The Abatement RegisterEl PasoAgreement 0005394
Texas Chapter 380 / 381 agreement · El Paso

MARMAXX OPERATING CORP.

Agreement 0005394, filed with the Texas Comptroller by El Paso County, TEXAS.

$150,000,000.00committed capital investment
$700,000.00grant or incentive
950permanent jobs committed
50–90%of County’s portion of the incremental ad valorem property tax revenue abated
forty-eight (48) months after the Effective Dateperformance deadline
The obligation

What the contract requires.

“Within forty-eight (48) months after the Effective Date, Company shall submit documentation to the County to verify the following”Executed agreement, p. 5
“After Year 5, Company will retain 950 full-time jobs”Executed agreement, p. 19
“Minimum Investment. The words “Minimum Investment” means...For purposes of this Agreement, the Minimum Investment is $150,000,000.00.”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“the County reserves the right to recapture an amount equal to the product of the amount of previously awarded Grant payments”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 · County’s portion of the incremental ad valorem property tax revenue · p. 3

What was abated, and for how long.

90%years one (1) to five (5)
75%years six (6) to ten (10)
50%years eleven (11) to fifteen (15)

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 entityMARMAXX OPERATING CORP.MARMAXX OPERATING CORP. (“Company”), a Virginia corporation, authorized to do business in Texas1
Parent / guarantorThe TJX Companies, Inc.Marmaxx Operating Corp. c/o The TJX Companies, Inc.13
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 OF EL PASO _) PROGRAM AGREEMENT This Chapter 381 Economic Development Program Agreement (“Agreement”) is made and entered into as of , 2020 (the “Effective Date”) by and between El Paso County, TEXAS (“County”), a political subdivision of the State of Texas, and MARMAXX OPERATING CORP.—
Capital investment$150,000,000.00Minimum Investment. The words “Minimum Investment” means...For purposes of this Agreement, the Minimum Investment is $150,000,000.00.3
Grant or incentive$700,000.00Grant. The word “Grant” means payments to the Company under the terms of this Agreement in an amount not to exceed Seven Hundred Thousand Dollars ($700,000.00)3
Jobs committed950After Year 5, Company will retain 950 full-time jobs19
Wage requirement$32.00 per hour150 full-time jobs will pay a minimum average wage of $32.00 per hour19
Square footage2,023,848 square feetUpon full build-out, the development’s internal square footage is anticipated to be approximately 2,023,848 square feet.17
Acreage201.93 acrescomprised of approximately 201.93 acres of land16
Performance deadlineforty-eight (48) months after the Effective DateWithin forty-eight (48) months after the Effective Date, Company shall submit documentation to the County to verify the following5
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryDavid L. AverillNAME: David L. Averill15
Chain statusSuperseded by agreement 0012284—
How to check this page

Every line above is in the contract.

Agreement 0005394 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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