Construction Equipment Guide
470 Maryland Drive
Fort Washington, PA 19034
800-523-2200
Tue August 21, 2018 - Midwest Edition #17
Communities in Northwest Ohio are receiving nearly $87 million in low-interest and principal forgiveness funding from Ohio EPA to improve wastewater and drinking water infrastructure and make other water quality improvements. The loans were approved between April 1 and June 30, 2018.
The lower interest rates and forgiven principal will save these communities more than $17 million. Statewide, Ohio EPA awarded more than $374 million in loans during the second quarter of the year, including more than $22 million in principal forgiveness. Combined, Ohio communities will save more than $83.6 million when compared to market-rate loans.
The following Northwest Ohio projects are receiving funding:
Created in 1989, the Water Pollution Control Loan Fund (WPCLF) helps communities improve their wastewater treatment systems. The Water Supply Revolving Loan Account (WSRLA), started in 1998, provides loans for improvements to community drinking water systems and nonprofit, noncommunity public water systems. Both programs offer below-market interest rate loans, which can save communities a substantial amount of money compared to market-rate loans.
Ohio EPA's state revolving fund (SRF) loans are provided to communities to build and upgrade wastewater and drinking water infrastructure, upgrade home sewage treatment systems, better manage storm water, address combined sewer overflows and implement other water quality-related projects. Financial assistance helps support planning, design and construction activities and enhances the technical, managerial and financial capacity of these systems. WPCLF loans also make possible the restoration and protection of some of Ohio's highest quality water bodies through the fund's Water Resource Restoration Sponsor Program.
Ohio's SRF loan programs are partially supported by annual federal capitalization grants and have grown substantially over time because of the revolving nature of the loan issuance and payments back into the fund. The SRF programs are managed by Ohio EPA's Division of Environmental and Financial Assistance, with assistance from the Ohio Water Development Authority. Ohio EPA is responsible for program development and implementation, individual project coordination, and environmental and other technical reviews/approvals of projects seeking funds. The Ohio Water Development Authority provides financial management of the SRF funds.
For more information, visit epa.ohio.gov/defa/EnvironmentalandFinancialAssistance.aspx.