HomeMy WebLinkAboutResolution - 4585 - Agreement - Creative Educational Video Inc - Commerical Tax Abatement - 08_25_1994Resolution No. 4585
PREPARED BY THE LEGAL DEPARTMENT Item #14
FOR THE AUGUST 25, 1994 CITY COUNCIL MEETING August 25, 1994
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to
execute for and on behalf of the City of Lubbock an Agreement and all related documents by
and between the City of Lubbock and Creative Educational Video, Inc., for commercial tax
abatement, which agreement is attached hereto, which shall be spread upon the minutes of the
Council and as spread upon the minutes of this Council shall constitute and be a part of this
Resolution as if fully copied herein in detail.
Passed by the City Councl
ATTEST:
--- �) C�o
Betty ohnson, Wity Secretary
APPROVED AS TO FORM:
D nald G. Van fiver, first
Assistant City Attorney
DGV: dpXG:\codocs\CE V1.Res
August 1, 1994
Resolution No. 4585
Item # 14
August 25, 1994
AGREEMENT
STATE OF TEXAS §
COUNTY OF LUBBOCK §
This Agreement made this 25th day of August
1994, by and between the City of Lubbock, Texas, a home rule municipal-
ity of the State of Texas (hereinafter called "City") and Creative Edu-
cational Video, Inc. (hereinafter called "Company");
WITNESSETH:
WHEREAS, City did receive from Company on the 1st day of July,
1994, an application for tax abatement for renovation of an existing
facility located within Lot One (1), CMR Industrial Park, an addition to
the City of Lubbock, Lubbock County, Texas; and
WHEREAS, upon review of the above application, it was determined
that facilities would be located in the South Enterprise Zone designated
by City in its Ordinance No. 9591; and
WHEREAS, the Guidelines and Criteria Governing Tax Abatement for
Commercial Projects in Designated Enterprise Zones in the City of
Lubbock was heretofore adopted by Resolution No. 4287 of the City Coun-
cil of the City of Lubbock; and
WHEREAS, the City did comply with all the requirements set forth
in V.T.C.A., Tax Code, Section 312.2011; and
WHEREAS, the City did comply with all of the criteria and guide-
lines for creation of an enterprise zone as set forth in V.A.C.S., Sec-
tion 10, Article 5190.7, having adopted Ordinance No. 9591 of the City
on February 18, 1993, which ordinance includes Lot One (1), CMR Indus-
trial Park, an addition to the City of Lubbock, Lubbock County, Texas;
and
WHEREAS, the application received by City from Company is an
application for the renovation of an existing facility; and
WHEREAS, Section 10 of V.A.C.S., Article 5190.7 specifically
states that such a purpose is to be included in the guidelines for com-
mercial tax abatement to be eligible for such treatment; and
WHEREAS, Section IV of the Guidelines and Criteria Governing Tax
Abatement for Commercial Projects in Designated Enterprise Zones adopted
by the City Council by Resolution No. 9591 does recognize renovation of
an existing facility as being eligible for commercial tax abatement
status; and
WHEREAS, the City Council does hereby find that all of the Guide-
lines and Criteria established for Commercial Tax Abatement within the
Enterprise Zones of the City of Lubbock, as adopted by Resolution No.
4287, have been met by Company; and
WHEREAS, Company does intend to renovate an existing facility; and
WHEREAS, the location of the constructed facility and surrounding
real property, which are to be the subject matter of this Agreement, are
attached hereto as Exhibit "A", and made a part of this Agreement for
all purposes; and
WHEREAS, the City Council finds that entering into this Agreement
to abate taxes on the renovations to the existing facility described in
Exhibit "A" will create new jobs within the City, and enhance economic
development with the designated Enterprise Zone;
NOW THEREFORE, for and in consideration of the premises, and of
the mutual terms, covenants and conditions herein contained, the City
and Company do hereby agree as follows:
SECTION 1. Term. This Agreement shall remain in force and
effect for a period of five (5) years from the date of its execution,
and shall expire and be of no further force and effect after said date.
PAGE 2
SECTION 2. Base Year. The base year applicable to real prop-
erty, which is the subject of the Agreement, shall be 1994, and the
assessed value of the real property shall be the assessed value applica-
ble to such property for said year.
SECTION 3. Base Year Taxes. The taxes upon the real property
shall be paid in accordance with the assessed value of such property for
the base year. Base year taxes upon the real property are thus not
abated.
