2015 Research Valley Partnership Compliance Report

2015 Compliance Report
Research Valley
June 2016

•  For 2015, three (3) projects under agreement
being monitored for compliance by RVP for the
City of College Station
Overview

2015 Compliance Report – FUJIFILM Diosynth
Biotechnologies Texas (FDBT) @ National Center for
Therapeutics Manufacturing (NCTM)
Incentive:
Performance Metrics:
RVP Fund - Cash Incentive
2012 Start-up Cash Grant $50,000
PAYROLL EMPLOYMENT
REQUIRED ACTUAL REQUIRED ACTUAL
2012 $1,400,000 $2,413,392 20 35
2013 $1,400,000 $5,279,080 20 63
2014 $1,400,000 $7,116,902 20 94
2015 $1,400,000 $7,950,075 20 117
This contract ended on December 31, 2015
NOTES:
1.  FDBT announcement in
December 2014 on acquisition of
Kalon Biotherapeutics
2.  2015 Business personal property
valuation at NCTM is $3,321,780

2015 Compliance Report – FUJIFILM Diosynth
Biotechnologies Texas (FDBT) @ Biocorridor
Incentive:
Brazos County - Cash Incentive
2017 $266.2K 2021 $207.0K
2018 $236.6K 2022 $207.0K
2019 $207.0K 2023 $147.9K
2020 $207.0K
PAYROLL INVESTMENT VALUE EMPLOYMENT
REQUIRED ACTUAL REQUIRED BCAD REQUIRED ACTUAL
2015 0 N/A 0 N/A 0 N/A
2016 0 N/A 0 N/A 0 N/A
2017 0 N/A $70,000,000 0 N/A
2018 $6,000,000 $70,000,000 100
2019 $6,000,000 $70,000,000 100
2020 $6,000,000 $70,000,000 100
2021 $6,000,000 $70,000,000 100
2022 $6,000,000 $70,000,000 100
2023 $6,000,000 $70,000,000 100
Bryan - Cash Incentive
2017 $74.0K 2021 $57.6K
2018 $65.8K 2022 $57.6K
2019 $57.6K 2023 $41.1K
2020 $57.6K
College Station - Cash Incentive
2017 $196.8K 2021 $153.0K
2018 $174.9K 2022 $153.0K
2019 $153.0K 2023 $109.3K
2020 $153.0K
Contract requires completion of improvements
construction by December 31, 2016

2015 Compliance Report – Reynolds & Reynolds
Incentive:
Brazos County and City of College Station
Annual Retention & Expansion Grant: $30,000 each for maintaining $24M in investment
Annual Payroll Grant (Not to Exceed $25K Each): $5,000 each for every $1M of payroll exceeding $18M
Retention & Expansion
Grant Payroll Grant (cont’d)
Retention & Expansion
Grant Payroll Grant
2007 $30,000 $15,000 2012 $30,000 $10,000
2008 $30,000 $15,000 2013 $30,000 $15,000
2009 $30,000 $10,000 2014 $30,000 $15,000
2010 $30,000 $15,000 2015 $30,000 $15,000
2011 $30,000 $15,000 2016
PAYROLL INVESTMENT VALUE
REQUIRED ACTUAL REQUIRED BCAD
2007 $18,000,000 $21,835,291 $24,000,000 $35,256,198
2008 $18,000,000 $21,325,577 $24,000,000 $32,588,040
2009 $18,000,000 $20,111,034 $24,000,000 $28,348,178
2010 $18,000,000 $21,334,803 $24,000,000 $25,379,440
2011 $18,000,000 $21,480,228 $24,000,000 $25,580,430
2012 $18,000,000 $20,523,652 $24,000,000 $27,525,210
2013 $18,000,000 $21,450,619 $24,000,000 $27,051,300
2014 $18,000,000 $21,695,042 $24,000,000 $28,742,070
2015 $18,000,000 $22,776,856 $24,000,000 $31,367,750
2016 $18,000,000 $24,000,000

•  QUESTIONS ?
2015 Compliance Report

•  For 2015, eight (8) projects under agreement
being monitored for compliance by RVP for the
City of Bryan
City of Bryan Projects Overview

2015 Compliance Report – Axis Pipe & Tube
Incentive:
Brazos County - Tax Abatement
2013 100% 2018 70%
2014 100% 2019 70%
2015 100% 2020 50%
2016 100% 2021 40%
2017 80% 2022 30%
REQUIRED ACTUAL REQUIRED BCAD REQUIRED ACTUAL
2013 0 $37,150 0 $1,393,920 0 5
2014 0 $5,176,813 0 $8,260,230 0 145
2015 0 $8,396,837 0 $179,046,540 0 142
2016 $10,545,000 $120,000,000 285
2017 $10,545,000 $120,000,000 285
2018 $10,545,000 $120,000,000 285
2019 $10,545,000 $120,000,000 285
2020 $10,545,000 $120,000,000 285
2021 $10,545,000 $120,000,000 285
2022 $10,545,000 $120,000,000 285
City of Bryan - Non-Annexation Agreement
During ﬁrst 3 years of Agreement (2013, 2014 and
2015), no payment to the City. For every year
thereafter, the payment is equivalent of 50% of the
amount the City would have collected in Ad Valorem
tax that year.
Contracts have benchmark valuation+salary formula.
Capital investment through 2015: $239,785,000

