The Abatement RegisterChambersAgreement 0010721
Texas Chapter 380 / 381 agreement · Chambers

Clay Partners — Cedar Port Distribution #5, L.P.

Agreement 0010721, filed with the Texas Comptroller by Chambers County, Texas.

$42,500,000committed capital investment
50–100%of County Property Taxes imposed on the Eligible Property Value abated
January 1, 2023performance deadline
The obligation

What the contract requires.

“CPD5 or a CPDS5 Affiliate covenant to substantially complete, or cause to be substantially completed, the Distribution Facility on or before January 1, 2023”Executed agreement, p. 5
“at least twenty (20) Permanent Employee positions will be created”Executed agreement, p. 6
“Building S 42,500,000”Executed agreement, p. 60
The repayment remedy

What happens if it is not met.

“CPD5 or CPD5 Assignee shall repay all taxes previously abated by virtue of this Agreement with interest at the rate of three percent (3%) per annum”Executed agreement, p. 6

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%2024
50%2025
50%2026
50%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, TexasChambers County, Texas (“County”)1
Contracting entityClay Partners — Cedar Port Distribution #5, L.P.Clay Partners — Cedar Port Distribution #5, L.P. (FKA Clay Partners — Cedar Port Phase III #2, L.P.), a Texas limited partnership (“CPD5")1
Parent / guarantorClay Development & Construction, Inc.Clay Development & Construction, Inc. 1244 N. Post Oak Road, Suite 200 Houston, TX 77055 Attention: Louis B. Sullivan Ill, Vice President8
InstrumentChapter 381 Economic Development Program AgreementECONOMIC DEVELOPMENT PROGRAM AGREEMENT1
Governing chapterChapter 312, Tax Code, and Chapter 381, Local Government Codef Chambers County, Texas (“County Commissioners Court’) is authorized to develop and administer a program for entering into a tax abatement agreement with an owner or lessee of a property interest subject to ad valorem taxation, provided the execution, duration, and other terms of the agreement are governed, to the extent practicable, by the provisions of Sections 312.204, 312.205, and 312.211 of —
Capital investment$42,500,000Building S 42,500,00060
Grant or incentiveNot stated in the agreement—
Jobs committedat least twenty (20) Permanent Employee positions recital language, not a covenantat least twenty (20) Permanent Employee positions will be created6
Wage requirementNot stated in the agreement—
Square footage405,000 sq. ft.It is a 405,000 sq. ft. building59
Acreage49.0420 acres49.0420-acre tract of land20
Performance deadlineJanuary 1, 2023CPD5 or a CPDS5 Affiliate covenant to substantially complete, or cause to be substantially completed, the Distribution Facility on or before January 1, 20235
ExpirationNot stated in the agreement—
Effective dateDecember 27, 2022WHEREAS, on December 27, 2022, by Order, the County authorized the execution of a Chapter 381 Economic Development Program Agreement62
SignatoryLouis B. Sullivan, IllName: Lowrs 8. Pollen oe13
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
Parcels · p. 22
R28485 · R1026 · R21748
How to check this page

Every line above is in the contract.

Agreement 0010721 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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