Kent Approves CRA Tax Incentive for Pingree Redevelopment
City of KentCity · Kent, OH- Disclosed value
- Approximately $14,406,762.00, plus or minus 10%, including $650,000 for land and building acquisition, $1,626,762 for building renovations, $40,000 for machinery and equipment, $90,000 for furniture and fixtures, and $12,000,000 for vehicle inventory
- From contract
- Approved
- Nov 11, 2026
- Renews
- Free account
The 30-second brief
Kent approved an amended Community Reinvestment Area Agreement with Pingree 2000 Real Estate Holdings, LLC for renovation and redevelopment at 1225 West Main Street. The project investment is approximately $14.4 million, and the agreement grants a 75% real property tax exemption for 12 years, subject to a December 31, 2038 outside expiration date.
Pingree 2000 Real Estate Holdings LLC holds this contract with City of Kent.
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Contract details
- Amount
- Approximately $14,406,762.00, plus or minus 10%, including $650,000 for land and building acquisition, $1,626,762 for building renovations, $40,000 for machinery and equipment, $90,000 for furniture and fixtures, and $12,000,000 for vehicle inventory
- Document date
- November 11, 2026
- Term
- Project renovations to be completed by August 2026; 75% real property tax exemption for 12 years, not extending beyond December 31, 2038
- Renews
- On record
- Agency
- City of Kent
- Source document
- 2026 055 CRA II AGREEMENT (AMENDING) ENTERPRISE RENT A CAR RENOVATION Signed (Contract)
Pingree 2000 Real Estate Holdings LLC's other public contracts
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Questions about this contract
Who was awarded the government contract by City of Kent?
Pingree 2000 Real Estate Holdings LLC was awarded this government contract by City of Kent, as recorded on November 11, 2026. The contract value is Approximately $14,406,762.00, plus or minus 10%, including $650,000 for land and building acquisition, $1,626,762 for building renovations, $40,000 for machinery and equipment, $90,000 for furniture and fixtures, and $12,000,000 for vehicle inventory.
How much is the Pingree 2000 Real Estate Holdings LLC contract with City of Kent worth?
The Pingree 2000 Real Estate Holdings LLC contract with City of Kent is valued at Approximately $14,406,762.00, plus or minus 10%, including $650,000 for land and building acquisition, $1,626,762 for building renovations, $40,000 for machinery and equipment, $90,000 for furniture and fixtures, and $12,000,000 for vehicle inventory.
What type of contract is this?
This is a government contract, documented as a contract record.
Where was this contract approved?
This contract appears in 2026 055 CRA II AGREEMENT (AMENDING) ENTERPRISE RENT A CAR RENOVATION Signed (Contract), dated November 11, 2026 from City of Kent. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Pingree 2000 Real Estate Holdings LLC hold?
Pingree 2000 Real Estate Holdings LLC may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Kent currently buying?
Explore City of Kent's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.
