City of Kent Council Committee Meeting Agenda Packet 2026-06-03
Kent Alters Parking Lot Cost-Sharing With College Town Kent
Trusted by teams at
Description
The City of Kent is proposing a third amendment to its long-term ground lease with College Town Kent, LLC to replace a fixed $30,000 annual parking lot fee with payment of 29.76% of actual documented maintenance costs. The change aligns lessee payments with actual upkeep expenses for the South Water Street lot serving downtown redevelopment.
Contract Details
Contract Amount
Lessee to pay 29.76% of documented actual maintenance costs for South Water Street surface lot (e.g., $15,000 January–June 2026, then 29.76% annually)
Vendor
COLLEGE TOWN KENT LLC
Agency
Portage Area Regional Transit Authority, OH
Contract Type
FACILITIES
Document Date
May 30, 2026
Contract Term
Ongoing through remainder of 75-year ground lease initiated September 6, 2011; amended effective June 2026
Renewal Info
Amendment modifies cost-sharing formula for maintenance during the remaining term of the original 75-year lease; no discrete renewal date is specified for this amendment.
More 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
Want to learn more?
Get alerts on contract renewals, new awards, and vendor activity.
Bring us your territory.
We'll show you what is forming.
See live SLED buying signals, source docs, decision-makers, contract context, and the next step into your CRM or pipeline.