Checotah Public Works Authority receives $1,442,000 water system funding from OWRB
OKLAHOMA CITY – The Checotah Public Works Authority (Authority) received approval for $1,442,000 in funding 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) where $1,000,000 of the loan will be in the form of loan forgiveness.
The Authority will utilize the proceeds to replace approximately 5,300 linear feet of deteriorated water line with new PVC water line in the southern portion of its distribution system. These improvements will ensure water pressure is maintained for residents and businesses within the Authority.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,558,500 over the life of the 10-year loan compared to traditional financing. The DWSRF loan will be secured with a lien on the revenues of the Authority’s water, sewer, and sanitation systems, a 3-cent sales tax, and a mortgage.
A representative of Checotah stated, “The City of Checotah appreciates the OWRB’s help in providing funds for our water line replacement project. We have used the Board's loan programs in the past which allowed us to improve our system at competitive rates and terms and recognize the valuable assistance the Board offers in meeting critical utility needs. We are pleased to come back to the Board for this important project.”
The DWSRF program is administered by the OWRB and the Oklahoma Department of Environmental Quality (ODEQ) with partial funding from the U.S. Environmental Protection Agency (EPA). The DWSRF program has provided approximately $2 billion in drinking water loans to provide communities the resources necessary to maintain and improve the infrastructure that protects our valuable water resources statewide.
Since 1983, the Oklahoma Water Resources Board has approved over $6.2 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
Julie Cunningham, Executive Director of the OWRB, and Scott Thompson, Executive Director of the ODEQ, express their sincere appreciation to State Senator Roger Thompson and Representative Neil Hays for their support of the DWSRF program.
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Contacts:
Joe Freeman
Oklahoma Water Resources Board
(405) 530-8800
Joe.Freeman@owrb.ok.gov
Eddie Rhandour
Oklahoma Department of Environmental Quality
(405) 702-8100
Eddie.Rhandour@deq.ok.gov
