ADDITIONAL STIMULUS RESOURCES FOR WATER & SEWER PROJECTS ARE STILL AVAILABLE
*Small communities, which are not on the Intended Use Plans for stimulus project funds for water infrastructure projects from the State Revolving Fund programs (administered by the Ohio Environmental Protection Agency), may still be able to receive stimulus funds from the United States Department of Agriculture Rural Development. Loans and grants to finance water and sewer projects for communities and non-profits with populations less than 10,000 are still available this year. Grant amounts are based on need, repayment ability and median household income. All stimulus funding will come from a national pool; to be allocated on a first-come, first-served basis.
For more information about USDA Rural Development, click here.
FRESH WATER PROGRAM INTEREST RATE CHANGES EFFECTIVE May 1, 2009
* Contract Interest Rate Effective 5/1/2009 through 10/31/2010: Calculated monthly, as of the first day of each month, based on previous 8 week average of the Bond Buyer GO 20 Bond Index. Rates for annual loan amounts per local governmental agency above $40,000,000 will be based on previous 8 week average of the Bond Buyer GO 20 Index + .50 basis points. Some discounts available for construction loans.
*For updated Fresh Water Program Guidelines, click here.
NEW PLANNING LOAN PROGRAM FOR UN-SEWERED AREAS
* The Ohio Water Development Authority (OWDA) has recently developed a new planning loan program for un-sewered areas. The program is available to all local government agencies (cities, villages, counties), water and sewer districts, and conservancy districts. Planning loans will be available for the planning and design of publicly owned wastewater systems for un-sewered areas that have failing on-lot sanitary sewer systems.
The program includes an interest rate of 0%. Semi-annual payments will not be required during the planning and design process. The loan will be in due in full when construction begins on the designed project or 10-years following loan approval, whichever date is earlier.
Applications for this program will be accepted until July 15, 2009.
Please e-mail Sue Farmer or Ken Heigel , or contact them at 614-466-5822 if you have any questions.
FRESH WATER PROGRAM LOAN DISCOUNT REVISION
* Please refer to the Fresh Water Program Guidelines for new loan discount cap amounts.