SECTION 4. Abatement of Increase in Base Year Tax. In accor-
dance with V.A.T.C., Tax Code, Section 312.204, real property taxes
applicable to the real property subject to this Agreement shall be
abated only to the extent said value for any given year within the term
of this Agreement exceeds the base year taxes hereinabove set forth.
SECTION 5. Property Ineligible for Tax Abatement. The property
described and set forth in Section IV(5) of the Guidelines and Criteria
Governing Tax Abatement for Commercial Projects in Designated Enterprise
Zones, and heretofore adopted by the City Council by Resolution No. 4287
is incorporated by reference herein as if fully set out in this Agree-
ment and fully describes the property ineligible for tax abatement.
SECTION 6. Exemption from Tax. The City covenants and agrees to
exempt from taxation the following properties:
(a) All proposed improvements to the existing facility on Lot
One (1), CMR Industrial Park, an addition to the City of
Lubbock, Lubbock County, Texas, which proposed improvements
are set forth in a plat of the above tract of land, attached
hereto as Exhibit "A", and made a part hereof.
(b) All eligible tangible personal property placed in or upon
the property set forth in Exhibit "A".
(c) It is further understood that all items affixed to the
improvements placed upon the real property identified in
Exhibit "A" including machinery and equipment shall be con -
PAGE 3
sidered part of the real property improvement, and taxes
thereon shall be abated in accordance with the provisions of
subparagraph (a) above set forth.
SECTION 7. Economic Qualification. It is hereby found by the
City that Company will expend funds necessary to qualify for tax abate-
ment by renovating an existing facility, and further that the Company
will create new jobs in excess of the number required for tax abatement,
all as set forth in Section IV(9)(2) of the Guidelines and Criteria Gov-
erning Tax Abatement for Commercial Projects in Designated Enterprise
Zones in the City of Lubbock adopted by the City through Resolution No.
4287.
SECTION 8. Value of Improvements. Company intends to expend
approximately one hundred seventy-nine thousand dollars in building
related structural improvements to be located within the Enterprise Zone
created by Ordinance No. 9591.
SECTION 9. Creation of New Jobs. Company agrees within twelve
(12) months from the date of execution of this Agreement that it will
create five (5) to ten (10) new jobs within the Company facility located
within Lot One (1), CMR Industrial Park, an addition to the City of
Lubbock, Lubbock County, Texas; and use its best efforts to maintain a
minimum of five (5) new jobs during the term of this Agreement.
SECTION 10. City Access to Property. Company covenants and
agrees that City shall have access to the property, which is the subject
matter of this Agreement, during normal business hours, and that munici-
pal employees shall be able to inspect the property to insure that the
improvements are being made in accordance with the terms and conditions
of Company's application for commercial tax abatement and this Agree-
ment.
SECTION 11. Portion of Tax Abated. City agrees, during the term
of this Agreement, to abate one hundred (100) percent of taxes on eligi-
ble property.
PAGE 4
SECTION 12. Commencement Date. This Agreement shall commence
upon the date of its execution, which date is hereinafter set forth, and
shall expire five (5) years after such date.
SECTION 13. Type of Improvements. The Company proposes to reno-
vate an existing building into an educational materials production com-
pany as described in Exhibit "A". The Company further states that the
proposed improvements to the property above mentioned shall commence on
the 2nd day of July, 1994, and shall be completed within approximately
120 days from said date. The Company may request an extension of the
above date from City in the event circumstances beyond the control of
Company necessitates additional time for completion of such improve-
ments, and such consent shall not unreasonably be withheld.
SECTION 14. Drawings of Improvements. Company shall furnish City
with one set of as -built plans and drawings of the improvements to be
made pursuant to the terms of this Agreement.
SECTION 15. Limitation on Use. Company agrees to limit the use
of the property set forth in Exhibit "A" to commercial uses as those
terms are defined in the zoning ordinances of the City of Lubbock, and
to limit the uses of the property to uses consistent with the general
purpose of encouraging development of the designated Enterprise Zone
during the term of this Agreement.
SECTION 16. Recapture. The Company agrees to be bound by and
comply with all the terms and provisions for recapture of abated taxes
in the event of default by Company as set forth in Exhibit "B", attached
hereto and made a part hereof for all purposes.
SECTION 17. Notices. Notices required to be given by this Agree-
ment shall be mailed, certified mail return receipt requested, to the
following addresses:
CITY OF LUBBOCK Gordon W. Davis
City Manager Creative Educational Video, Inc.
