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Copy of the agreement
Previous Agreement Number:
Officer Title: City Attorney
Phone Number: 281-996-3283
Email: khorner@friendswood.com
Comptroller’s Online Chapter 380-381 Economic Development Agreements Database
Note: For agreements that do not have a set expiration date, the expiration date will show as 12/31/2078. All information has been provided by local governments. Only agreements that are or were active as of Sept. 1, 2021, when HB 2404 went into effect or agreements that have been entered into, amended or renewed since then are required to be reported to the database.
Friendswood
Chapter 380-381 economic development agreement information as reported to the Comptroller by this entity.
About This Local Government
Local government type: City
Local government code: 0007642
Type of agreement: New
Record filed: 07/18/2023 07:52
Address of Local Government
Address
910 S. Friendswood Dr.
Friendswood, TX 77546
Contact information for officer/other person representing the local government
Morad Kabiri
City Manager
281-996-3200
records@friendswood.com
Entity Information
Entity Name: 1715 Friendswood, LLC
Assumed Name of the Entity:
Business Address of Entity:
Entity Contact Phone Number:
Entity Contact Email:
Agreement Information
Effective Date of Agreement: 07/17/2023
Expiration Date of Agreement: 12/31/2029
Counties that the agreement affects: Galveston
Total Monetary Value of Agreement:
Terms on Which Agreement Expires:
Source of Money Used or Type of Tax Implicated By the Agreement:
Agreement Information
Agreement Number: 0007642
Purpose of Agreement
City’s Obligation: ? To provide an economic incentive grant in an amount of $350,000 after receipt of a certificate of occupancy for the medical facility. Developer’s Obligations: ? To construct the build-out of a 27,000 square-foot medical facility on or before April 1, 2024. ? Create and maintain taxable value of at least $23,000,000 by tax year 2025 and thereafter throughout the term. ? To repay all or a portion of the economic incentive grant if the Developer fails to comply with the terms of the agreement.
Copy of the agreement
Previous Agreement Number:
Contact information for person submitting agreement to database
Officer Name: Karen HornerOfficer Title: City Attorney
Phone Number: 281-996-3283
Email: khorner@friendswood.com