City of North Ridgeville Community Reinvestment Area Housing Council Meeting Agenda Packet 2026-05-19
Rhenium Alloys CRA Abatement Continued by Council
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Description
The North Ridgeville CRA Housing Council unanimously approved the continued tax abatement for Rhenium Alloys, Inc., finding the company in compliance with its 2012, 15-year agreement. The abatement, which has been stepping down since 2022, remains in effect through 2026.
Contract Details
Vendor
RHENIUM ALLOYS INC
Agency
City of North Ridgeville, OH
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
2012 / 15 yrs; 100% abatement through 2021; 20% annual reduction beginning 2022; 0% in 2026; Term through 2026
Renewal Date
2026-12-31
Renewal Info
CRA tax abatement started in 2012 for 15 years, with 100% abatement through 2021 and a 20% annual reduction from 2022 until reaching 0% in 2026. In April 2025, the Housing Council affirmatively continued the agreement toward its scheduled expiration.
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