The Abatement RegisterChambersAgreement 0010532
Texas Chapter 380 / 381 agreement · Chambers

AIR PRODUCTS LLC

Agreement 0010532, filed with the Texas Comptroller by CHAMBERS COUNTY, TEXAS.

$339,306,065committed capital investment
100%of County property taxes imposed on the Eligible Property Value abated
January 1, 2019performance deadline
The obligation

What the contract requires.

“to be substantially completed, the Project on or before January 1, 2019”Executed agreement, p. 6
“will create approximately 550 construction jobs and 11 new full-time jobs.”Executed agreement, p. 21
“with an estimated construction cost of $339,306,065”Executed agreement, p. 4
The repayment remedy

What happens if it is not met.

“if Company fails to meet the Construction Covenant, Company shall repay to the County, without penalty or interest, all tax abatements received under this Agreement”Executed agreement, p. 8

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 property taxes imposed on the Eligible Property Value · p. 5

What was abated, and for how long.

100%2017
100%2018
100%2019
100%2020
100%2021
100%2022
100%2023
100%2024
100%2025
100%2026

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 bodyCHAMBERS COUNTY, TEXASAIR PRODUCTS LLC., (“Company”), and CHAMBERS COUNTY, TEXAS (the “County”)1
Contracting entityAIR PRODUCTS LLCAIR PRODUCTS LLC., (“Company”), and CHAMBERS COUNTY, TEXAS (the “County”)1
Parent / guarantorAir Products and Chemicals, Inc.The facility would be built by Air Products LLC, a subsidiary of Air Products and Chemicals, Inc.20
InstrumentEconomic Development Program and Tax Abatement AgreementECONOMIC DEVELOPMENT PROGRAM AND TAX ABATEMENT AGREEMENT1
Governing chapterChapter 312, Tax Code, and Chapter 381, Local Government CodeSection 52-A of the Texas Constitution and Chapter 381 of the Texas Local Government Code (“Chapter 381”) authorize the County Commissioners Court of Chambers County, Texas (“County Commissioners Court’) to develop and administer a program to provide grants or incentives of public money to promote local economic development and to stimulate business and commercial activity in Chambers County, and —
Capital investment$339,306,065with an estimated construction cost of $339,306,0654
Grant or incentiveNot stated in the agreement—
Jobs committed11 recital language, not a covenant; construction-period jobs, not permanent positionswill create approximately 550 construction jobs and 11 new full-time jobs.21
Wage requirementNot stated in the agreement—
Square footageNot stated in the agreement—
Acreage9.524on a 9.524-acre plot at Covestro’s site in Baytown, Chambers County.20
Performance deadlineJanuary 1, 2019to be substantially completed, the Project on or before January 1, 20196
Expiration2026The tax abatement shall begin on January 1, 2017, and shall continue for ten years5
Effective dateApril, 2016entered into this | day of April, 2016 (the “Effective Date”)1
SignatoryCharles G. StinnerName: Charles G. Stinner14
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 0010532 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]