The Abatement RegisterEl PasoAgreement 0005367
Texas Chapter 380 / 381 agreement · El Paso

FOSTER ELECTRIC (U.S.A.), INC.

Agreement 0005367, filed with the Texas Comptroller by COUNTY OF EL PASO, TEXAS.

$4,253,800.00committed capital investment
$89,965.05grant or incentive
75%of incremental ad valorem property tax revenue abated
The obligation

What the contract requires.

“Total 63 72 72”Executed agreement, p. 19
“Qualified Expenditures of not less than FOUR MILLION TWO HUNDRED FIFTY-THREE THOUSAND EIGHT HUNDRED DOLLARS ($4,253,800.00)”Executed agreement, p. 5
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 (the “Recapture Amount”);”Executed agreement, p. 10

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 · incremental ad valorem property tax revenue · p. 4

What was abated, and for how long.

75%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 bodyCOUNTY OF EL PASO, TEXASCOUNTY OF EL PASO, TEXAS ("COUNTY"), a political subdivision of the State of Texas1
Contracting entityFOSTER ELECTRIC (U.S.A.), INC.FOSTER ELECTRIC (U.S.A.), INC., an Illinois corporation authorized to do business in Texas1
Parent / guarantorNot stated in the agreement—
InstrumentChapter 381 Economic Development Program AgreementThis Chapter 381 Economic Development Program Agreement ("Agreement")1
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> Doct 20190010198 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 FOSTER ELECTRIC (U.S.A.), INC., an Illinois corporation authorized to do bus—
Capital investment$4,253,800.00Qualified Expenditures of not less than FOUR MILLION TWO HUNDRED FIFTY-THREE THOUSAND EIGHT HUNDRED DOLLARS ($4,253,800.00)5
Grant or incentive$89,965.05in no event shall exceed EIGHTY NINE THOUSAND NINE HUNDRED SIXTY FIVE AND 05/100 DOLLARS ($89,965.05) over the term of this Agreement.3
Jobs committed72 figure taken from a schedule, not from covenant languageTotal 63 72 7219
Wage requirement$13.50 per hourpaid at the Median County Wage of $13.50 per hour3
Square footage144,361 sq. ft.The existing property is a 9.1 acre site which includes a 144,361 sq. ft. facility18
Acreage9.1 acreThe existing property is a 9.1 acre site18
Performance deadlineNot stated in the agreement—
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryEugene FraczkowskiName: Eugene Fraczkowski, Asst Secretary / CFO16
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 18

Building improvements include build outs of additional office space, production area, and utility upgrades in preparation for the production with highly automated manufacturing equipment.

Parcels · p. 18
323906
How to check this page

Every line above is in the contract.

Agreement 0005367 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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