Piedmont Municipal Authority Receives $22,650,000 Loan from the OWRB for Water and Wastewater System Improvements
OKLAHOMA CITY – Piedmont Municipal Authority (Authority) received approval for a $22,650,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their water and wastewater infrastructure.
The Authority is undertaking critical water and wastewater infrastructure improvements to support the city’s rapid growth, with the population expected to increase by 162% in the next 25 years. The funds will be used for projects including constructing a secondary Oklahoma City water connection with a 600-gpm booster pump station and two miles of 16-inch waterline, building a new elevated storage tank, rehabilitating water wells, and upgrading wastewater systems through sewer line repairs, a Wastewater Master Plan, and new lift stations and interceptor lines. These improvements will enhance service reliability, address current deficiencies, and prepare the community for sustainable development.
According to Lori Johnson, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $6,578,100 compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s Water, Sewer, and a 4 cents Sales Tax.
Local officials attending the OWRB’s monthly meeting in support of the loan application included Mayor Kurt Mayabb and City Manager Josh Willams. “We really appreciate the OWRB helping us with this funding,” said Mayor Mayabb.
“Piedmont has been one of the fastest growing areas in Oklahoma for over a decade. With growth comes growing pains. I am pleased to see OWRB working in conjunction with Piedmont to address some of the fundamental water problems,” said Representative Denise Crosswhite Hader, R-Piedmont. “While this is not an immediate resolution, it is a start to provide much needed water in the area, and that is appreciated.”
“We are grateful to State Senators Kristen Thompson and Darcy Jech and State Representative Denise Crosswhite-Hader for their support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.
Since 1983, the Oklahoma Water Resources Board has approved over $7.7 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
