Ohio Water Development Authority - Serving Ohio Since 1968

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Interest Rates


3/1/2023 - 3/31/2023

Fresh Water Program
Market Rate

Loan Terms 5 to 20 Years:  3.74%
Loan Terms 21 to 30 Years:  3.98%

Fresh Water Program
Community Assistance

Loan Terms 5 to 20 Years:  1.54%
Loan Terms 21 to 30 Years:  1.78%

Loan Advance Program

Loan Term up to 3 Years: 4.11%


Loan Terms 5 to 20 Years
Standard Rate: 2.49%
WPCLF Small Systems:  1.99%
DWAF Small Systems:  1.99%

Loan Terms 21 to 30 Years
Standard Rate:  2.68%
WPCLF Small Systems:  2.18%
DWAF Small Systems:  2.18%

Loan Terms 31 to 45 Years *
Standard Rate:  2.83%
WPCLF Small Systems:  2.33%

* Applies to WPCLF Program only.

Refinance Rates

Estimated as of March 23rd, 2023*
10 Year Term Tax-Exempt: 2.63%
20 Year Term Tax-Exempt: 2.82%
30 Year Term Tax-Exempt: 3.61%

10 Year Term Taxable: 4.32%
20 Year Term Taxable: 4.63%
30 Year Term Taxable: 4.98%

* 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's regular monthly Board meeting will be held on Thursday, March 30, 2023 at 10:30 a.m.

The meeting will be held at 480 South High Street, Columbus, Ohio, 43215. 

The meeting will be available via live stream through the link provided prior to the board meeting here.

Board Meeting Agenda


The Ohio Water Development Authority seeks a Loan Analyst who will work with local governmet agencies to plan, structure, and award loans and grants for environmental infrastructure projects. In addition, the Loan Analyst will analyze the financial capacity of local government agencies, and provide risk analyses to the Loan Officer. Qualifications include a Bachelor's Degree from an accredited institution or equivalent experience in a related field. This is a full-time, hybrid work location position. Generous benefits feature medical/dental/vision insurance, paid leave, and Ohio Public Employees Retirement System. Click here for more job details. E-mail resume as an attachment to hr@owda.org or fax to 614-448-3367. 


The Ohio Water Development Authority awarded $2.0 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 6 projects that will provide improvements and replace aging infrastructure. The 6 awarded projects received an interest rate ranging from 1.71% to 3.91%.

Click here for the full press release.


The Ohio Water Development Authority announces its upcoming sale of Water Pollution Control Loan Fund Revenue Bonds, Series 2021A. This will be OWDA's first issuance of Green Bonds, marking OWDA's commitment to environmental responsibility.

Click here for the full press release.

REVISED Fresh Water Construction Loan Application

On May 27, 2021, the OWDA Board approved changes to the interest rate discount for construction loans in the Fresh Water Loan Program guidelines. The loan application has been updated to show these changes, which are effective with the July 1, 2021 application deadline. Additional information is located on the Construction/Planning Loan Program. 

Click here


Refinance Logo On January 28, 2021, the Ohio Water Development Authority Board approved the program guidelines for the Fresh Water Refinance Loan Program. Through this program, OWDA can refinance the debt for drinking water, wastewater, and storm water projects. 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

Ohio State Flag

Mike DeWine


James V. Stewart


Ken J. Heigel, P.E.

Executive Director

Board Members

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SEC Municipal Advisor Notice

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, March 30, 2023 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

Audited Financial Statement

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