The Poteau Valley Improvement Authority Receives $1,200,000 Water System Loan with $600,000 in Principal Forgiveness from the OWRB
OKLAHOMA CITY – The Poteau Valley Improvement 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 as a multi-system network comprised of 16 member municipalities and rural water districts in the Poteau Valley region. The proposed project is to replace existing manual water meters with a cellular fixed-base meter system. This upgrade will allow the Authority to more precisely track water consumption, while reducing the time operators spend reading meters, allowing staff to focus on other system needs. The cellular fixed-base meter system also reduces overhead costs associated with physical meter reading and provides long-term water security for residents and businesses in and near the Authority.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,112,100 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 revenues and will include a mortgage on their water system.
The Poteau Valley Improvement Authority’s official attending the OWRB’s monthly meeting in support of the loan application included Chief Project Engineer David Wyatt. “I have been the engineer for PVIA since 1989,” said Wyatt. “They try to keep their water loss between three and five percent, and it has started to creep up, so it is time to replace them. The Authority appreciates your consideration.”
“This is a much-needed investment that will positively impact the lives of residents served by the Poteau Valley Improvement Authority,” said Sen. Geroge Burns, R-Pollard. “Modernizing the systems used to track water consumption will reduce the time, resources, and costs associated with manual meter readings. This $1.2 million investment will allow operators to devote more time to essential maintenance, helping ensure higher-quality service for consumers. I am always grateful to see the health and well-being of Oklahoma families made a priority.”
Rep. Rick West, R-Heavener, Rep. Eddy Dempsey, R-Valliant, and Rep. Tim Turner, R-Kinta issued the following joint statement in support of the infrastructure investment: "This will provide important support for the Poteau Valley Improvement Authority as it modernizes its water-metering system. Replacing existing meters will improve the accuracy of water-use tracking, reduce the costs associated with manual meter reading, and allow operators to focus more time on essential maintenance."
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 George Burns, State Senator Warren Hamilton, State Representative Rick West, State Representative Eddy Dempsey and State Representative Tim Turner 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
