The Abatement RegisterChambersAgreement 0010559
Texas Chapter 380 / 381 agreement · Chambers

RAVAGO AMERICAS, LLC.

Agreement 0010559, filed with the Texas Comptroller by CHAMBERS COUNTY, TEXAS.

$73,000,000committed capital investment
100%of County property taxes imposed on the Eligible Property Value abated
January 1, 2018performance deadline
The obligation

What the contract requires.

“Company or a Company Affiliate covenant to use Commercially Reasonable Efforts to substantially complete, or cause to be substantially completed, the Project on or before January 1, 2018”Executed agreement, p. 6
“Ravago will create over 100 new jobs to Chambers County within the first 2 years of the project’s iriception.”Executed agreement, p. 17
“with an estimated construction cost of $73,000,000”Executed agreement, p. 4
The repayment remedy

What happens if it is not met.

“if Company fails to meet the Construction Covenant, Company shal! 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%2018
100%2019
100%2020
100%2021
100%2022
100%2023
100%2024
100%2025
100%2026
100%2027

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, TEXASby and between RAVAGO AMERICAS, LLC., (“Company”), and CHAMBERS COUNTY, TEXAS (the “County”)1
Contracting entityRAVAGO AMERICAS, LLC.by and between RAVAGO AMERICAS, LLC., (“Company”), and CHAMBERS COUNTY, TEXAS1
Parent / guarantorRavago Holdings AmericaCompany Name: Ravago Real Estate, USA, Inc. (a wholly owned division of Ravago Holdings America)19
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$73,000,000with an estimated construction cost of $73,000,0004
Grant or incentiveNot stated in the agreement—
Jobs committed100 recital language, not a covenantRavago will create over 100 new jobs to Chambers County within the first 2 years of the project’s iriception.17
Wage requirement$45-30,000 /yearThe average wage is expected to be between $45-30,000 /year17
Square footage700,000 SFDevelop up to 700,000 SF of warehousing and administrative offices to support the operation17
Acreage170 acresAcquire approximately 170 acres of land in Cedar Port Industrial Park17
Performance deadlineJanuary 1, 2018Company or a Company Affiliate covenant to use Commercially Reasonable Efforts to substantially complete, or cause to be substantially completed, the Project on or before January 1, 20186
ExpirationNot stated in the agreement—
Effective dateJune 3, 2017entered into this {3 day June _ 2017 (the “Effective Date”)1
SignatorySEAN WILLIAMSName: SEAN Lr tlhiqns14
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 0010559 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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