Agreement 0012751, filed with the Texas Comptroller by Town of Flower Mound, Texas.
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| Field | Value & quoted source | Page |
|---|---|---|
| Granting body | Town of Flower Mound, TexasThis Chapter 380 Agreement (“Agreement”) is made and entered into by and between the Town of Flower Mound, Texas (“Town”), and FM 2499 Retail Venture, LP, a Texas partnership (“Company”), | 2 |
| Contracting entity | FM 2499 Retail Venture, LPThis Chapter 380 Agreement (“Agreement”) is made and entered into by and between the Town of Flower Mound, Texas (“Town”), and FM 2499 Retail Venture, LP, a Texas partnership (“Company”), | 2 |
| Parent / guarantor | Realty Capital Management, LLC“Affiliate” means an entity owned or controlled by Realty Capital Management, LLC, which is the manager of Company, or an entity owned or controlled by Jimmy Archie, who is an owner and controlling Principal of Realty Capital Management, LLC. | 3 |
| Instrument | Chapter 380 AgreementThis Chapter 380 Agreement (“Agreement”) is made and entered into by and between the Town of Flower Mound, Texas (“Town”), and FM 2499 Retail Venture, LP, a Texas partnership (“Company”), | 2 |
| Governing chapter | Chapter 380, Local Government CodeDenton County, TX <<<PAGE 2>>> CHAPTER 380 AGREEMENT BETWEEN THE TOWN OF FLOWER MOUND AND FM 2499 RETAIL VENTURE, LP This Chapter 380 Agreement (“Agreement”) is made and entered into by and between the Town of Flower Mound, Texas (“Town”), and FM 2499 Retail Venture, LP, a Texas partnership (“Company”), for the purposes and considerations stated below. | — |
| Capital investment | $12,500,000.00the Development must have a minimum Taxable Value of Twelve Million Five Hundred Thousand and No/100 Dollars ($12,500,000.00). | 7 |
| Grant or incentive | $1,089,850“New Development Grants” means five (5) annual grants from the Town to Company, in an estimated amount equal to the aggregate of $1,089,850, each individual grant being referred to as a “New Development Grant” and in the estimated amount of $217,970, as set forth in Section 4.5, | 4 |
| Jobs committed | 30 construction-period jobs, not permanent positionsat least thirty (30) FTEs will be employed at the Hotel. | 7 |
| Wage requirement | Not stated in the agreement | — |
| Square footage | 72,000“Hotel” means an approximately 72,000 square foot 5-story hotel, consisting of approximately 125 rooms and approximately 1,500 square feet of meeting and fitness space to be built on the Hotel Property by Company. | 4 |
| Acreage | Not stated in the agreement | — |
| Performance deadline | 4 years from the Effective DateNotwithstanding any causes or events of Force Majeure, Company must achieve Completion of Construction no later than four (4) years from the Effective Date. | 7 |
| Expiration | Not stated in the agreement | — |
| Effective date | October 7, 2023This instrument was acknowledged before me on the 71 day of O Mn sg, 2023. | 19 |
| Signatory | James ArchieName? James bd. Arehre | 19 |
| Chain status | Terminal document — no later agreement in the registry names this one as its predecessor | — |
Agreement 0012751 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.
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.