Agreement 0012789, filed with the Texas Comptroller by City of Bay City, Texas.
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| Field | Value & quoted source | Page |
|---|---|---|
| Granting body | City of Bay City, TexasThis Chapter 380 Economic Development Agreement (the “Agreement”) is made and entered into by and between the City of Bay City, Texas, a home-rule municipality (the “City”), and LG2 Rental, LLC, a Texas limited liability company(the “Developer’’), hereinafter collectively referred to as the “Parties” and sometimes individually referred to as a “Party.” | 1 |
| Contracting entity | LG2 Rental, LLCThis Chapter 380 Economic Development Agreement (the “Agreement”) is made and entered into by and between the City of Bay City, Texas, a home-rule municipality (the “City”), and LG2 Rental, LLC, a Texas limited liability company(the “Developer’’), hereinafter collectively referred to as the “Parties” and sometimes individually referred to as a “Party.” | 1 |
| Parent / guarantor | Not stated in the agreement | — |
| Instrument | Chapter 380 Economic Development AgreementCHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT | 1 |
| Governing chapter | Chapter 380, Local Government Code<<<PAGE 1>>> CHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY OF BAY CITY, TEXAS a home-rule municipality AND LG2 RENTAL, LLC STATE OF TEXAS § § COUNTY OF MATAGORDA _ § This Chapter 380 Economic Development Agreement (the “Agreement”) is made and entered into by and between the City of Bay City, Texas, a home-rule municipality (the “City”), and LG2 Rental, LLC, a Texas limited liability | — |
| Capital investment | $1,700,000The Developer anticipates investing at least $1,700,000 in capital improvements on the Property before the second anniversary of the effective Date of this Agreement. | 6 |
| Grant or incentive | $160,000the City hereby establishes an economic development program whereby the City agrees to make a grant of public land for the construction of the Project, in the form of a conveyance of the land to the Developer under the terms of this Agreement, which value has been determined to be $160,000.00 as determined by the Appraisal | 2 |
| Jobs committed | Not stated in the agreement | — |
| Wage requirement | Not stated in the agreement | — |
| Square footage | Not stated in the agreement | — |
| Acreage | 0.2089 acreWHEREAS, the City of Bay City owns the real property described as two adjoining lots (1) Lots 3 and 4, Block 90 and (2) Lot 5, Block 90, Bay City Original Townsite, that offer a combined 0.2089 acre on the southern site of the historic downtown square (the “Property”) located on 2237 Ave F and 2231 Ave F in the City of Bay City, Texas across the street from Fit for Life Gym; | 1 |
| Performance deadline | 24 months following the execution of this AgreementIf Developer defaults or fails to complete its obligations within twenty-four (24) months following the execution of this Agreement, or any City adopted extension hereto, Developer shall forfeit its right to the amounts held in escrow by the City and this Agreement shall terminate. | 9 |
| Expiration | 24 months following the effective dateThis Agreement will become enforceable upon the Effective Date and will terminate on the first to occur of: (a) on the expiration of twenty-four (24) months following the effective date of this Agreement; or (b) upon termination as otherwise provided for herein. | 5 |
| Effective date | 30 days following receipt of the Structural Engineering Analysis2.5 “Effective Date” means thirty (30) days following receipt of the Structural Engineering Analysis by Developer to be performed at the City’s expense.. | 4 |
| Signatory | Ryan LeissnerName Ryan Leissner, Member | 15 |
| Chain status | Terminal document — no later agreement in the registry names this one as its predecessor | — |
Agreement 0012789 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.