Ohio Water Development Authority Lends More Than $ 2 Million To Miami Valley Cities For Improvements
COLUMBUS, Ohio (WDTN) – The Ohio Water Development Authority (OWDA) has awarded cities statewide $ 11.9 million in low-interest loans and grants to improve wastewater treatment infrastructure and drinking water, as well as to improve the overall water quality.
Cities in the Miami Valley have received about $ 2.2 million in loans for improvements.
In March, the OWDA funded four projects in the Miami Valley with its freshwater loan program:
- Village of Covington, Miami County Receives $ 300,000.00 at 0.50% for 20 Years to Build 6,400ft Waterline Along State Route 48 to Replace Aging Waterlines
- Montgomery County receives $ 116,406.00 at 1.18% over 20 years to build 3,600 feet of waterline along Spinning Road and Eastman Avenue to replace aging water lines
- Montgomery County receives $ 685,000.00 at 1.18% for 20 years to construct 3,500 feet of sanitary sewer along Terrace Villa Drive to increase hauling capacity
- Town of Springfield, County of Clark receives $ 1,135,000.00 at 1.38% for 30 years to build 320 water lines across town to replace aging water lines
The State of Ohio created the OWDA to finance the construction of public water and wastewater treatment infrastructure in Ohio. Since its inception in 1968, the OWDA has pursued loans that provide the OWDA with the lowest cost of financing in order to keep borrowing rates low for local governments in Ohio. These low borrowing rates allow local governments to build necessary water and sewer upgrades while minimizing the impact on user fees.
More information on OWDA’s funding programs is available at owda.org.