The Abatement RegisterEl PasoAgreement 0005361
Texas Chapter 380 / 381 agreement · El Paso

EATON CORPORATION

Agreement 0005361, filed with the Texas Comptroller by COUNTY OF EL PASO, TEXAS.

$15,700,000.00committed capital investment
$297,869.26grant or incentive
75%of ad valorem property tax revenue abated
tenth (10th) anniversary of the commencement of the Grant Periodperformance deadline
The obligation

What the contract requires.

“shall conclude . on the earlier to occur of either the tenth (10th) anniversary of the commencement of the Grant Period”Executed agreement, p. 4
“FIFTEEN MILLION SEVEN HUNDRED THOUSAND AND 00/100 DOLLARS ($15,700,000.00)”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“Recapture and collect from COMPANY an amount equal to the amount actually paid to COMPANY for each Grant Period during which the uncured Event of Default was in existence”Executed agreement, p. 9

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. 3

What was abated, and for how long.

seventy-five percent (75%)ten (10) consecutive 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 bodyCOUNTY OF EL PASO, TEXASCOUNTY OF EL PASO, TEXAS1
Contracting entityEATON CORPORATIONEATON CORPORATION, an Ohio corporation, authorized to do business in Texas1
Parent / guarantorNot stated in the agreement—
InstrumentProperty Tax RebateProperty Tax Rebate3
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> Deol 20190012040 STATE OF TEXAS ) ) CHAPTER 381 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 EATON CORPORATION, an Ohio corporation, authorized to do business in Texas;—
Capital investment$15,700,000.00FIFTEEN MILLION SEVEN HUNDRED THOUSAND AND 00/100 DOLLARS ($15,700,000.00)3
Grant or incentive$297,869.26in no event shall exceed TWO HUNDRED NINETY SEVEN THOUSAND EIGHT HUNDRED SIXTY NINE AND 26/100 DOLLARS ($297,869.26)3
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footage264,432 sq. ft.a 264,432 sq. ft. facility18
Acreage29.84 acresa 29.84 acres site18
Performance deadlinetenth (10th) anniversary of the commencement of the Grant Periodshall conclude . on the earlier to occur of either the tenth (10th) anniversary of the commencement of the Grant Period4
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryBarbara D. DoverspikeBarbara D. Doverspike, Vice-President15
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 18

The Development includes the purchase of an existing building located at 7800 Trade Center Ave PID 244614. The subject property is a 29.84 acres site which includes a 264,432 sq. ft. facility that will be improved to accommodate the needs of a manufacturing plant for Eaton Corporation. Activities at the future Eaton Corporation facility will include the design, manufacture, assembly and testing of low voltage switchboards and motor control centers. New Equipment will be acquired to fulfill the needs of Eaton’s manufacturing facility.

Parcels · p. 18
244614
How to check this page

Every line above is in the contract.

Agreement 0005361 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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