Site icon West Unity Ohio

Edgerton Among Those To Receive Financing From Ohio EPA


Communities in Northwest Ohio are receiving approximately $14.6 million in low-interest rate and principal forgiveness funding from Ohio EPA to improve wastewater and drinking water infrastructure and make other water quality improvements.

Funding infrastructure projects and improving water quality across the state continues to be a priority of Governor Mike DeWine’s administration.

These loans (financed through the state’s revolving fund) were approved between July 1 and Sept. 30, 2022.

The lower interest rates and principal forgiveness will save these communities more than $3 million.

“Drinking water and sewage treatment infrastructure are important components of Ohio’s economy and Ohioans’ quality of life,” Governor DeWine said.

“My administration has made clean water a priority across the state and will continue this effort moving forward.”

Statewide, Ohio EPA awarded approximately $220 million in loans during the third quarter of 2022, including more than $10 million in principal forgiveness.

Combined, Ohio communities will save approximately $40.1 million when compared to market-rate loans. The projects are improving Ohio’s surface water quality and the reliability and quality of Ohio’s drinking water systems.

For the third quarter of 2022, the following Northwest Ohio projects are receiving funding:

Created in 1989, the Water Pollution Control Loan Fund (WPCLF) helps communities improve their wastewater treatment systems.

The Water Supply Revolving Loan Account (WSRLA), started in 1998, provides loans for improvements to community drinking water systems and nonprofit, noncommunity public water systems.

Both programs offer below-market interest rate loans, which can save communities a substantial amount of money compared to a market-rate loan.

Ohio EPA’s state revolving fund (SRF) loans are provided to communities to build and upgrade wastewater and drinking water infrastructure, upgrade home sewage treatment systems, better manage storm water, address combined sewer overflows, and implement other water quality-related projects.

Financial assistance helps support planning, design, and construction activities and enhances the technical, managerial, and financial capacity of these systems.

WPCLF loans also make possible the restoration and protection of some of Ohio’s highest quality water bodies through the fund’s Water Resource Restoration Sponsor Program.

Ohio’s SRF loan programs are partially supported by annual federal capitalization grants and have grown substantially over time because of the revolving nature of the loan issuance and payments back into the fund.

The SRF programs are managed by Ohio EPA’s Division of Environmental and Financial Assistance, with assistance from the Ohio Water Development Authority.

Ohio EPA is responsible for program development and implementation, individual project coordination, and environmental and other technical reviews/approvals of projects seeking funds.

The Ohio Water Development Authority provides financial management of the SRF funds.

More information about the SRF loan program is available at: https://epa.ohio.gov/defa.


 

The post Edgerton Among Those To Receive Financing From Ohio EPA first appeared on The Village Reporter.


Source: The Village Reporter

Exit mobile version