Economic Development Incentive Agreements

Resolution / Date Term Company  Physical AddressCompany Obligations: Capital Investments / Improvements / Jobs Incentive / Grant Payment 
2005-166R / November 1, 2006 (PDF)
2007 to 2012 Prime Outlets 3939 IH 35 $46000000/Phase 2: 73,000 square feet retail store and office space./N/A Not to exceed $3,000,000 in sales tax rebates
 2007-150R / August 21, 2007 (PDF) 5 yearsStone Creek Crossing IH 35 $3311000 /Develop 119.2 acres fronting IH-35 as a retail development / N/A 100% increased Ad Valorem Tax Rev
greater than 2007 Ad Valorum.
Not to exceed $2 million
 2008-44R / February 18, 2008 (PDF)2009 to 2013 Clovis Barker Business Park1600 Clovis Barker Business Park $5.95M/Construction 3 Buildings -distribution/warehouse facilities
Building 1 -64,260 Square Feet
Building 2 - 84,640
Building 3 - 148,900 /N/A
Tax Abatement
50% taxable value 2009-2010
25% taxable value 2011-2013
2008-170R / December 16, 2008 (PDF)
2008 to 2029 HEB GroceryHEB Distribution Center- 2301 Hunter Road $2.0 million/phase (6 phases)/ Acquisition of 47.5 acres. Build up to 750,000 square feet of distribution warehouse space in one or multiple phases / 320 new Full Time positions, in phases
estimated total payroll of $16,260,707
 100% of Ad Valorem revenue of the value of qualified building improvement.
 2012-33R / April 17, 2012 (PDF) 6 years after completion of Building 1 Hay County Developer1251 Sadler DrN/A / Construction 3 Class A Medical/Professional Buildings
of 18,000 Square Feet each
Phase 1 - June 1, 2012
Phase 2 - October 1, 2013
Phase 3 - March 1, 2015 / N/A
 Building 1 - 100% ad valorem real property taxes
Building 2 - 75% ad valorem real property taxes
Building 3 - 50% ad valorem real property taxes
2013-154R / October 2, 2013 (PDF)
10/2013 to 11/2014 Mensor Corp 201 Barnes Dr. N/A / Build a new 45,000 square feet building adjacent existing 26,000 building / N/AWaiver of sidewalk standards under LDC
2013-172R / November 19, 2013 (PDF)November 19, 2013 to Date of 3rd PaymentClovis Barker Business Park 1600 Clovis Barker  $5.95 million / Build 2 Buildings 67,670 and 94,800 Square Feet = total 162,000 Square Feet / N/A 1st year - 100% Real Property Tax
2nd Year 75% 3rd Year 50%
2013-175R / November 25, 2013 (PDF)
2013 to 2024Corvac Composites 2350 Clovis Barker$3.65M / Lease 100,000 Square Feet Facility by February 1, 2014 Complete improvements by March 31, 2014 / N/A 80% Property Tax
 2014-170R / December 16, 2014 (PDF)2016 to 2025 Epic Piping 2301 N IH 35 N/A / Relocate the companies manufacturing facility to the former Butler Manufacturing facility / 140 jobs by December 31, 2016
70 jobs each subsequent year until 2019
mini 210 jobs December 31, 2017
mini 280 jobs December 31, 2018
Total jobs - 350 December 31, 2019
80% of Additional Property Taxes
 2015-94R / July 21, 2015 (PDF)2015 to 2036 Amazon.com 1401 McCarty Lane $60 million Capital Investment $131 million Personal Property / 855,000 Square Feet building warehouse and distribution space / Minimum 350 jobs by December 31, 2017
Maintained for term.
Aggregate payroll approximately $11,284,000
 40% real property taxes
85% personal property taxes
15% to 85% sales tax revenues (incrementally)
2015-91R / July 21, 2015 (PDF) 10 years from initial grant payment request Springtown Shopping Center IH 35, Springtown Way and Thorpe $27.5M Capital Investment $7M Tenant Capital Investment / Redevelop site as a "Class A" retail shopping center / N/A Based on additional property and sales taxes
Declining scale from year 1 to year 10
Example: year 1 - 100% Property Taxes and 90% Sales Taxes
year 10 - 20% Property Taxes and 20% Sales Taxes
Grant payments subject to reduction if Capital Investment is less than $27 million
 2015-93R / July 21, 2015 (PDF)2016 to 2025 Tanger Properties IH 35 and Centerpoint $6M Additional Retail Space $2.11M Additional Enhancements / Redevelop site 24,000 square foot new retail space / N/A 75% additional real property taxes within site
75% additional sales taxes within site
Subject to reductions if tenants relocate
Grant Payments not to exceed $2.5 million
2016-112R / August 16, 2016 (PDF) 2017 to 2026 BestBuy.com 900 Bugg Lane N/A / Occupy ~10,000 square feet existing call-center space / 50 "Jobs" by 2020 ( greater than 30 hours per week, minimum wage of $15 per hour, including health insurance) 50% of personal property tax revenue
75% of sales tax revenue