Broken Arrow Municipal Authority receives $20,750,000 loan from the OWRB for wastewater system improvements

OKLAHOMA CITY – Broken Arrow Municipal Authority (Authority) received approval for a $20,750,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve its wastewater infrastructure.

The Authority will use the proceeds for design of the Haikey Creek wastewater treatment plant, to evaluate the alternatives for the Haikey Creek lift station expansion, rehabilitate sewer infrastructure in the Melinda Park neighborhood, to replace sewer lines in Camino Village, install 5,300 linear feet (lf) gravity sewer line and 3,400 lf of force main, install a new 1.1 million gallon per day submersible duplex lift station for a new development, and for design as well as property costs for the Cambridge lift station improvements.

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $443,600 over the life of the 30-year loan compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s water, sewer, and sanitation systems and a one cent sales tax.

The Authority’s Finance Director, Cindy Arnold, stated, “Broken Arrow appreciates everything OWRB does with the City and has completed some great projects with the help of OWRB.”

Since 1983, the Oklahoma Water Resources Board has approved over $6.8 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.

“We are grateful to State Legislators from the Broken Arrow area for their continued support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.

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Contact:
Joe Freeman
Oklahoma Water Resources Board
(405) 530-8800
Joe.Freeman@owrb.ok.gov