Ohio Water Development Authority - Serving Ohio Since 1968

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Interest Rates

Period:

02/1/2021 - 02/28/2021

OWDA Market Rate Program


Loan Terms 5 to 20 Years:  1.68%
Loan Terms 21 to 30 Years:  1.89%

Community Assistance


Loan Terms 5 to 20 Years:  0.50%
Loan Terms 21 to 30 Years:  0.75%

Loan Advance Program


Loan Term up to 3 Years: 1.67%

WPCLF and DWAF (WSRLA) Rates


Loan Terms 5 to 20 Years
Standard Rate: 0.43%
WPCLF Small Systems:  0.22%
DWAF Small Systems:  0.00%

Loan Terms 21 to 30 Years
Standard Rate:  0.59%
WPCLF Small Systems:  0.30%
DWAF Small Systems:  0.09%

Loan Terms 31 to 45 Years *
Standard Rate:  0.74%
WPCLF Small Systems:  0.37%

* Applies to WPCLF Program only.

Refinance Rates

Estimated as of February 19th, 2021*
10 Year Term Tax-Exempt: 0.66%
20 Year Term Tax-Exempt: 1.28%
30 Year Term Tax-Exempt: 1.76%

10 Year Term Taxable: 1.05%
20 Year Term Taxable: 2.12%
30 Year Term Taxable: 2.58%

* Rates are based on the market as of the date listed and an estimated weighted average maturity (“WAM”) for each loan term. Based upon an assumed level 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

Construction and Planning Loan applications are due the 1st of each month, except for November (no meeting) and December. 

Refinance loan applications are accepted on open cycle.  


                           

Loan Processor Employment Opportunity

The Ohio Water Development Authority seeks a Loan Processor to accurately manage loan documentation through the loan approval process and ensure documents are complete and comply with Authority guidelines. This is a full-time, non-exempt position. Qualifications include high school graduate with college coursework in the business area and a minimum of five years experience in a similar capacity. Generous benefits feature medical insurance, paid leave, and participation in the Ohio Public Employees Retirement System.  Click here for more job details.  E-mail resume as attachment to HR@owda.org or fax to 614-448-3367.  Application deadline is March 5, 2021.


FRESH WATER REFINANCE LOAN PROGRAM

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.


LOAN REPAYMENTS and COVID-19

We understand the difficulties the current COVID-19 crisis has created. The disruption of our day-to-day lives and the economic upheaval resulting from efforts to slow the impact of the virus are forcing everyone to make tough decisions. It is, however, important to remember when you are making choices regarding your loan repayments, that we at the Ohio Water Development Authority are also required to make repayments, which relate to outstanding bonds that were originally issued to provide the funds that allowed us to deliver efficient and low cost loans.

The Authority relies on the loan repayments from our borrowers to make these bond payments, and we are unable to skip or defer any such payments. Again, we understand and are fighting against the same economic realities that are confronting us all during this crisis, but we wanted to take this opportunity to explain how important it is to the Authority that you stay current with your loan repayments.

Together, we will be able to navigate the difficult path ahead. We want to assure you that we will still be able to continue to offer local governments in the State of Ohio, the low interest rate loans that we have offered you for over 50 years. Thank you for your understanding.


NOTICE: Update to Disbursement Procedures-Electronic Submissions

In response to concerns relating to COVID-19, the Ohio Water Development Authority is strongly recommending electronic submission of disbursement/fund payment requests. Please follow these guidelines:

  • Each disbursement request should be submitted as a single PDF attached to an email sent to disbursements@owda.org
  • The subject line of the email should include the 4-digit account number
  • Specific OWDA staff should not be cc'd: on submission emails
  • Submissions must be in PDF format. Word, Excel, etc. documents will not be accepted
  • Hard copies should not be mailed for disbursement requests submitted electronically
  • The first page of the disbursement request should be a completed and signed Fund Payment Request form
  • Supporting documentation should follow the Fund Payment Request form for each disbursement request
Electronic submission is highly recommended to ensure timely processing. Payment requests may still be mailed as hard copies via U.S. Postal Service (FedEx, UPS, etc. should not be used during this time) but payment may experience significant delays. Please mail to:

OWDA
480 South High Street
Columbus, OH 43215

Loan Application Submission

The OWDA staff is working remotely to perform all operations of the Authority. Please follow normal procedures to submit a loan application for approval.

Governing Body

Ohio State Flag

Mike DeWine

Governor


James V. Stewart

Chairman 


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)

Meetings

Board Meetings:

The next scheduled Board Meeting is Thursday, March 25, 2021 at 10:30 a.m. at the Ohio Water Development Authority, 480 South High Street, Columbus, Ohio. 
There is no meeting in November. 

Ohio Rural Community Assistance Program (RCAP) Seminars.

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

Publications

2019 Annual Report


Audited Financial Statement


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