Construction must begin no later than the start of the first abatement year, January 1, 2029.

Construction of the improvements must be completed no later than 2032.

During the abatement period, the land and improvements must be used consistently with the purposes of encouraging development or redevelopment in the reinvestment zone.

The developer must construct and maintain the project in material compliance with all applicable federal, state, and local laws, codes, ordinances, rules, and regulations.

Eligibility for the 50% city tax abatement depends on meeting specified taxable-value, employee, and payroll targets, including reaching a $700 million guaranteed value and 100 added full-time employees with $7.35 million in annual gross payroll by 2032.

The developer must submit annual compliance certifications, valuation and tax-payment documentation, and workforce and payroll records to the city by February 15; it must also file an annual property-tax-abatement application with the appraisal district by April 30.

The developer must pay all non-abated city property taxes on time, must not allow covered taxes to become delinquent beyond applicable protest or appeal periods, and must render taxable property located in the city.

The developer must make an annual payment in lieu of taxes equal to 5% of the city taxes abated for the preceding year, payable by January 31 of the following year.

Any additional tax abatement, alternative valuation, or exemption obtained for the project from another source reduces the city abatement by 50% of the additional benefit.

The city may inspect the premises during and after construction at reasonable times with reasonable notice, and the developer must provide access to relevant books and records for compliance review.

The premises must be insured against fire and other casualty at full replacement value, either through insurance or an approved self-insurance program.

The developer generally may not assign the agreement or convey the improvements to a third party without the city's prior written consent, except for specified affiliates or subsidiaries.

Failure to meet the agreement's performance requirements can release the city from its obligations and, after notice and an opportunity to cure, terminate the agreement.

Upon specified defaults, including delinquent taxes, bankruptcy, or uncured breaches, the developer must repay qualifying abated taxes from the preceding three years, with statutory delinquent-tax interest and potential recovery through a tax lien.

The developer must not knowingly employ undocumented workers; a conviction under 8 U.S.C. § 1324a(f) requires repayment of all taxes abated as of the violation date within 120 days after notice.

The replacement project owner, ThisWay Global, agreed to comply with the governor's data-center requirements and with future state laws, according to the reported county action.

Bryan grants a 50% exemption from its maintenance-and-operations property taxes on qualifying improvements and newly added tangible personal property for ten tax years, from 2029 through 2038, subject to the guaranteed taxable-value, employee, and payroll requirements and a maximum total abatement of $12,981,640.

The Bryan tax abatement phases in the required taxable value, reaching a guaranteed $700 million taxable value by 2033 and maintaining that value through 2038, which reduces the project’s local tax burden while it is being built and ramped up.

Brazos County’s amended agreement provides a 40-year tax arrangement under which the county receives taxes on 50% of the project’s taxable value for the first ten years and on 100% of the taxable value for the following 30 years.

The Texas A&M University System authorized an amendment to the ground lease covering approximately 25 acres at the RELLIS Campus and authorized assignment of the existing lease to ThisWay Global, Inc. and its subsidiaries, allowing the project and its site rights to continue under the new owner.

The Bryan agreement allows the developer to assign the agreement with the city’s prior written consent, which cannot be unreasonably withheld, and makes the agreement binding on permitted successors and assigns.

The agreement provides force-majeure relief when qualifying events beyond the developer’s control delay or prevent performance, including natural disasters, war, terrorism, transportation disasters, certain labor disputes, epidemics or pandemics affecting essential supplies or services, fires, and certain governmental actions; the developer must notify the city within ten days.

Before terminating the agreement for a developer default, the city must provide written notice and generally allow 60 days to cure, with a possible additional 60-day extension when the default cannot reasonably be cured within the initial period and the developer is diligently pursuing a remedy.

If the agreement is terminated for default, recapture is generally limited to the taxes that would have been owed during the three years preceding the default notice, with a credit for PILOT payments actually made during those years.