The Abatement RegisterMcAllenAgreement 0011767
Texas Chapter 380 / 381 agreement · McAllen

KFLP Equity 3, LLC

Agreement 0011767, filed with the Texas Comptroller by City of McAllen.

50%of Approved Project abated
ninety (90) days after Commencementperformance deadline
The obligation

What the contract requires.

“PROPERTY OWNER must satisfy all CITY building requirements and pass CITY’s final inspection for the Approved Project on or before ninety (90) days after Commencement.”Executed agreement, p. 4
The remedy

What the contract says happens.

“It is an event of default if PROPERTY OWNER fails to enter Commencement of the Approved Project, and PROPERTY OWNER will not be entitled to any Incentives. To the extent that any Incentives have been distributed or paid to PROPERTY OWNER the same shall be returned to CITY immediately upon demand.”Executed agreement, p. 5

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 · Approved Project · p. 4

What was abated, and for how long.

50%

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 bodyCity of McAllenWHEREAS, the City of McAllen of Hidalgo County, Texas (hereinafter “McALLEN” or “CITY”), a home-tule city, is a political subdivision of the State of Texas1
Contracting entityKFLP Equity 3, LLCCHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY OF MCALLEN AND _KFLP Equity 3, LLC1
Parent / guarantorNot stated in the agreement—
Instrument50% Matching Reimbursement Grant IncentiveA. 50% Matching Reimbursement Grant Incentive.3
Governing chapterChapter 380, Local Government Code<<<PAGE 1>>> CHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY OF MCALLEN AND _KFLP Equity 3, LLC PRIORITY CORRIDOR REVITALIZATION PROGRAM (REFRESH 50/56) WHEREAS, the Constitution under Article 3, Section 52A authorizes the state legislature to enable political subdivisions to implement programs for purposes of economic development under which such political subdivisions may make loans —
Capital investmentNot stated in the agreement—
Grant or incentiveFifteen Thousand and 00/100" Dollars ($15,000.00)To provide PROPERTY OWNER with a 50% economic development incentive in an amount up to Fifteen Thousand and 00/100" Dollars ($15,000.00)4
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineninety (90) days after CommencementPROPERTY OWNER must satisfy all CITY building requirements and pass CITY’s final inspection for the Approved Project on or before ninety (90) days after Commencement.4
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryMark Masso__ Mark Masso6
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 0011767 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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