The Abatement RegisterWilliamsonAgreement 0005253
Texas Chapter 380 / 381 agreement · Williamson

KR Acquisitions, LLC

Agreement 0005253, filed with the Texas Comptroller by Williamson County, Texas.

$350,000,000committed capital investment
50%of Ad Valorem Property Tax revenue abated
December 22, 2022performance deadline
The obligation

What the contract requires.

“not later than December 22, 2022, subject to (a) the City satisfying its obligations under the Master Development Agreement”Executed agreement, p. 3
“the Developer intends to employ at least 700 full time equivalent employees”Executed agreement, p. 1
“the Developer intends to invest or cause to be invested a minimum of $350,000,000 in the Property”Executed agreement, p. 1
The repayment remedy

What happens if it is not met.

“the County may recapture and collect from the Developer the Recapture Liability”Executed agreement, p. 6

The remedy here is discretionary — the clause says it may be applied, not that it must be.

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 · Ad Valorem Property Tax revenue · p. 7

What was abated, and for how long.

50%15 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 bodyWilliamson County, TexasWilliamson County, Texas, a Texas political subdivision, (the "County")1
Contracting entityKR Acquisitions, LLCKR Acquisitions, LLC, a Delaware limited liability Developer (the "Developer")1
Parent / guarantorKR CC, INC.the Developer, and KR CC, INC., a Delaware corporation dated December 15, 2016.3
InstrumentEconomic Development Program AgreementThis Economic Development Program Agreement (this "Agreement")1
Governing chapterChapter 381, Local Government Codeand WHEREAS, the purpose of this Agreement is to promote economic development as contemplated by Chapter 381 of the Texas Local Government Code whereby the Developer intends to operate the Project in conformance with the terms and conditions stated herein, and;—
Capital investment$350,000,000the Developer intends to invest or cause to be invested a minimum of $350,000,000 in the Property1
Grant or incentiveNot stated in the agreement—
Jobs committed700 recital language, not a covenantthe Developer intends to employ at least 700 full time equivalent employees1
Wage requirementNot stated in the agreement—
Square footage150,000The Convention Center shall have a minimum of 150,000 square feet of indoor convention, exhibition, and meeting space.4
Acreage351.7the construction of a master-planned mixed use project on approximately 351.7 acres of land1
Performance deadlineDecember 22, 2022not later than December 22, 2022, subject to (a) the City satisfying its obligations under the Master Development Agreement3
ExpirationDecember 20, 2031This Agreement shall terminate fifteen (15) years after the Effective Date11
Effective dateDecember 20, 2016this "Agreement") is entered into this 20th day of December, 2016 (the "Effective Date")1
SignatoryTodd NelsonTodd Nelson, President13
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 0005253 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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