City of Kent Committee Meeting Agenda November 5 2025
Enterprise Holdings joins Kent CRA incentive deal
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Description
CLERAC LLC, also known as Enterprise Holdings, is slated to receive a 75% real property tax exemption for twelve years under Kent’s proposed CRA II agreement tied to a major renovation of 1225 West Main Street. In return, the company will relocate dozens of employees and sustain significant payroll within the city and state.
Contract Details
Vendor
CLERAC LLC
Agency
Portage Area Regional Transit Authority, OH
Contract Type
FINANCIAL_SERVICES
Document Date
November 5, 2025
Contract Term
Twelve (12) years; exemption cannot commence after December 31, 2026 nor extend beyond December 31, 2038
Renewal Date
2038-12-31
Renewal Info
Twelve-year CRA II exemption shared with Pingree; subject to revocation or modification if job and payroll commitments, tax payment obligations, or statutory compliance requirements are not met.
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