Owasso Public Works Authority receives $9,000,000 loan from the OWRB for wastewater system improvements

OKLAHOMA CITY – Owasso Public Works Authority (Authority) received approval for a $9,000,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve its wastewater infrastructure.

The Authority’s Elm Creek interceptor is deteriorating, the 117th force main needs replaced, and the Rock Creek interceptor needs improvements. These proceeds will be used to rehabilitate 5,000 linear feet (lf) of sewer line using cured in place pipe method at the Elm Creek interceptor, along with rehabilitating twenty-five (25) manholes, and replacing 5,935 lf of 15-inch gravity sewer line to 24-inch line.

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $2,585,900 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, sanitation systems, and the Bailey Ranch Golf Club, and a two (2) cent sales tax.

The Authority’s Finance Director, Carly Novozinsky, stated, “Thank you for this opportunity and consideration.”

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 Senator Dana Prieto and Representative Mark Vancuren, 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