City of Kent Council Committee Meeting Agenda Packet 2026-06-03
Revised CRA Incentive for Enterprise Rent-A-Car
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Description
Kent plans to enter a revised CRA II agreement with CLERAC, LLC (Enterprise Rent-A-Car) granting a 75% real property tax exemption on improvements at 1225 West Main Street for twelve years. The incentive is tied to updated job relocation and payroll commitments in the city.
Contract Details
Contract Amount
Real property tax exemption on $1,626,762 in renovations (within total $14,406,762 investment)
Vendor
CLERAC LLC
Agency
Portage Area Regional Transit Authority, OH
Contract Type
FINANCIAL_SERVICES
Document Date
May 30, 2026
Contract Term
Twelve (12) years; exemption not to commence after December 31, 2026 nor extend beyond December 31, 2038
Renewal Date
2038-12-31
Renewal Info
Twelve-year CRA II real property tax exemption term; no commencement after 2026 and no extension beyond 2038.
More from CLERAC LLC
Related Contracts
City of Kent Regular City Council Meeting Minutes December 2025
APPROVEDCity of Kent Committee Meeting Agenda November 5 2025
PENDINGEnterprise Agreement to Sell Customer Vehicles 2025
APPROVEDMore from Portage Area Regional Transit Authority
City of Kent Council Committee Meeting Agenda Packet 2026-06-03
City of Kent Council Committee Meeting Agenda Packet 2026-06-03
City of Kent Council Committee Meeting Agenda Packet 2026-06-03
City of Kent Council Committee Meeting Agenda Packet 2026-06-03
City of Kent Council Committee Meeting Agenda Packet 2026-06-03
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