CIRCLEVILLE — The Ohio Water Development Authority (OWDA) awarded $2.2 million through low-interest loans to Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans.
In September, the Authority funded six projects that are to provide improvements and replace aging infrastructure. The six awarded projects received an interest rate ranging from 1.46 percent to 1.67 percent.
In September 2021, the City of Circleville received funding from OWDA’s Fresh Water Loan Program:
The City of Circleville in Pickaway County received $466,628.00 at 1.64 percent for 30 years for the construction of a new production well and raw waterline to increase raw water capacity and replace abandoned Well No. 6.
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.