Final lease agreement inked between university and Portage Port Authority for 3.75 acres
The final agreement between Kent State University and the Portage Port Authority shows Kent State will pay $4.25 million to lease the former DuBois Book Store property on South Lincoln Street. In December, Kent State's trustees voted to agree to lease the 3.75 acres from the port authority, an economic development body comprised of members appointed by the Portage County Commissioners. The exact total, $4,254,902, includes $4,165,502.98 for principal and interest, $89,400 for the annual administrative fee and a $3.7 million security deposit. "The security deposit money will come back to the university," Kent State spokesperson Emily Vincent said. The book store closed in the summer of 2011. Howard DuBois, whose family founded the store in …
41.151143
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332 S Lincoln St, Kent, OH
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University trustees approve deal to use 3.75 acres as staging area for construction of new architecture college with option to buy
In 15 years, Kent State University could own the vacant former DuBois Book Store property at the corner of Summit and South Lincoln streets, according to university officials. The Kent State University Board of Trustees voted unanimously Wednesday — with one abstention — to approve a tenative deal that would see Kent State lease the property from the Portage Port Authority, an economic development body comprised of members appointed by the Portage County Commissioners. Kent State President Lester Lefton said immediate plans for the property are to use it as a construction staging area for the new College of Architecture and Environmental Design, which will stand on the new Esplanade extension into downtown. "We see that as a strategic …
41.151143
-81.351351
332 S Lincoln St, Kent, OH
/articles/kent-state-to-lease-vacant-dubois-property-from-portage-development-board
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Chris (Kit) Myers
9:55 pm on Sunday, March 24, 2013
Students upon graduation can get a job. It may not be the ideal job and it may not be in their field, but it is a start. more ›