The Abatement RegisterEl PasoAgreement 0005330
Texas Chapter 380 / 381 agreement · El Paso

WESTSTAR TOWER, LLC

Agreement 0005330, filed with the Texas Comptroller by COUNTY OF EL PASO, TEXAS.

75%of County’s portion of the property taxes, both personal and real, generated by and timely collected from the Property above the Base Year Value abated
four (4) years of the Effective Dateperformance deadline
The obligation

What the contract requires.

“Failure of the Company to acquire its Certificate of Occupancy for the beneficial occupancy of the core and shell of the Building within four (4) years of the Effective Date of this Agreement shall result in the automatic termination of this Agreement.”Executed agreement, p. 4
The repayment remedy

What happens if it is not met.

“Upon giving the Notice of Termination the County’s obligations under this Agreement shall immediately end and as its sole and exclusive right and remedy, the County may (i) recapture any previous Grant payments made to Company and (ii) the Company agrees to pay County within sixty (60) days from the date of the Company’s receipt of the Notice of Termination an amount equal to the full amount of any real and personal ”Executed agreement, p. 9

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 · County’s portion of the property taxes, both personal and real, generated by and timely collected from the Property above the Base Year Value · p. 3

What was abated, and for how long.

seventy-five percent (75%)up to fifteen (15) annual payments for real Property Tax Rebates and ten (10) annual payments for personal Property Tax Rebates

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 bodyCOUNTY OF EL PASO, TEXASthe COUNTY OF EL PASO, TEXAS (“County”), a political subdivision of the State of Texas1
Contracting entityWESTSTAR TOWER, LLCWESTSTAR TOWER, LLC (“Company”), a Delaware limited liability company1
Parent / guarantorHunt ELP, Ltd.By: Hunt ELP, Ltd., a Texas limited partnership, Member15
InstrumentChapter 381 Economic Development Program AgreementThis Chapter 381 Economic Development Program Agreement (“Agreement’’) is made and entered into by and between the COUNTY OF EL PASO, TEXAS (“County”), a political subdivision of the State of Texas, and WESTSTAR TOWER, LLC (“Company”), a Delaware limited liability company1
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> Dectt 20180043311 STATE OF TEXAS ) ) CHAPTER 3381 ECONOMIC DEVELOPMENT COUNTY OF EL PASO ) PROGRAM AGREEMENT This Chapter 381 Economic Development Program Agreement (“Agreement’’) is made and entered into by and between the COUNTY OF EL PASO, TEXAS (“County”), a political subdivision of the State of Texas, and WESTSTAR TOWER, LLC (“Company”), a Delaware limited liability company, for —
Capital investmentNot stated in the agreement—
Grant or incentiveTWO MILLION, NINE HUNDRED THIRTY-FOUR THOUSAND, SEVEN HUNDRED TWENTY-ONE and 72/100 DOLLARS ($2,934,721.72)Grant. Means each annual reimbursement of property taxes made to Company under the terms of this Agreement computed Property Tax Rebate, which in no event shall exceed [TWO MILLION, NINE HUNDRED THIRTY-FOUR THOUSAND, SEVEN HUNDRED TWENTY-ONE and 72/100 DOLLARS ($2,934,721.72)] over the Term of this Agreement.3
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footage250,000construct a 250,000 square foot office building (“Building”).16
Acreage1.552The Development is estimated to require 1.552 acres of property.imgsder to construct a 250,000 square foot office building (“Building”).16
Performance deadlinefour (4) years of the Effective DateFailure of the Company to acquire its Certificate of Occupancy for the beneficial occupancy of the core and shell of the Building within four (4) years of the Effective Date of this Agreement shall result in the automatic termination of this Agreement.4
ExpirationnullTerm of the Agreement. Means a period of up to 20 years from the Effective Date of this Agreement.3
Effective datenullEffective Date. The date that the latter of Company and County has fully executed this Agreement.2
SignatoryJuan Gonzalez-GarzaName: WAN GOs ALTA,15
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 0005330 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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