P.O. Box 2000 P.O. Box 65265
Lubbock, TX 79457 Lubbock, TX 79464-5265
PAGE 5
SECTION 18. Effective Date. Notwithstanding anything contained
herein to the contrary, this Agreement shall not be effective until such
time as it shall be finally passed and approved.
EXECUTED this 25th day of August , 1994.
CREATIVE EDUCATIONAL VIDEO, INC.
v _
Pre ident
ATTEST:
Secretary
RE/sdh/a:eduvideo.doc
July 26,1994
PAGE 6
ATTEST:
Betty Joh son,
City Secretary
jRo
PPROVWDirector
NT:
Business Development
APPROVED AS TO FORM:
a 1 d G. ndiver, First
Assistant City Attorney
Existing Facility
EXHIBIT "A"
OFFICE / WAREHOUSE FACILITY
FOR SALE OR LEASE
1020 Southeast Loop 289 Kew Lod v WOW
Lubbock, Texas
LOCATION On the south service road of Loop 289 approximately one mile east of
Interstate 27 in southeast Lubbock.
BUILDING SRE 12.000 sq. ft. Total
7,500 sq. ft. Warehouse (clear span)
4,500 sq. ft. Offices
CEILING HEIGHT 16 ft. in warehouse (14' under beams); 8 ft. & 9 ft. office ceilings.
OVERHEAD DOORS Two 12' x 14' overhead doors
SPECIAL FEATURES Three ton overhead crane; heavy electrical; air compressor; alarm
system.
OFFICE FACILITIES High quality —including reception area, 8 offices, break room. fie room
computer/copy room, 5 restrooms (2 are private), & mechanical room.
TM aawrtwrt and ywo praaarrad n.r.' v*ft na puararaaK an waaad bw wurar in er«• neon m
a aw urpad to parbrm a*A dfparroa useu t to dway and avwra arry @rwk=nanW rbkL
Bi0lallf MIir�10 ai alw� era pRtparfy ara d maka arrarpMrw�ls MII dra WYip bro' 1 11 prOCOGAq.
t
FUCK C ANUP, WALTOM 111111
COI MUM I1MSaN
(806) 70M
I
yni�a,i„£, rua.i114y
EXHIBIT "A'•
ZONING
CONSTRUCTION
HEATING/ COOLING
LIGHTING
FENCING
OFFICE WAREHOUSE FACILITY
1020 Southeast Loop 28% Lubbock, Texas
M-1 (Light Manufacturing)
Steel building, concrete slab,
brick veneer on the office wing.
Warehouse: gas furnaces &
evap. cooling; Offices: central
gas heat & electric refrigerated
air conditioning.
Warehouse: Mercury vapor,
skylights; Offices: fluorescent.
6 ft. security fence around rear
yard areas. See site plan.
SE LOOP 289
LANDSCAPING
Front WxIscaping, with
a sprinkler system.
CONDITION
Excellent
YEAR BUILT
1983
LAND SIZE
73.467.7 sq. ft.
PARKING
24 striped spaces
TAXES
$7,287.08 in 1992
LEGAL DESCRIPTION
CMR Industrial Park.
Lot 1, City of Lubbock
tile( GAUP, FFALTOIB, M
4924 S. ... 269 Lubbo066-6'%AJENWrn,aa. w.IORM
lea d Oar paawiMe Aram at& not oui w4w4 a» mAW km *wAm w siwo arrrorrrra
li�ua aal YgnO d pAarm a Oua �pria aw.wewit b Ylrw aM aaluala aq a nwral dd.
9iol�ta aararq q aAow b papany and b n�q araigwrrrli wM � did bial�r O�bwpiooaad�
2
c
EXHIBIT "A"
■
t
LUBBOCK CITY MAP
3
C r EXHIBIT "A"
t
1
AREA DESCRIPTION
The property under appraisal is located approximately one mile
east of Interstate 27 on the south service road of South Loop
289 in a commercial/industrial area. Access to the subject is
from the service road and King Avenue Which is parallel to the
east property line.
The area is served by telephone, electric, gas, and water
utilities. Most streets are paved. There are several undevel.
loped sites and a small vegetable farm near the subject.
