The Abatement RegisterBexarAgreement 0007977
Texas Chapter 380 / 381 agreement · Bexar

Amstar/TW Southtown, LLC

Agreement 0007977, filed with the Texas Comptroller by County of Bexar.

$28,200,000.00committed capital investment
50%of Ad Valorem Taxes paid on the increase in the assessed value over and above the Base Year Value abated
December 31, 2016performance deadline
The obligation

What the contract requires.

“all of the capital investments contemplated by this Paragraph 5.02 must be substantially complete on or before December 31, 2016”Executed agreement, p. 6
“capital investment in the Real Property and Eligible Improvements over and above the Base Y ear Value shall be in an amount not less than TWENTY-EIGHT MILLION TWO HUNDRED THOUSAND DOLLARS ($28,200,000.00)”Executed agreement, p. 6
The repayment remedy

What happens if it is not met.

“REPAY MENT SCHEDULE Year in which Default Notice Resulting in De otal Value of all E conomc Termination is Sent evelopment G rants Received Shall be Multiplied by During the Economic Development Grant Period 100% Y ear 1 of the Repayment Period 100% Y ear 2 of the Repayment Period 80% Y ear 3 of the Repayment Period 60% Y ear 4 of the Repayment Period 40% Y ear 5 of the Repayment Period 20% Y ear 6 of the Repayment P”Executed agreement, p. 9

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 Taxes paid on the increase in the assessed value over and above the Base Year Value · p. 4

What was abated, and for how long.

FIFTY PERCENT (50%)2016

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 Bexarbetween the County of Bexar, a political subdivision of the State of Texas ("COUNTY")1
Contracting entityAmstar/TW Southtown, LLCand Amstar/TW Southtown, LLC, a Delaware limited liability company1
Parent / guarantorTranswestern Development Company, L.L.C.If to DEVELOPER: Development Coordinator Transwestern Development Company, L.L.C.10
InstrumentEconomic Development Grant"Economic Development Grant" for purposes of this Agreement shall mean an annual grant of funds3
Governing chapterChapter 381, Local Government CodeWITNESSETH: WHEREAS, pursuant to the authority granted under Article 3, Section 52-a of the Texas Constitution, the Texas Legislature has determined through Section 381.004(b)(1) and (3) of the Texas Local Government Code (“Code”) that a public purpose is served by a county stimulating business and commercial activity by developing and administering a program for: state and local economic developm—
Capital investment$28,200,000.00capital investment in the Real Property and Eligible Improvements over and above the Base Y ear Value shall be in an amount not less than TWENTY-EIGHT MILLION TWO HUNDRED THOUSAND DOLLARS ($28,200,000.00)6
Grant or incentiveNot stated in the agreement—
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footageNot stated in the agreement—
Acreage2.294 acresOf a 2.294 acre tract of land located in the City of San Antonio, Bexar County, Texas16
Performance deadlineDecember 31, 2016all of the capital investments contemplated by this Paragraph 5.02 must be substantially complete on or before December 31, 20166
ExpirationDecember 31, 2031continue through December 31, 20314
Effective dateApril 21, 2015effective this ZIST day of _APRIvL , 2015.13
SignatoryWilliam T. PuckettWILLIAM T. PUCKETT, Executive Vice President13
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 1

at least 200 apartment units

Parcels · p. 26
02569 · 0320 · 02569 · 0330 · 02569 · 0340
How to check this page

Every line above is in the contract.

Agreement 0007977 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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