Claremore Public Works Authority receives $28,000,000 loan from the OWRB for water system improvements

OKLAHOMA CITY – Claremore Public Works Authority (Authority) received approval for a $28,000,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their  water infrastructure. 

The Authority will use these proceeds for upgrades to its water treatment plant. The proposed project will include the demolition of the current raw water pump station, maintenance shop, and solids  handling building and basin. Additionally, a new water treatment plant, to include a permanganate  pre-oxidation mix tank for enhanced coagulation, low lift pump improvements, greensand filtration, and chemical systems, will be constructed.   

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s  customers will save an estimated $521,100 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 and sewer  systems and a 1% sales tax. Local officials attending the OWRB’s monthly meeting in support of the loan application included Claremore Assistant City Manager, Stan Brown, Director of Finance, Suzan Maloy, and City Engineer, Garrett Ball. Mr. Brown stated, “Thank you for this opportunity. Claremore has seen tremendous growth and is need of these improvements for the system and users going forward.” 

Since 1983, the Oklahoma Water Resources Board has approved over $6.5 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma. 

“We are grateful to State Senator Ally Seifried and State Representative Mark Lepak 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