The Frito Lay Company has a distribution center directly south
of the.subject. Other nearby businesses are: Scott Equipment
Company, Bundock Construction Company, West Texas Caterpillar,
and Nix Electric Company. Several businesses in the area have
closed, and the properties are for sale or lease.
There is a housing subdivision located directly south of the
subject to 82nd Street. Most of the houses are old, however
some are about 10 years of agg They contain approximately
1,400 to 1,600 sq. ft. Conditions are fair to poor. Some
streets in the residential area are paved. Some are gravel.
Development in the area is slow., Values appear to be stable.
Demand for commercial/industrial space is soft.
4
rim
WIN
:s�� a �•. �. t� � r'W�wE b� •i
�.1
i . c � 'r'i � i rk��T
��l,�s�}t ;:'�Rr��:,
r '��•�'�
r,�,
,
�
7
to
tzj
9
�c
s
I
to
I H
1
!l
17
FIT
Ali
-fl
its
Xv&A
Lic
n
-
�t
,
�,v
2.
r��;
2-1:,
all
we
W.
23
sic
X-0
IFS
' nAddAd
ip
_MN
r .D. Mull
:al
tcicta
M
low
MA
-I.,
0
al
'.w
. / k--;- *l,
Is _
_...:_ EXHIBIT "A"
SOUTH LOOP SERVICE ROAD
LANDSCAPING LANDSCAPING
_ LANDSCAPING
�:..T PAVED PARKING N
BUILDING
OFFICES
AREA
I. WAREHOUSE AREA
�267 _. FT i PAVED
UNPAVED
FENCED YARD
PAVED I�
I
O O UNDERGROUND I
STORAGE TANKS
PAVED
275.16 FT.
PAVED I
UNPAVED I
SITE PLAN - NOT TO SCALE
LING
AVENUE
6
EXHIBIT "!A"
4
_L4- T-
125 FT.
t
DOOR
41-11___ +_ �1.:::: _ f....:..
`DOER `
WAREHOUSE
4-4
4-4-
4-1-
MECH
R
r
1 144 1-
:.,I 1_ * - T7i
S RAGE'
OFFICE
T-;
BREAl
ROOM.
OFFICE I I I
�>. s
OFFICE ,)
R \1 OFFICE R
. t r
ECEPTIO VTS
4-i
4.14
U19-4ttl-i . ! I I , : OFFICE OFFICE
60 FT.
FLOOR PLAN NOT TO SCALE
OFFICE
ffiIBIT "A"
(g) General Description - Modernization
Renovation of the existing facility will provide a first-class office/production facility for the
manufacturing of educational materials. Improvements will include renovation of the existing
4,500 square feet of office space and construction of an additional 4,700 square feet of office
space, inventory space and production facilities within the existing warehouse. The building
will consist of 9,200 square feet of office space and 2,800 square feet of warehouse when the
renovation has been completed.
P.0
EXHIBIT "A"
FAIL ADDRESS: LUBBOCK CENTFtAL APPRAISAL DISTRICT
P.O. BOX 10542
YAAJAW3Wl994 9407
OFFICE AD!
1715 2m $I
(we) M-m
A P P R A I S A L N 0 T I C E S C R E E N
KEY: 01448589 LOC: L8/ 1020/SE/LOOP 289
GEO: R123000-00000-00010-000 LEGAL: C M R INDUSTRIAL PARK L
NAME: DAVIS GORDON W
CARD:
NO VALUE CHANGE
0
PRIOR YEAR
CURRENT YEAR
1993
1994
LAND:
91833
LAND:
91835
AGRIC:
0
AGRIC:
0
IMPR:
207478
IMPR:
207478
PERS:
0
PEAS:
0
MIN:
0
MIN:
0
TOTAL:
299313
TOTAL:
299313
ZONE:
38 CEILING:
0
ZONE:
38 CEILING:
EXMS:
0
0
EXMS:
0
0
0
0
0
0
0
0
0
0
0
0
0
0
O
0
FUNC:
1
YOUR MORTGAGE 00. MAY PAY TAXES DUE. PLEASE CONSULT BEFORE REMITTING PAYMENT.
CF'1' 7��.t �bn l t 2� �f:' _. .; ; �'r�► ;--r�.,- t�£VYlt :ram b7i1:1:�
..
