The Abatement RegisterMcAllenAgreement 0012411
Texas Chapter 380 / 381 agreement · McAllen

New Horizons Property Solutions LLC

Agreement 0012411, filed with the Texas Comptroller by City of McAllen.

$10,000.00committed capital investment
$5,000grant or incentive
25%of eligible investment abated
three (3) calendar months from the date the building permit is issuedperformance deadline
The obligation

What the contract requires.

“PROPERTY OWNER must satisfy all CITY building requirements and pass CITY’s final building inspection for the Approved Project on or before three (3) calendar months from the date the building permit is issued.”Executed agreement, p. 5
“construction costs of the exterior improvements, modifications or remodeling will be a minimum investment of the greater of $10,000.00 or ten percent (10%) of the property’s most recent appraisal improvement value”Executed agreement, p. 2
The repayment remedy

What happens if it is not met.

“If PROPERTY OWNER defaults in performing any of the obligations under this Agreement, then PROPERTY OWNER will not be entitled to any portion of Incentives. In case of a default, the PROPERTY OWNER will be provided written notice and granted thirty (30) days after notice to cure such default. If the OWNER fails to cure a default, to the extent that any portion of the Incentives have been distributed or paid to PROPER”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 · eligible investment · p. 4

What was abated, and for how long.

25%

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 (hereinafter “MCALLEN” or “CITY”), a home-rule city, is a political subdivision of the State of Texas1
Contracting entityNew Horizons Property Solutions LLCWHEREAS, NEW HORIZONS PROPERTY SOLUTIONS LLC (“PROPERTY OWNER?” is the owner of a single-family residential property1
Parent / guarantorNot stated in the agreement—
InstrumentIncentive Contract AgreementINCENTIVE CONTRACT AGREEMENT1
Governing chapterChapter 380, Local Government Codeand WHEREAS, Texas Local Government Code Chapter 380 authorizes CITY’S governing body to establish and provide for the administration of one or more programs, including programs making loans and grants of public money and providing personnel and services of the CITY, to promote local economic development and to stimulate business and commercial activities in the CITY;—
Capital investment$10,000.00construction costs of the exterior improvements, modifications or remodeling will be a minimum investment of the greater of $10,000.00 or ten percent (10%) of the property’s most recent appraisal improvement value2
Grant or incentive$5,000CITY will provide to PROPERTY OWNER a twenty-five percent (25%) rebate of eligible investment, not to exceed five-thousand dollars ($5,000)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 deadlinethree (3) calendar months from the date the building permit is issuedPROPERTY OWNER must satisfy all CITY building requirements and pass CITY’s final building inspection for the Approved Project on or before three (3) calendar months from the date the building permit is issued.5
ExpirationNot stated in the agreement—
Effective dateNot stated in the agreement—
SignatoryJoseph Ryan & Nicholas QuachNew Horizons Propey Solutions LLC- Joseph Ryan New Hlorizhas Property Solutions LLC- Nichdlas Qu9
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 0012411 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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