The Abatement RegisterAndrewsAgreement 0004715
Texas Chapter 380 / 381 agreement · Andrews

Lapetus Energy Project, LLC

Agreement 0004715, filed with the Texas Comptroller by Andrews County, Texas.

$120,000,000.00committed capital investment
80%of Certified Appraised Value of all Improvements abated
December 31, 2019performance deadline
The obligation

What the contract requires.

“LAPETUS ENERGY agrees to use commercially reasonable efforts to construct and to install Phase 1 of the Project and provide the Certificate to County no later than December 31, 2019 (the “Completion Deadline”).”Executed agreement, p. 10
“LAPETUS ENERGY covenants and agrees if it constructs the Project at the Site to create and maintain throughout the Term of this Agreement no fewer than one (1) new permanent job”Executed agreement, p. 9
“LAPETUS ENERGY will invest an amount estimated to be one hundred and twenty million and zero one hundredths dollars ($120,000,000.00) in the Improvements and control (acquisition or lease) of the Site for the Business Activities”Executed agreement, p. 7
The repayment remedy

What happens if it is not met.

“RECAPTURE. County shall be entitled to recapture property tax revenue lost as a result of this Agreement”Executed agreement, p. 14

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 · Certified Appraised Value of all Improvements · p. 11

What was abated, and for how long.

80%10 years

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 bodyAndrews County, TexasTHIS AMENDED AND RESTATED TAX ABATEMENT AGREEMENT (the “Agreement”), effective as of the last date set forth on the signature page hereto (the “Effective Date”), is made and entered into by and between Andrews County, Texas, (“County”), acting through its duly elected officers and Lapetus Energy Project, LLC, a Delaware limited liability company, (“Lapetus Energy”)3
Contracting entityLapetus Energy Project, LLCTHIS AMENDED AND RESTATED TAX ABATEMENT AGREEMENT (the “Agreement”), effective as of the last date set forth on the signature page hereto (the “Effective Date”), is made and entered into by and between Andrews County, Texas, (“County”), acting through its duly elected officers and Lapetus Energy Project, LLC, a Delaware limited liability company, (“Lapetus Energy”)3
Parent / guarantorDuke Energy RenewablesENERGY. Duke Energy Renewables1
InstrumentTax Abatement AgreementAMENDED AND RESTATED TAX ABATEMENT AGREEMENT2
Governing chapterChapter 312, Tax Code (property tax abatement)WHEREAS, the County duly approved and executed that certain Tax Abatement Agreement between the County and LAPETUS ENERGY dated effective as of November 27, 2017 (the “Original Abatement”), and, after proper notice of public hearing and compliance with Chapter 312 of the Texas Tax Code, County and LAPETUS ENERGY now wish to amend and restate the Original Abatement in its entirety as set forth here—
Capital investment$120,000,000.00LAPETUS ENERGY will invest an amount estimated to be one hundred and twenty million and zero one hundredths dollars ($120,000,000.00) in the Improvements and control (acquisition or lease) of the Site for the Business Activities7
Grant or incentiveNot stated in the agreement—
Jobs committed1 recital language, not a covenantLAPETUS ENERGY covenants and agrees if it constructs the Project at the Site to create and maintain throughout the Term of this Agreement no fewer than one (1) new permanent job9
Wage requirement$52,000which job (i) shall be a new employment position, (ii) shall enjoy no fewer than one thousand eight hundred twenty (1,820) hours of work annually, (iii) shall be paid no less than approximately fifty-two thousand dollars ($52,000) per year9
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineDecember 31, 2019LAPETUS ENERGY agrees to use commercially reasonable efforts to construct and to install Phase 1 of the Project and provide the Certificate to County no later than December 31, 2019 (the “Completion Deadline”).10
ExpirationNot stated in the agreement—
Effective dateSeptember 24 , 2018DATED September 24 , 20182
SignatoryCA, Ss Lt beBy: Name: CA, Ss Lt be Title: Kes ihen VA21
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 38

1) Solar modules/panels 2) Steel/aluminum/other metal mounting system with tracking capabilities 3) Underground conduit, communication cables, and electrical collection system wiring 4) Multiple combiner boxes 5) One or multiple project substation(s) including breakers, a transformer, and meters 6) Collection substation will be connected to utility interconnection by an above ground transmission line 7) Inverter boxes on concrete or gravel pads 8) Operations and maintenance facility 9) Fencing for safety and security 10) Telephone system 11) New or improved access and service roads 12) Meteorological equipment to measure solar irradiation and weather conditions

Parcels · p. 23
1675
How to check this page

Every line above is in the contract.

Agreement 0004715 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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