The Chouteau Public Works Authority Receives $1,200,000 Water Infrastructure Loan with $600,000 in Principal Forgiveness from the OWRB
OKLAHOMA CITY – The Chouteau Public Works Authority (Authority) received approval for a $1,200,000 loan with $600,000 in principal forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure. Construction of upgrades and improvements to the water system will be financed by the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The Authority operates a water system that contains a deteriorating water line. The aging line is prone to breaks and leaks, resulting in increased operation costs and unreliable water service throughout the service area. The proposed project is to replace this water line with approximately 13,363 linear feet of 6-inch PVC pipe and 870 linear feet of 8-inch PVC pipe. This project will improve service reliability and water quality for the residents and businesses in and near the Authority, as well as mitigate further damage to the system.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,995,600 over the life of the 30-year loan compared to traditional financing. The DWSRF loan will be secured with a lien on the Authority’s water, sewer, sanitation, and gas revenues and a 1 cent sales tax.
The Chouteau Public Works Authority’s officials attending the OWRB’s monthly meeting in support of the loan application included Town Administrator and Authority Superintendent Kevin Soap. “I would like to say thank you. This loan is going to help Chouteau out greatly,” said Soap when addressing the Board.
“This funding will help replace aging water lines, reduce costly repairs and leaks and ensure more reliable water service for residents in Chouteau," said Sen. Julie McIntosh, R-Porter. "The current infrastructure is unreliable and outdated. These improvements are necessary and will save money and time in the long run. I’m proud to support investments that strengthen our water infrastructure and protect these vital resources for the future.”
Julie Cunningham, Executive Director of the OWRB, and Rob Singletary, Executive Director of the Oklahoma Department of Environmental Quality (ODEQ), express their sincere appreciation to State Senator Julie McIntosh and State Representative Tom Gann for their support of the DWSRF program.
The DWSRF program is administered by the OWRB and ODEQ with partial funding from the U.S. Environmental Protection Agency (EPA). The DWSRF program has provided approximately $2.5 billion in drinking water loans to provide communities with the resources necessary to maintain and improve the infrastructure that protects our valuable water resources statewide.
Since 1983 the Water Resources Board has approved over $9.3 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
Established in 1957, the Oklahoma Water Resources Board (OWRB) serves as the state’s water resources planning and development agency. A nine-member Board oversees the OWRB, with members appointed by the Governor to represent nine geographic regions and water-use sectors. The OWRB is committed to managing, protecting, and improving Oklahoma’s water resources to meet long-term water supply, water quality, flood mitigation, and infrastructure needs. For more information, visit Oklahoma.gov/owrb.
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Contacts:
Lori Johnson
Oklahoma Water Resources Board
Chief, Financial Assistance Division
(405) 530-8800 Lori.Johnson@owrb.ok.gov
Isaac Cornelson
Oklahoma Department of Environmental Quality
(405) 702-8104
Isaac.Cornelson@deq.ok.gov
