The Abatement RegisterChambersAgreement 0010560
Texas Chapter 380 / 381 agreement · Chambers

VINMAR PROPERTIES, LTD

Agreement 0010560, filed with the Texas Comptroller by CHAMBERS COUNTY, TEXAS.

$24,000,000committed capital investment
100%of County property taxes abated
June 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 June 1, 2018”Executed agreement, p. 14
“Company agrees to create employment at the Project for at least five people on a permanent basis.”Executed agreement, p. 14
“Project” means the new plastics warehousing, logistics, and blending facility to be constructed by Company in the Cedar Port Industrial Park in Chambers County, Texas with an estimated construction cost of $24,000,000”Executed agreement, p. 12
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. 16

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 · p. 3

What was abated, and for how long.

100%2020
100%2021
100%2022
100%2023
100%2024
100%2025
100%2026
100%2027
100%2028
100%2029

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 the COUNTY OF CHAMBERS, TEXAS (the “COUNTY”)1
Contracting entityVINMAR PROPERTIES, LTDby and between the COUNTY OF CHAMBERS, TEXAS (the “COUNTY”) and VINMAR PROPERTIES, LTD (the “COMPANY”).1
Parent / guarantorVinmar International LtdVinmar International Ltd, a member of the Vinmar Group is pleased to submit its Application for Tax Abatement37
InstrumentTax Abatement AgreementECONOMIC DEVELOPMENT PROGRAM AND TAX ABATEMENT AGREEMENT9
Governing chapterChapter 312, Tax Code, and Chapter 381, Local Government CodeTerms of Tax Abatement The County hereby grants to Company tax abatement under Chapter 381 and Chapter 312 with respect to the Project.—
Capital investment$24,000,000Project” means the new plastics warehousing, logistics, and blending facility to be constructed by Company in the Cedar Port Industrial Park in Chambers County, Texas with an estimated construction cost of $24,000,00012
Grant or incentiveNot stated in the agreement—
Jobs committed5 figure does not appear in the sentence quoted beside itCompany agrees to create employment at the Project for at least five people on a permanent basis.14
Wage requirementNot stated in the agreement—
Square footage500,000Approximately 500,000 square feet of Class A Distribution Space37
Acreage40.134VINMAR PROPERTIES LTD PROPERTY DESCRIPTION 40.123 ACRE TRACT47
Performance deadlineJune 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 June 1, 201814
ExpirationDecember 31, 2029The tax abatement shall begin on January 1, 2020, and shall continue for ten years3
Effective dateJanuary 5, 2018This Economic Development Program and Tax Abatement Agreement (“Agreement”) is entered into this 5 day of January, 2018 (the “Effective Date”)1
SignatoryThomas Wellsby Thomas Wells , as U Authonzeda S Galore of Vinmar Properties, Ltd.7
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Project components · p. 12

new plastics warehousing, logistics, and blending facility

How to check this page

Every line above is in the contract.

Agreement 0010560 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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