Whether building new or expanding your company, the City of North Ridgeville has tools to help our businesses grow and thrive.
COMMUNITY REINVESTMENT AREA
Our citywide Community Reinvestment Area program offers real property tax exemptions for eligible commercial and industrial construction projects that result in job creation.
Applications for incentives must be submitted and negotiations with the City must be initiated before a development plan application is submitted to Planning Commission for consideration, or in cases where development plan approval is not required, before any building permits are issued for the project. Review program guidelines and download the application below.
TAX INCREMENT FINANCING
The City’s Tax Increment Financing (TIF) Program locks in the taxable value of real property in place at the time the city authorizes the TIF. A portion of the property taxes on the new value created by new investment are redirected to a separate fund that can be used to pay for improvements on land, to public infrastructure or other public purpose investments in the TIF area. The city has 13 TIF districts and the ability to create a TIF specific to a project.
INFRASTRUCTURE PLANNING AND INVESTMENT
The City will work with prospective and existing companies to identify site planning and location infrastructure needs. Projects in eligible areas may be supported by tax increment financing (TIF) funds.