Ohio Water Development Authority - Serving Ohio Since 1968

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Interest Rates


2/1/2024 - 2/29/2024

Fresh Water Program
Market Rate

Loan Terms 5 to 20 Years:  3.72%
Loan Terms 21 to 30 Years:  4.07%

Fresh Water Program
Community Assistance

Loan Terms 5 to 20 Years:  1.52%
Loan Terms 21 to 30 Years:  1.87%

Loan Advance Program

Loan Term up to 3 Years: 4.35%


Loan Terms 5 to 20 Years
Standard Rate: 2.47%
WPCLF Small Systems:  1.97%
DWAF Small Systems:  1.97%

Loan Terms 21 to 30 Years
Standard Rate:  2.77%
WPCLF Small Systems:  2.27%
DWAF Small Systems:  2.27%

Loan Terms 31 to 45 Years *
Standard Rate:  2.92%
WPCLF Small Systems:  2.42%

* Applies to WPCLF Program only.

Refinance Rates

Estimated as of February 15th, 2024*
10 Year Term Tax-Exempt: 2.74%
20 Year Term Tax-Exempt: 2.88%
30 Year Term Tax-Exempt: 3.54%

10 Year Term Taxable: 4.74%
20 Year Term Taxable: 5.18%
30 Year Term Taxable: 5.61%

* Rates are based on the market rate as of the date listed and using the weighted average maturity (“WAM”) for each loan term. Based upon an assumed level payment amortization, a 10-year loan is estimated to have a WAM of 5 years, a 20-year loan a WAM of 11 years and a 30-year loan a WAM of 16 years.

Loan Application Deadline

The OWDA Board meets the last Thursday of the month during January to October; and the second Thursday in the month of December. Applications are due the 1st of the month that the loan will be approved. For December approval, the loan application is due on November 1st.

Refinance loan applications are accepted on open cycle.


The Ohio Water Development Authority awarded $23.8 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 January, the Authority funded 13 projects that will provide improvements and replace aging infrastructure. The 13 awarded projects received an interest rate ranging from 3.79% to 4.33%.

Click here for the full press release.


The Ohio Water Development Authority awarded six Research and Development Grant projects totaling $863,406.50. The projects, recommended by the Research and Development Committee, were approved by the Board on September 28, 2023. The Research and Development Grant Program addresses issues related to wastewater, drinking water, water resource management, and solid waste management. The following projects were awarded:

United States Geological Survey, $105,918.50, Predictive Model Validation and Integration of Cyanobacteria Assessment Network (CyAN) Derived Satellite Products to Estimate Nearshore, Toxic Cyanobacteria Bloom Accumulation in USGS Midcontinent Region Lakes and Reservoirs - Inland Lakes in Ohio.

University of Toledo, $199,698.00, Enhancing the Performance of Granular Activated Carbon Contactors for Contaminant Removal.

Hamilton County Conservation District, $42,854.00, Assessing the Role of Underlying Sanitary Infrastructure in Drying of Hydrologically Sensitive Headwaters.

The Ohio State University, $199,914.00, Transforming Traditional Bioretention Cells into Smart Stormwater Infrastructure through Real Time Controls.

The Ohio State University, $115,069.00, Recycling Water Treatment Residuals to Improve Water Quality Endpoints.

The Ohio State University, $199,953, Field Validation of Stormwater Control Measures for Volume, Sediment, and Nutrient Load Reduction to Ohio Receiving Waters.

Click here for details.

Dupont-Cloverdale Wastewater Plant Receives Recognition with OWDA Funding LOANS

The U.S. Ohio Environmental Protection Agency’s Clean Water State Revolving Fund George F. Ames Performance and Innovation in the SRF Creating Environmental Success Program (PISCES) recognizes projects that demonstrate leadership in innovative financing, system partnerships, community engagement, public health protection, and creative solutions. The 2022 PISCES program has recognized the Village of Dupont and the Village of Cloverdale for their exceptional focus on the environment and public health.

The Village of Dupont and the Village of Cloverdale received funding from OWDA for a regionalized project to construct a regional wastewater treatment plant between Dupont and Cloverdale and an individualized septic tank effluent pump collection system in each community. The funds eliminated 186 failing or compromised home sewage treatment systems.

OWDA awarded the Village of Dupont a $268,792.75 Fresh Water planning loan at 3.12% and a $4,000,000.00 WPCLF Principal Forgiveness loan. Additionally, the Village received a $500,000.00 Un-Sewered Area grant.

OWDA awarded the Village of Cloverdale $902,250.27 WPCLF loan at 0.00% and a $500,000.00 Un-Sewered Area grant at 0.00%.

Click here


Refinance Logo OWDA created the Fresh Water Refinance Loan Program to provide financial assistance for the refinancing of debt for drinking water, wastewater, and stormwater projects. Examples of eligible projects are development or acquisition of potable water sources, construction or expansion of water and wastewater treatment facilities, and installation or improvement of water distribution and wastewater collection systems. The loan application portal is a quick and convenient way to submit the loan application. Fresh Water Program loans, Water Pollution Control Loan Program loans, and the Drinking Water Assistance Fund Program loans are not eligible for this program . Click here for additional information.

Governing Body

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Mike DeWine


R. Gregory Browning


Ken J. Heigel, P.E.

Executive Director

Board Members

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Contact Us

480 South High Street
Columbus, Ohio 43215

614-466-5822 (Main)
614-644-9964 (Fax)
614-448-3367 (HR Fax)
877-OWDA-123 (Toll Free)


Board Meetings:

The next scheduled Board Meeting is Thursday, February 29, 2024 at 10:30 a.m. at the Ohio Water Development Authority, 480 South High Street, Columbus, Ohio. 

Ohio Rural Community Assistance Program (RCAP) Seminars.

Click here for full seminar schedule of topics, dates and times.


2021 Annual Report

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Audited Financial Statement

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