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Approve the Assignment of the Tax Abatement Agreement with Volkswagen Group of America, Inc. and PRP KDC Freeport Development, LLC for Property Located in City of Freeport Reinvestment Zone No. 2022-01
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That the Commissioners Court hereby approves the assignment by PRP KDC Freeport Development, LLC to Freeport TIC I, LLC, Freeport TIC II, LLC, and Freeport TIC III, LLC of its interests and obligations in the tax abatement agreement dated December 15, 2022 between Brazoria County, Volkswagen Group of America, Inc., and PRP KDC Freeport Development, LLC located in the City of Freeport Reinvestment Zone No. 2022-01, subject to and provided that Freeport TIC I, LLC, Freeport TIC II, LLC, and Freeport TIC III, LLC enter into and execute a new contractual agreement with Brazoria County in which all terms, conditions and obligations of the original tax abatement agreement are guaranteed as provided by Section 8 of the Guidelines and Criteria of Brazoria County.
The County Judge is authorized to execute the new contractual Agreement after final review by the District Attorney’s Office-Civil Division.