0
0
0
0
0
O
0
EXHIBIT "A"
V.V. lSVA 11Jy4X
= -
1715 26th St,
Tififf,foT9%% 2994
9407
/ /
(806) 762-Soo
M U L
T I P L E
Y E A R
T A X E S
KEY: 01448589 GEO:
R123000-00000-00010-000
TOTAL DUE:
CAUSE 1t:
STAT:
CRT ID:
PAID DATE:
0
CRT COSTS:
YR TAX DUE PAYMENT
INTEREST
PENALTY MEMO
BALANCE
0 0
0
0
0 0
0 0
0
0
0 0
0 0
0
0
O O
O 0
0
0
0 0
0 0
0
0
0 0
0 0
O
0
0 0
0 0
0
0
0 0
BILL TO:
ZONE: 38
TITLE CO:
SERVICE CERT DATE: 94050:
DAVIS GORDON W
MRTG:
0 LOAN:
5147 A 69TH ST
PARENT
KEY:
LU88OCK TX
79424-1646
------
LOCATION/LEGAL------------
L8
1020 SE LOOP 289
C M R
INDUSTRIAL PARK L 1
OWNER NAME:
DAVIS GORDON W
CONTINUE (X):
YOUR MORTGAGE CO. MAY PAY TAXES DUE. PLEASE CONSULT BEFORE REMITTING PAYMENT.
MAIL ADDRESS:
LUBBOCK CENTRAL APPRAISAL DISTRICT
OFFICE ADD
P.O. •OX 10642
1715 261h St.
%9H%Sl0%Wl994
9407
(806) 762-500
P A Y
M E N T H
I S T O R Y
KEY: 01448589
GEO: R123000-00000-00010-000
TOTAL PAYMENT:
40563.19 1
PAID
ACT
YEAR DATE _RECEIPT
-----------------------------
TYPE REAS DATE TAX AMOUNT INT/PEN/SUR
--.--------------------
TOTAL PA]
93 940126
85470043
----------
F C 940127
------...-_.-.rti.
7136.10
----.
7136.1(
92 921216
5703004S
F C 921218
7287.08
728.7.0E
91 911120
50430047
F C 911120
6720.18
6720.1E
90 901031
43610080
F C 901031
6854.04
6854.04
89 891230
57170196
F C 891230
6849.28
6849.21
88 890112
40250058
F C 890112
5716.51
5716.Sl
CONTINUE (X):
EXHIBIT 'BE
SECTION VII. eca ture:
1. In the event that any type of facility, (as defined in Sec-
tion I, Subparagraphs 5, 6, 7, 8, 10, 11, 12, 13, 17, 18) is
completed and begins producing goods or services, but subse-
quently discontinues producing goods or services for any
reason, excepting fire, explosion or other casualty or acci-
dent or natural disaster or other event beyond the reason-
able control of applicant or owner for a period of 180 days
during the term of a tax abatement agreement, then in such
event the Tax Abatement Agreement shall terminate and all
abatement of taxes shall likewise terminate. Taxes abated
during the calendar year in which termination takes place
shall be payable to each Affected Jurisdiction by no later
than January 31st of the following year. Taxes abated in
years prior to the year of termination shall be payable to
each Affected Jurisdiction within sixty (60) days of the
date of termination. The burden shall be upon the applicant
or owner to prove to the satisfaction of the Affected Juris-
diction to whom the application for tax abatement was
directed that the discontinuance of producing goods or ser-
vices was as a result of fire, explosion, or other casualty
or accident or natural disaster or other even beyond the
control of applicant or owner. In the event the applicant
or owner meets this burden, and the Affected Jurisdiction is
satisfied that the discontinuance of the production of goods
or services was the result of events beyond the control of
the applicant or owner, then such applicant or owner shall
have a period of one year in which to resume the production
of goods and services. In the event that the applicant or
owner fails to resume the production of goods or services
within one year, then the Tax Abatement Agreement shall ter-
minate and the Abatement of all taxes shall likewise termi-
nate. Taxes abated during the calendar year in which termi-
nation takes place shall be payable to each Affected Juris-
diction by no later than January 31st of the following year.
Taxes abated in years prior to the year of termination shall
be payable to each Affected Jurisdiction within sixty (60)
days of the date of termination. The one year time period,
hereinabove mentioned, shall commence upon written notifica-
tion from the Affected Jurisdiction to the applicant or
owner.
