Economic Development Incentive Agreements

Resolution / Date Term Company Physical Address Company Obligations: Capital Investments / Improvements / Jobs Incentive / Grant Payment
2005-166R / November 1, 2006 (PDF)
2007-2012 Prime Outlets 3939 IH 35 $46000000/Phase 2: 73,000 sq. ft. retail store and office space./N/A Not to exceed $3,000,000 in sales tax rebates
2007-150R / August 21, 2007 (PDF) 5 years Stone 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 $2M
2008-44R / February 18, 2008 (PDF) 2009-2013 Clovis Barker Business Park 1600 Clovis Barker Business Park $5.95M/Construction 3 Buildings -distribution/warehouse facilities
Building 1 -64,260 Sq Ft
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)

2008-2029 HEB Grocery HEB Distribution Center- 2301 Hunter Road $2.0M/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 FT 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 Developer 1251 Sadler Dr N/A / Construction 3 Class A Med/Prof Buildings
of 18,000 Sq Ft each
Ph 1 - June 1, 2012
Ph 2 - October 1, 2013
Ph 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 - 11/2014 Mensor Corp 201 Barnes Dr. N/A / Build a new 45,000 sq ft building adjacent existing 26,000 building / N/A Waiver of sidewalk standards under LDC
2013-172R / November 19, 2013 (PDF) November 19, 2013 - Date of 3rd Payment Clovis Barker Business Park 1600 Clovis Barker $5.95M / Build 2 Buildings 67,670 and 94,800 Sq Ft= total 162,000 Sq Ft / N/A 1st year - 100% Real Property Tax
2nd Year 75%
3rd Year 50%
2013-175R / November 25, 2013 (PDF)
2013-2024 Corvac Composites 2350 Clovis Barker $3.65M / Lease 100,000 Sq Ft Facility by February 1, 2014 Complete improvements by March 31, 2014 / N/A 80% Property Tax
2014-170R / December 16, 2014 (PDF) 2016-2025 Epic Piping 2301 N IH 35 N/A / Relocate the companies manufacturing facility to the former Butler Mfg 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 Prop Taxes
2015-94R / July 21, 2015 (PDF) 2015-2036 Amazon.com 1401 McCarty Lane $60M Capital Invt $131M Pers Property / 855,000 Sq Ft building warehouse and distribution space / Min. 350 jobs by December 31, 2017
Maintained for term.
Aggregate payroll approximately $11,284,000
40% real property taxes
85% personal property taxes
15%-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 Invt $7M Tenant Capital Invt / 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
Ex: year 1 - 100% Prop Taxes and 90% Sales Taxes
year 10 - 20% Prop Taxes and 20% Sales Taxes
Grant payments subject to reduction if Cap Invt is less than $27M
2015-93R / July 21, 2015 (PDF) 2016-2025 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 $2.5M
2016-112R / August 16, 2016 (PDF) 2017-2026 BestBuy.com 900 Bugg Lane N/A / Occupy ~10,000 square feet existing call-center space / 50 "Jobs" by 2020 (>30 hours per week, minimum wage of $15 per hour, including health insurance) 50% of personal property tax revenue
75% of sales tax revenue