The Abatement RegisterMcAllenAgreement 0013956
Texas Chapter 380 / 381 agreement · McAllen

Valeric Properties LLC

Agreement 0013956, filed with the Texas Comptroller by City of McAllen.

50%of taxes 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 · p. 3

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-rule city, is a political subdivision of the State of Texas1
Contracting entityValeric Properties LLCCHAPTER 380 ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY OF MCALLEN AND VALERIC PROPERTIES 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 VALERIC PROPERTIES LLC PRIORITY CORRIDOR REVITALIZATION PROGRAM (REFRESH 50/50) 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 loa—
Capital investmentNot stated in the agreement—
Grant or incentiveTwenty-Five Thousand and 00/100 Dollars ($25,000.00)To provide PROPERTY OWNER with a 50% economic development incentive in an amount up to Twenty-Five Thousand and 00/100" Dollars ($25,000.00) for an Approved Project.3
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—
SignatorySilvia L. MendozaWHEREAS, Silvia L. Mendoza, (“PROPERTY OWNER”) is the owner of VALERIC PROPERTIES LLC2
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 0013956 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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