2. In the event that the applicant or owner has entered into a
tax abatement agreement to make improvements to a facility
of any type described in Section 1 above, but fails to
undertake or complete such improvements, then in such event
the Affected Jurisdiction to whom the application for tax
abatement was directed shall give the applicant or owner
sixty (60) days notice of such failure. The applicant or
owner shall demonstrate to the satisfaction of the Affected
Jurisdiction, above mentioned, that the applicant or owner
has commenced to cure such failure within the sixty (60)
days above mentioned. In the event that the applicant or
owner fails to demonstrate that he is taking affirmative
action to cure his failure, then in such event the Tax
Abatement Agreement shall terminate and all abatement of
taxes shall likewise terminate. Taxes abated during the
calendar year in which termination takes place shall be
payable to each Affected Jurisdiction by no later than Jan-
uary 31st of the following year. Taxes abated in years
prior to the year of termination shall be payable to each
Affected Jurisdiction within sixty (60) days of the date of
termination.
3. In the event that the Affected Jurisdiction to whom applica-
tion for tax abatement was directed determines that the
applicant or owner is in default of any of the terms or con-
ditions contained in the Tax Abatement Agreement, then in
such event the Affected Jurisdiction shall give the appli-
cant or owner sixty (60) days written notice to cure such
default. In the event such default is not cured to the sat-
isfaction of the Affected Jurisdiction within the sixty (60)
days notice period, then the Tax Abatement Agreement shall
terminate and all abatement of taxes shall likewise termi-
nate. Taxes abated during the calendar year in which termi-
nation takes place shall be payable to each Affected Juris-
diction by no later than January 31st of the following year.
Taxes abated in years prior to the year of termination shall
be payable to each Affected Jurisdiction within sixty (60)
days of the date of termination.
4. In the event that the applicant or owner allows ad valorem
taxes on property ineligible for tax abatement owed to any
Affected Jurisdiction, to become delinquent and fails to
timely and properly follow the legal procedures for their
protest or contest, then in such event the Tax Abatement
Agreement shall terminate and all abatement of taxes shall
likewise terminate. Taxes abated during the calendar year
in which termination, under this subparagraph, takes place
shall be payable to each Affected Jurisdiction by no later
than January 31st of the following year. Taxes abated in
years prior to the year of termination shall be payable to
each Affected Jurisdiction within sixty (60) days of the
date of termination.
Guidelines and Criteria Governing Tax Abatement for
Conmrcisl Projects in Demignsted Enterprise Zones
Exhibit "a•
PAGE 2
5. In the event that the applicant or owner, who has executed
tax abatement agreement with any Affected Jurisdiction,
relocates the business, for which tax abatement has been
granted, to a location outside of the designated reinvest-
ment zone, then in such event, the Tax Abatement Agreement
shall terminate after sixty (60) days written notice by the
Affected Jurisdiction to the Owner/Applicant. Taxes abated
during the calendar year in which termination, under this
subparagraph takes place shall be payable to each Affected
Jurisdiction by no later than January 31st of the following
year. Taxes abated in years prior to the year of termina-
tion shall be payable to each Affected Jurisdiction within
sixty (60) days of the date of termination.
6. The date of termination as that term is used in this Subsec-
tion VIII shall, in every instance, be the 60th day after
the day the Affected Jurisdiction sends notice of default,
in the mail to the address shown in the Tax Abatement Agree-
ment to the Applicant or Owner. Should the default be cured
by the Owner or Applicant within the sixty (60) day notice
period, the Owner/Applicant shall be responsible for so
advising the Affected Jurisdiction and obtaining a release
from the notice of default from the Affected Jurisdiction,
failing in which, the abatement remains terminated and the
abated taxes must be paid.
7. In every case of termination set forth in Subparagraphs 1,
2, 3, 4 and 5 above, the Affected Jurisdiction to which the
application for tax abatement was directed shall determine
whether default has occurred by Owner (Applicant) in the
terms and conditions of the Tax Abatement Agreement and
shall so notify all other Affected Jurisdictions. Termina-
tion of the Tax Abatement Agreement by the Affected Juris-
diction to which the application for tax abatement was
directed shall constitute simultaneous termination of all
Tax Abatement Agreements of all other Affected Jurisdic-
tions.
8. In the event that a tax abatement agreement is terminated
for any reason whatsoever, and taxes are not paid within the
time period herein specified, then in such event, the provi-
sions of V.T.C.A., Tax Code, Section 33.01 will apply.
Guidelines and Criteris Governing Tax Abatement for
Cawsercisl Projects in Oesfratei Enterprise tones
Exhibit •g•
PAGE 3