LISBON — The Columbiana County Port Authority board recently agreed to renew an option agreement and right of first refusal with Pennex Aluminum for two lots at the World Trade Park in Leetonia for one year in anticipation of possible growth.

“They do envision further expansion,” CCPA Executive Director Brittany Smith said.

The option to purchase the property was first approved on Nov. 22, 2024 and now has been renewed for another year until Sept. 30, 2026. As part of the deal, Pennex must pay a $5,000 option fee which would go towards the purchase price if the company decides to buy the land.

“Pennex has a long history of investing in our Leetonia facility, and that commitment continues today. We see this location as a vital part of our operations, with strong potential for future growth. While we are focused on supporting our current employees, customers, and community, we are also always looking ahead at opportunities to expand our presence here in Leetonia,” Pennex President Mark Butterfield said in a statement provided by Smith.

In other business, the CCPA agreed to extend a line of credit to the Columbiana County Park District for $200,000 to help cover the costs of a pair of projects up front and then for the park district to use the reimbursement from the two grants to pay the money back. The grants are reimbursement style funding requiring the park district to pay up front, then be reimbursed for what was spent.

One grant is from the Capital Budget and one is from the Ohio Trail Partnership Program, with each to cover improvements and maintenance to the Little Beaver Creek Greenway Trail.

The money must be drawn in $50,000 increments and the interest rate will be 4 % per annum, with all principal and accrued interest to be paid off by June 1, 2027.

Smith reported that the pre-application to the Ohio Mideastern Governments Association for the Columbiana County Downtown Building Renovation and Signage Program was selected to move forward to the full application phase. The board gave her permission to submit the application, which is due in December. The grant, if approved, will total $250,000, with a required match of $250,000 which will come from selected building and business owners. The resolution the board approved was required by the Appalachian Regional Commission and the Ohio Governor’s Office of Appalachia.

The board renewed the following one-year lease renewals:

— Easterseals of Mahoning, Trumbull and Columbiana counties, 3,500 square feet of lower level office space at 7876 Lincole Place, Lisbon, $2,875 per month.

— Portage County Combined General Health District/Women, Infants and Children (WIC) Program, 3,500 square feet of upper floor office space at 7876 Lincole Place, Lisbon, $2,125 per month.

— Tri State Tool & Hoist, Inc., 1,480 square feet at Leetonia Industrial Building, Cherry Fork, Leetonia, $456 per month.

— Mitsubishi Heavy Industries America, Inc., 11,820 square feet at Leetonia Industrial Builidng, Cherry Fork, Leetonia, $3,397 per month.

— Paragon Integrated Services Group, LLC, 45,000 square feet vacant laydown land at Wellsville Intermodal Facility, Clark Avenue, Wellsville, $1,750 per month.

The board also approved renewal of a Consumers National Bank CD for six months at 3.54 percent interest. Financial reports were approved for July and August.

The next board meeting will be 5 p.m. Nov. 24 at the port authority headquarters, 7860 Lincole Place, Lisbon.