Ohio Water Development Authority awards grants

COURTESY OF THE OHIO WATER DEVELOPMENT AUTHORITY
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The Ohio Water Development Authority recently awarded $77.8 million in grants through the Fresh Water Refinance Loan Program.

The program provides financial assistance for the refinancing of debt for drinking water, wastewater, and storm water projects. The 42 projects received an average interest rate reduction of 3.36%.

OWDA was created to provide funding for construction of public water and wastewater infrastructure in Ohio. It 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.

The low borrowing rates allow local governments to construct necessary water and sewer improvements while minimizing the impact to user charges.

For information: owda.org.

This article originally appeared on The Times-Reporter: Ohio Water Development Authority awards grants