2015 Compliance Report – Kent Moore Cabinets !
Incentive:
Performance Metric:
2008 0% 2013 40%
2009 70% 2014 30%
2010 70% 2015 20%
2011 60% 2016 10%
2012 50%
INVESTMENT VALUE
REQUIRED BCAD
2008 0 N/A
2009 $4,093,323 $4,429,950
2010 $4,093,323 $4,369,950
2011 $4,093,323 $4,302,620
2012 $4,093,323 $4,205,770
2013 $4,093,323 $4,294,980
2014 $4,093,323 $4,384,320
2015 $4,093,323 $4,499,820
2016 $4,093,323
City of Bryan - Tax Abatement
2008 0% 2013 40%
2009 70% 2014 30%
2010 70% 2015 20%
2011 60% 2016 10%
2012 50%

2015 Compliance Report – ConocoPhillips
Specialty Products, Inc. / LSPI
Incentive:
2008 0% 2013 30%
2009 70% 2014 20%
2010 60% 2015 10%
2011 50%
2012 40%
PAYROLL INVESTMENT
REQUIRED ACTUAL REQUIRED ACTUAL BCAD
2008 $2,694,643 $3,230,598 0 $4,774,928 N/A
2009 $2,794,643 $4,164,464 $3,695,000 $2,017,980 $6,566,180
2010 $2,844,643 $4,072,538 0 N/A $7,290,360
2011 $2,844,643 $4,263,452 0 N/A $6,570,100
2012 $2,844,643 $4,615,966 0 N/A $4,122,610
2013 $2,844,643 $4,955,778 0 N/A $3,235,798
2014 $2,844,643 $5,806,066 0 N/A $3,259,120
2015 $2,844,643 $8,119,467 0 N/A $3,197,380
NOTE:
Berkshire Hathaway’s Lubrizol, Inc.
acquired ConocoPhillips in early 2014

2015 Compliance Report – Penncro
Incentive:
2011 0%
2012 50%
2013 50%
2014 50%
PAYROLL INVESTMENT
REQUIRED ACTUAL REQUIRED ACTUAL BCAD
2011 $0 $3,316,639 0 $2,047,320 N/A
2012 $8,000,000 $8,187,749 $1,250,000 N/A $309,810
2013 $8,000,000 $7,404,116 0 N/A $229,580
2014 $8,000,000 $7,072,544 0 N/A $245,660
2015 $8,000,000 $2,011,476 0 N/A $159,810
2011 0%
2012 50%
2013 50%
2014 50%
Tax abatements only on Penncro personal
property
NOTES:
1.  Tax Abatement Agreements
required company maintaining
Payroll requirement throughout
term (12/31/15)
2.  Penncro recapture draft letter

2015 Compliance Report – Toyo Ink!
Incentive:
PAYROLL INVESTMENT
Required Actual Required Actual BCAD
2008 $1,000,000 $689,723 $20,000,000 $22,148,985 $295,981
2009 $1,000,000 $1,140,610 0 N/A $13,268,580
2010 $1,000,000 $1,305,554 0 N/A $14,809,380
2011 $1,000,000 $1,270,189 0 N/A $16,936,490
2012 $2,000,000 $2,169,747 $6,000,000 $5,725,664 $20,012,650
2013 $2,000,000 $1,860,272 0 N/A $21,562,430
2014 $2,000,000 $1,813,295 0 N/A $21,155,300
2015 $2,000,000 $2,242,153 0 $1,540,209 $17,950,410
Original *Amended for expansion
2007 0% 2012 40% 2007 0% 2012 50%
2008 70% 2013 20% 2008 70% 2013 20%
2009 60% 2014 20% 2009 60% 2014 30%
2010 60% 2015 10% 2010 60% 2015 10%
2011 40% 2011 40%
BBC Land
22 acres in Bryan Business Park
Original *Amended for expansion
2007 0% 2012 40% 2007 0% 2012 50%
2008 70% 2013 20% 2008 70% 2013 20%
2009 60% 2014 20% 2009 60% 2014 30%
2010 60% 2015 10% 2010 60% 2015 10%
2011 40% 2011 40%

2015 Compliance Report – Nutrabolt!
Incentive:
Required Actual Required BCAD Required Actual
2013 0 N/A 0 $577,970 0 N/A
2014 0 $7,576,429 $9,000,000 $5,037,260 0 86
2015 0 $9,481,548 $9,000,000 $9,807,830 0 110
2016 $3,000,000 $9,000,000 75
2017 $3,000,000 $9,000,000 75
2018 $3,000,000 $9,000,000 75
2019 $3,000,000 $9,000,000 75
2020 $3,000,000 $9,000,000 75
2021 $3,000,000 $9,000,000 75
2022 $3,000,000 $9,000,000 75
2023 0 $9,000,000 0
2014 100% 2019 30%
2015 100% 2020 20%
2016 90% 2021 20%
2017 80% 2022 10%
2018 70% 2023 10%

City of Bryan - Cash Incentive
$49,240 upon Issuance of Certiﬁcate of Occupancy
Improvements exclude value of land: $1,393,920;
Actual capital investment exceeds $13 million
Research Valley Partnership - Cash Incentive
Installment #1 $15,000 Start of construction
Installment #2 $37,500 Issuance of Certiﬁcate of Occupancy
Installment #3 $10,000 End of one year of full operations
Total $62,500

2015 Research Valley Partnership Compliance Report

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2015 Research Valley Partnership Compliance Report