Fletcher receives low-interest Ohio Water Development Authority loan for water tower

For the Miami Valley Today

MIAMI VALLEY — The Ohio Water Development Authority (OWDA) awarded $946,746 through low-interest loans to Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans, including a loan going to the village of Fletcher for its water tower.

For the month of December, OWDA funded four projects that will provide improvements and replace aging infrastructure. The four awarded projects received an interest rate ranging from 1.66% to 1.90%.

For December 2021, the following Ohio communities are receiving funding from OWDA’s Fresh Water Loan Program:

• The village of Fletcher in Miami County is receiving $52,900 at 1.90% for five years for the design of 100,000 gallon water tower to replace the existing tower, which has exceeded its useful life.

• The village of Hamler in Henry County is receiving $104,800 at 1.90% for five years for the design of a 100,000 gallon water tower to replace the existing tower, which has exceeded its useful life.

• The city of Wyoming in Hamilton County is receiving $261,732.70 at 1.66% for 20 years for the construction of improvements to the Hilltop Park storage tank to extend its useful life.

• The city of Zanesville in Muskingum County is receiving $527,364 at 1.66% for 20 years for the construction of 4,400 feet of waterline along Newark Road to replace aging waterlines.

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.

More information about OWDA’s financing programs is available at www.owda.org.