State gives loans for upgrades to water

Avon Lake and Grafton will receive loans from the Ohio Water Development Authority to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans.

Avon Lake is receiving a loan for $724,126 at 1.28% for 20 years for the construction of improvements to the waste water treatment plant effluent structure to reduce combined sewer overflows, according to a news release from the Water Development Authority.

Grafton Village will receive $299,863 at 1.28% for 10 years for construction of 2,700 feet of waterline along Mechanic and Crook Streets to replace aging waterlines, the release said.

In total, the Ohio Water Development Authority is awarding $38 million through low interest loans and grants to Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements for Ohioans, said a news release.

For the month of January, the Authority funded 14 projects that will replace aging infrastructure, expand capacity of treatment plants, extend service areas, and install technology for better water quality.

Of the 14 awarded projects, seven received an average interest rate of 1.35% for five to 20 years, five projects received an average interest rate of 1.5% for 30 years and two projects qualified to receive grants at an interest rate of 0.00%, the release said.

For January 2021, the following Ohio communities are receiving funding from OWDA’s Fresh Water Loan Program:

The state created the Water Development Authority to provide funding for construction of public water and wastewater infrastructure in Ohio.

Since its creation in 1968, the Authority has pursued borrowing that assure the agency the lowest cost of funds in order to maintain low borrowing rates for the local governments of Ohio, the release said.

These low borrowing rates allow local governments to construct necessary water and sewer improvements while minimizing the impact to user charges.