COLUMBUS – The Ohio Water Development Authority (OWDA) awarded $2 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 February, the Authority funded six projects, including one in Champaign County, that will provide improvements and replace aging infrastructure. The six awarded projects received an interest rate ranging from 1.71% to 3.91%.
For February 2023, the Village of Mechanicsburg in Champaign County is receiving $150,000 at 3.91% for 5 years for the design of 2,500 feet of sanitary sewer to reduce inflow and infiltration into the collection system. The funds are part of OWDA’s Fresh Water Loan Program.
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 assures 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.