The Abatement RegisterAddisonAgreement 0014672
Texas Chapter 380 / 381 agreement · Addison

Flight Club Regent Square, LLC and/or SPH FC NA 13 LLC

Agreement 0014672, filed with the Texas Comptroller by Town of Addison, Texas.

$6,000,000.00committed capital investment
$250,000.00grant or incentive
50%of construction of tenant improvements abated
18 months after the Effective Date of this Agreement or 18 months after signing of the Company’s lease for the Premisesperformance deadline
The obligation

What the contract requires.

“obtaining a final Certificate of Occupancy for the Premises upon the later of (1) 18 months after the Effective Date of this Agreement or (2) 18 months after signing of the Company’s lease for the Premises.”Executed agreement, p. 5
“WHEREAS, the Company intends to spend a minimum of $6,000,000.00 in total tenant improvements upon the Premises as part of the Project”Executed agreement, p. 3
The repayment remedy

What happens if it is not met.

“In the event of an uncured default by the Company, the Company shall immediately repay to the Town an amount equal to the total Grant Payments previously paid by the Town to the Company, plus interest at the rate periodically announced by the Wall Street Journal as the prime or base commercial lending rate”Executed agreement, p. 11

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 · construction of tenant improvements · p. 6

What was abated, and for how long.

up to $150,000.00term
fifty percent (50%)term

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 bodyTown of Addison, TexasThis Economic Development Grant Agreement (“Agreement’’) is made by and between the Town of Addison, Texas (“Town” or “Addison’”’) and Flight Club Regent Square, LLC and/or SPH FC NA 13 LLC (“Company”)3
Contracting entityFlight Club Regent Square, LLC and/or SPH FC NA 13 LLCThis Economic Development Grant Agreement (“Agreement’’) is made by and between the Town of Addison, Texas (“Town” or “Addison’”’) and Flight Club Regent Square, LLC and/or SPH FC NA 13 LLC (“Company”)3
Parent / guarantorState of Play HospitalityNotice Address: State of Play Hospitality Attn: Brett Neu 300 S. Wacker Drive, Suite 1650 Chicago, IL 6060614
InstrumentEconomic Development Grant AgreementThis Economic Development Grant Agreement (“Agreement’’) is made by and between the Town of Addison, Texas3
Governing chapterChapter 380, Local Government Codeand WHEREAS, that the Town is authorized by Article HI, Section 52-a of the Texas Constitution and Chapter 380 of the Texas Local Government Code to provide economic development incentives to promote local economic development and stimulate business and commercial activity;—
Capital investment$6,000,000.00WHEREAS, the Company intends to spend a minimum of $6,000,000.00 in total tenant improvements upon the Premises as part of the Project3
Grant or incentive$250,000.00PROVIDING FOR A REIMBURSEMENT GRANT FOR IMPROVEMENTS IN AN AMOUNT NOT TO EXCEED = $250,000.001
Jobs committedNot stated in the agreement—
Wage requirementNot stated in the agreement—
Square footage9,985 square feetinvesting a minimum of $6,000,000 to develop and occupy approximately 9,985 square feet of leasable area within the Premises1
AcreageNot stated in the agreement—
Performance deadline18 months after the Effective Date of this Agreement or 18 months after signing of the Company’s lease for the Premisesobtaining a final Certificate of Occupancy for the Premises upon the later of (1) 18 months after the Effective Date of this Agreement or (2) 18 months after signing of the Company’s lease for the Premises.5
Expirationthe fifth (Sth) anniversary date that the Company obtains a final Certificate of Occupancy (C.O.)This Agreement shall be effective as of the Effective Date of this Agreement, as defined herein, and shall expire upon the fifth (Sth) anniversary date that the Company obtains a final Certificate of Occupancy (C.O.) from the Town for the Premises unless sooner terminated as provided herein (the “Expiration Date”).6
Effective date3/3/2025Date: /3/ Notice Address: Town of Addison, Texas14
SignatoryToby HarrisBy: Tow / Toby Harris CEO14
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 0014672 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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