Serving Lucas, Ottawa, Sandusky and Wood Counties
The Ohio Water Development Authority (OWDA) awarded $30.97 million through low interest loans to several Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans.
For the month of June, the OWDA funded eight projects that will provide improvements and replace aging infrastructure. The awarded projects received an interest rate ranging from 3.91 percent to 4.69 percent.
Among those projects was Pemberville, which received $401,399.44 at 4.30 percent for 30 years for the construction of a 150,000 gallon water storage tank to replace an existing tank which has exceeded its useful life.
The State of Ohio created the OWDA to provide funding for the 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.
