Agreement 0013635, filed with the Texas Comptroller by CITY OF MAGNOLIA, TEXAS.
Texas Government Code 2264 requires this provision in every such agreement. It is triggered by employing unauthorised workers, not by missing a build or jobs target. The contract records no repayment remedy for the obligations above.
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.
| Field | Value & quoted source | Page |
|---|---|---|
| Granting body | CITY OF MAGNOLIA, TEXASCITY OF MAGNOLIA, TEXAS, a Texas Type A general law municipality (the “City”). | 1 |
| Contracting entity | BCS MAGNOLIA PLACE, LLCBCS MAGNOLIA PLACE, LLC, a Texas limited liability company (“BCS Magnolia”) | 1 |
| Parent / guarantor | BCS Capital Management LLCBy: BCS Capital Management LLC, a Texas limited liability company, its Manager | 9 |
| Instrument | Chapter 380 Economic Development AgreementThis Chapter 380 Economic Development Agreement (the “Agreement”) | 1 |
| Governing chapter | Chapter 380, Local Government Code<<<PAGE 1>>> a CHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT (MAGNOLIA PLACE) This Chapter 380 Economic Development Agreement (the “Agreement”) is made and entered into by and between BCS MAGNOLIA PLACE, LLC, a Texas limited liability company (“BCS Magnolia”), and the CITY OF MAGNOLIA, TEXAS, a Texas Type A general law municipality (the “City”). | — |
| Capital investment | Not stated in the agreement | — |
| Grant or incentive | $2,300,000.00be obligated to make any payments to BCS Magnolia exceeding $2,300,000.00 (the “Maximum Payment Amount”). | 4 |
| Jobs committed | Not stated in the agreement | — |
| Wage requirement | Not stated in the agreement | — |
| Square footage | 8,000 square footBCS Magnolia hereby agrees to provide approximately 8,000 square foot of space | 3 |
| Acreage | 22.67-acreBCS Magnolia intends to develop an approximately 22.67-acre tract of mixed-use land | 1 |
| Performance deadline | January 1, 2031the Improvements must be completed in their entirety by January 1, 2031 | 5 |
| Expiration | December 31, 2040this Agreement shall terminate on the earlier of: (i) the date upon which payments made by the City pursuant to the terms of this Agreement total $2,300,000.00; or (ii) December 31, 2040. | 5 |
| Effective date | August 21, 2024effective as of the Effective Date AUcuSt ZL, j 2024. | 8 |
| Signatory | Te BookBy: “Te Book Name: eck Bueg he | 9 |
| Chain status | Terminal document — no later agreement in the registry names this one as its predecessor | — |
Agreement 0013635 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.