The Abatement RegisterKendallAgreement 0006057
Texas Chapter 380 / 381 agreement · Kendall

BOERNE HOTEL, LTD.

Agreement 0006057, filed with the Texas Comptroller by KENDALL COUNTY, TEXAS.

50permanent jobs committed
75%of Yearly Appraised Values of the Property over FOUR HUNDRED TWENTY FOUR THOUSAND EIGHTY THREE DOLLARS AND NO/100s ($424,083.00) abated
March 31, 2019performance deadline
The obligation

What the contract requires.

“to have the Project fully operational and open for business on or before March 31, 2019”Executed agreement, p. 4
“The Company and/or one of its affiliate entities promises to employ at least 50 full-time or part-time employees at the Project site.”Executed agreement, p. 4
The repayment remedy

What happens if it is not met.

“If the County terminates this Agreement due to the Company’s Default of any Section 4 (Company Obligations) requirements, Company will reimburse the County for all abatements granted to Company under this Agreement with interest at the County’s weighted average yield of its investment portfolio from the date the abatement was granted to Company to the date of the repayment.”Executed agreement, p. 7

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 · Yearly Appraised Values of the Property over FOUR HUNDRED TWENTY FOUR THOUSAND EIGHTY THREE DOLLARS AND NO/100s ($424,083.00) · p. 6

What was abated, and for how long.

75%Year 1
75%Year 2
75%Year 3
75%Year 4
75%Year 5
75%Year 6
75%Year 7
75%Year 8
75%Year 9

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 bodyKENDALL COUNTY, TEXASECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN KENDALL COUNTY, TEXAS, AND BOERNE HOTEL, LTD.1
Contracting entityBOERNE HOTEL, LTD.ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN KENDALL COUNTY, TEXAS, AND BOERNE HOTEL, LTD.1
Parent / guarantorBoerne Hotel General Partner, LLCBy: Boerne Hotel General Partner, LLC10
Instrumenttax abatementthe Commissioners Court desires to provide, pursuant to Section 381.004, Texas Local Government Code, incentives to Company to develop the Property and the Project1
Governing chapterChapter 312, Tax Code, and Chapter 381, Local Government Code08-22-2016 electing to become eligible to participate in tax abatement, adopting tax abatement guidelines and criteria, and establishing a program to stimulate business and commercial activity in Kendall County, Texas as authorized by section Chapter 312, Texas Tax Code and Section 381.004, Texas Local Government;—
Capital investmentNot stated in the agreement—
Grant or incentiveNot stated in the agreement—
Jobs committedat least 50 full-time or part-time employeesThe Company and/or one of its affiliate entities promises to employ at least 50 full-time or part-time employees at the Project site.4
Wage requirementNot stated in the agreement—
Square footage7,150 sq. ft.The Company shall design and construct a conference center with a minimum square footage of 7,150 sq. ft.4
Acreage3.99 acresLots 5 and 6 (3.99 acres of land) of the Replat of Lot 3 of the HB Subdivision1
Performance deadlineMarch 31, 2019to have the Project fully operational and open for business on or before March 31, 20194
ExpirationNine (9) Years from the date of the first granting of ad valorem tax abatementNine (9) Years from the date of the first granting of ad valorem tax abatement by County to Company as described in this Agreement as set forth in Section 53
Effective datethirty (30) days after the Hotel and Conference Center’s opening date“Effective Date” means the date that is thirty (30) days after the Hotel and Conference Center’s opening date, as hereinafter defined, to the public.2
SignatoryEd McClureTO THE COMPANY: Ed McClure9
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 0006057 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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