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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: 0008728
Type of agreement: New
Record filed: 03/26/2024 07:19
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: BSM Associates, LLC
Assumed Name of the Entity:
Business Address of Entity: 5501 Regency Drive, Sugarland, TX 77479-4108
Entity Contact Phone Number: 5106667714
Entity Contact Email: sanjaybiyani@gmail.com
Agreement Information
Effective Date of Agreement: 08/02/2023
Expiration Date of Agreement: 12/31/2029
Counties that the agreement affects: Galveston
Total Monetary Value of Agreement: 22500.00
Terms on Which Agreement Expires: The Agreement expires five tax years after construction of the Project is complete.
Source of Money Used or Type of Tax Implicated By the Agreement: General Fund
Agreement Information
Agreement Number: 0008728
Purpose of Agreement
City’s Obligations: ? To provide an economic incentive grant in an amount of $22,500. Developer’s Obligations: ? To construct and build-out a 15,500 square foot Montessori school. ? Create and maintain taxable value by tax year 2025 of at least $2,250,000 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