The Abatement RegisterEl PasoAgreement 0005378
Texas Chapter 380 / 381 agreement · El Paso

Classic Industries, Inc.

Agreement 0005378, filed with the Texas Comptroller by COUNTY OF EL PASO, TEXAS.

$8,674,000.00committed capital investment
$150,598.99grant or incentive
75%of incremental ad valorem property tax revenue abated
one (1) years of the Effective Dateperformance deadline
The obligation

What the contract requires.

“Failure of the COMPANY to receive its Certificate of Completion within one (1) years of the Effective Date of this Agreement”Executed agreement, p. 5
“Existing Jobs 110 160 214 New Jobs 50 54 0 Total 160 214 214”Executed agreement, p. 21
“Qualified expenditures to evidence eight million six hundred seventy four thousand dollars ($8,674,000.00)”Executed agreement, p. 20
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. 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")1
Contracting entityClassic Industries, Inc.Classic Industries, Inc. dba Technimark1
Parent / guarantorTechnimark, LLCTECHNIMARK, LLC Attn: Robert Burkhart SVP-Finance14
InstrumentProperty Tax RebateProperty Tax Rebate. The words “Property Tax Rebate” mean a rebate equal to seventy five percent (75%) of the COUNTY’s portion of the incremental ad valorem property tax revenue4
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> Doct 2O0L900735268 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 Classic Industries, Inc.—
Capital investment$8,674,000.00Qualified expenditures to evidence eight million six hundred seventy four thousand dollars ($8,674,000.00)20
Grant or incentive$150,598.99which in no event shall exceed ONE HUNDRED FIFTY THOUSAND FIVE HUNDRED NINETY EIGHT AND 99/100 DOLLARS ($150,598.99)3
Jobs committed214 the quoted sentence states no obligationExisting Jobs 110 160 214 New Jobs 50 54 0 Total 160 214 21421
Wage requirement$23,670.00have an overall gross weighted average wage of $ $23,670.00 for the Term of this Agreement21
Square footageNot stated in the agreement—
Acreage7.5505 AC1 PAN AMERICAN COMMERCE PARK E PT OF 1 (799.07’ON S-398.09°ON W-834.60’ON N-379.23’ON E) (7.5505 AC)19
Performance deadlineone (1) years of the Effective DateFailure of the COMPANY to receive its Certificate of Completion within one (1) years of the Effective Date of this Agreement5
ExpirationNot stated in the agreement—
Effective dateAugust 09, 2019This instrument was acknowledged before me on the 09 day of August 2019, by Robert Burkhart17
SignatoryRobert BurkhartName: Robert Burkhart SVP-Finance17
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 0005378 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.

[email protected]