The Abatement RegisterAndrewsAgreement 0004777
Texas Chapter 380 / 381 agreement · Andrews

Prospero Energy Project, LLC

Agreement 0004777, filed with the Texas Comptroller by Andrews County, Texas.

$300,000,000.00committed capital investment
80%of Certified Appraised Value of all Improvements abated
June 30, 2020performance deadline
The obligation

What the contract requires.

“constructing the Phase 1 Improvements by June 30, 2020”Executed agreement, p. 10
“PROSPERO 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
“PROSPERO ENERGY will invest an amount estimated to be three hundred million and zero one hundredths dollars ($300,000,000.00) in the Improvements”Executed agreement, p. 5
The repayment remedy

What happens if it is not met.

“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

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, TexasAndrews County, Texas, (“County”), acting through its duly elected officers2
Contracting entityProspero Energy Project, LLCProspero Energy Project, LLC, a Delaware limited liability company, (“Prospero Energy”)2
Parent / guarantorNot stated in the agreement—
InstrumentTax Abatement AgreementAMENDED AND RESTATED TAX ABATEMENT AGREEMENT1
Governing chapterChapter 312, Tax Code (property tax abatement)WHEREAS, the County duly approved and executed that certain Tax Abatement Agreement between the County and PROSPERO ENERGY dated effective as of June 12, 2017 (the “Original Abatement”), and, after proper notice of public hearing and compliance with Chapter 312 of the Texas Tax Code, County and PROSPERO ENERGY now wish to amend and restate the Original Abatement in its entirety as set forth herein—
Capital investment$300,000,000.00PROSPERO ENERGY will invest an amount estimated to be three hundred million and zero one hundredths dollars ($300,000,000.00) in the Improvements5
Grant or incentiveNot stated in the agreement—
Jobs committed1 recital language, not a covenantPROSPERO 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$52,000shall 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 deadlineJune 30, 2020constructing the Phase 1 Improvements by June 30, 202010
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryJeneane AndereggName: Jeneane Anderegg19
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 36

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

How to check this page

Every line above is in the contract.

Agreement 0004777 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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