Ohio communities receive $62.8 million in financing
The Ohio Water Development Authority (OWDA) awarded $62.8 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 December, the authority funded nine projects that will provide improvements and replace aging infrastructure. The nine awarded projects received an interest rate ranging from 2.00% to 4.26%.
The City of Coshocton is receiving $2,426,463.00 at 3.73% for 15 years for installation of 5,200 water meters to replace existing meters that have exceeded their useful life. Delaware County, the Village of Grafton in Lorain County, the city of London in Madison County, the city of Sandusky in Erie County, Southwest Licking Community Water and Sewer District in Licking County, the Village of Spring Valley in Greene County, and Montgomery County all received funding.
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.
Category: People & Places
