DOWNTOWN MIDLAND MANAGEMENT DISTRICT Awards Financial Services Contract to Ast & Science Llc (July 2026)

Not to exceed $66,000,000.00 (up to $16,000,000 Ground Lease rent reimbursement; up to $30,000,000 Capital Incentive Payments; up to $20,000,000 Earned Capital Incentive Payments; potential additional $9,999,999.99 Accelerated Investment Incentive subject to separate approvals)

FINANCIAL_SERVICES

Coterminous with City Ground Lease term; incentive Compliance Years 2027–2036 with potential extension through 2042; Ground Lease reimbursement for first 30 years of Ground Lease

Agreement term is tied to the City Ground Lease, with automatic extension if the Ground Lease is extended and termination if the Ground Lease terminates (subject to any Transition Extension). Incentive payments run through Compliance Years 2027–2036 with an optional Earned Capital Incentives Extension through 2042 if $150,000,000 in Facility and Equipment Costs is invested. An additional discretionary Accelerated Investment Incentive of three annual payments may be approved after Earned Capital Incentives conclude if higher employment and compensation levels are met. Various clawback and repayment provisions survive termination.

Agreement