Harrah Public Works Authority receives $10,000,000 loan from the OWRB for wastewater system improvements
OKLAHOMA CITY – Harrah Public Works Authority (Authority) received approval for a $10,000,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their wastewater infrastructure.
The Authority is experiencing an increase in population and commercial business growth. To meet demand, improvements to and expansion of the sewer collection system, in two targeted areas of Harrah, are being addressed. These funds will be used to install approximately 19,500 linear feet (LF) of sanitary sewer main with manholes, replace 5,870 LF of force main, and retrofit one lift station on the Harrah Road Corridor. Additionally, another project will install approximately 14,950 LF of sanitary sewer main with manholes, replace 3,800 LF of force main, and retrofit two lift stations on the NE 23rd Corridor.
According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $1,924,600 over the life of the 29-year loan compared to traditional financing. The loan shall be secured with a senior parity lien on the revenues of the Authority’s water and sewer systems, a 3-cent sales tax, and a mortgage. The local official attending the OWRB’s monthly meeting in support of the loan application was Harrah Mayor, Danny Trent. Mr. Trent stated, “Thank you for considering the need of Harrah. Significant growth is expected over the next 5-10 years. The NE 23rd Corridor project is closing a gap for business development and the project on the Harrah Road Corridor is a much-needed upgrade.”
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 Legislators from the Harrah area for their 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
