The Ohio Water Development Authority (OWDA) awarded $40.7 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 June, the authority funded 20 projects that will provide improvements and replace aging infrastructure. The 20 awarded projects received an interest rate ranging from 1.75% to 3.98%.
OWDA’s Fresh Water Loan Program gave the Northwestern Water & Sewer District in Wood County $1,475,066.20 at 3.48% for 20 years for the construction of 3,000 feet of waterline and 500 feet of sanitary sewer along Jennings Road in the City of Rossford to replace aging infrastructure.
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.
