’ Developrient: on. or. betore March 3, , 2020.3
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryBill NewsomeAttn: Bill Newsome7
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 0004532 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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