(PRESS RELEASE) – The Ohio Water Development Authority (OWDA) awarded $11.7 million through low interest loans to Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans.
For the month of October, the Authority funded 10 projects that will provide improvements and replace aging infrastructure.
The 10 awarded projects received an interest rate ranging from 1.87% to 3.78%. For October 2024, the following Ohio communities are receiving funding from OWDA’s Fresh Water Loan Program:
·The Village of Pioneer in Williams County is receiving $847,005.00 at 3.31% for 20 years for the construction of 1,800 feet of waterline and 1,700 feet of storm sewer along Cedar and Dearborn Streets to replace aging waterlines and sewers.
·The City of Columbus in Franklin County is receiving $598,716.73 at 3.78% for 5 years for the design of improvements to stormwater pump station #29 to extend its useful life.
·The City of Columbus in Franklin County is receiving $5,948,170.63 at 3.78% for 20 years for the construction of 12,300 feet of 72-inch sanitary sewer to extend the Big Walnut trunk sewer and provide sanitary service further into the northeastern Franklin County and southern Delaware County service areas.
·The City of Columbus in Franklin County is receiving $310,608.95 at 3.78% for 20 years for the construction of a roof for the Monitoring and Control Addition building at the Southerly wastewater treatment plant to replace the existing roof, which has exceeded its useful life.
·The Village of Marengo in Morrow County is receiving $142,497.00 at 3.78% for 5 years for the design of 3,800 feet of sanitary sewer and pump station improvements to increase conveyance capacity for future development.
·Montgomery County is receiving $1,164,698.00 at 3.31% for 20 years for the construction of 9,200 feet of waterline along Jassamine, Daffodil Circle, Dahlia, and Homedale Streets in Miami Township to replace aging waterlines.
·The Northwestern Water & Sewer District is receiving $1,663,080.12 at 3.31% for 20 years for the construction of 3,000 feet of waterline along Farnstead Drive in the City of Northwood to replace aging waterlines.
·The City of Sandusky in Erie County is receiving $515,702.50 at 3.31% for 20 years for the construction of 1,800 feet of waterline along East Perkins Avenue to replace aging waterlines.
·The Village of Thurston in Fairfield County is receiving $33,466.00 at 3.78% for 5 years for the design of a 500,000-gallon water storage tank to replace an existing tank that has exceeded its useful life.
·The Village of West Milton in Miami County is receiving $514,814.00 at 1.87% for 30 years for the construction of 1,600 feet of waterline under the Stillwater River to replace an aging waterline.
The State of Ohio created the OWDA to provide funding for construction of public water and wastewater infrastructure in Ohio. Since its creation in 1968, OWDA has pursued borrowing that assure the OWDA the lowest cost of funds in order to maintain low borrowing rates for the local governments of Ohio.
These low borrowing rates allow local governments to construct necessary water and sewer improvements while minimizing the impact to user charges.
More information about OWDA’s financing programs is available at www.owda.org.