The Abatement RegisterEl PasoAgreement 0005379
Texas Chapter 380 / 381 agreement · El Paso

EPT Loop 375 Pellicano, LLC

Agreement 0005379, filed with the Texas Comptroller by El Paso County, TEXAS.

$83,000,000.00committed capital investment
$2,585,038.56grant or incentive
75%of ad valorem real property tax increment abated
7 years from the Effective Dateperformance deadline
The obligation

What the contract requires.

“The Applicant or its Affiliate shall complete the Development within seven (7) years of the Effective Date of this Agreement”Executed agreement, p. 4
“The total Minimum Investment for this Property will, in no instance, be less than Eighty Three Million and 00/100 Dollars ($83,000,000.00).”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“Recapture and collect from Applicant an amount equal to the amount actually paid to Applicant 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 · ad valorem real property tax increment · p. 3

What was abated, and for how long.

75%15 consecutive 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 bodyEl Paso County, TEXASEl Paso County, TEXAS (“County”), a political subdivision of the State of Texas1
Contracting entityEPT Loop 375 Pellicano, LLCEPT Loop 375 Pellicano, LLC (“Applicant”), a Limited Liability Applicant 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>>> STATE OF TEXAS ) ) CHAPTER 381 ECONOMIC DEVELOPMENT COUNTY OFEL PASO ) PROGRAM AGREEMENT This Chapter 381 Economic Development Program Agreement (“Agreement”) is made and entered into by and between El Paso County, TEXAS (“County”), a political subdivision of the State of Texas, and EPT Loop 375 Pellicano, LLC (“Applicant”), a Limited Liability Applicant authorized to do business in T—
Capital investment$83,000,000.00The total Minimum Investment for this Property will, in no instance, be less than Eighty Three Million and 00/100 Dollars ($83,000,000.00).3
Grant or incentive$2,585,038.56Applicant is eligible to receive up to Two Million Five Hundred Eighty Five Thousand Thirty Eight and 56/100 Dollars ($2,585,038.56).3
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footage543,700Approximately Five Hundred Forty Three Thousand Seven Hundred (543,700) square feet of new construction18
Acreage30.0000 AcresSaid parcel of land containing 30.0000 Acres (1,306,809.24 sq. ft.) of land, more or less.17
Performance deadline7 years from the Effective DateThe Applicant or its Affiliate shall complete the Development within seven (7) years of the Effective Date of this Agreement4
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryRichard AguilarName: Richard Aguilar16
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 18

1,000 Seat, 10 screen Cinema, with Imax screen and full reclining seats, Approximately 120 hotel rooms, Approximately 250 units Class A apartment community, Approximately 150,700 sq. ft. of retail space to include restaurants and bars.

How to check this page

Every line above is in the contract.

Agreement 0005379 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]