|Ohio EPA loan to finance Rossford water line work|
|Written by Sentinel-Tribune Staff|
|Saturday, 27 July 2013 07:45|
ROSSFORD — Ohio EPA has issued a $1.29 million low-interest loan to the Northwestern Water and Sewer District to replace drinking water supply lines in the city.
Ohio’s Water Supply Revolving Loan Account provides loans at interest rates below market rate. Over the 20-year life of the loan, the district will save an estimated $283,700 when compared to the market rate.
The Northwestern Water and Sewer District will upgrade 6,200 feet of water line at multiple sites in Rossford, including Rinker Court, Colony Court, Colony Road, Windsor Drive, Elm Street, Eagle Point Road, Buck Road and Lime City Road.
The work will create critical water line loops for redundancy of service, correct improperly connected service taps, replace old line, increase line capacity and eliminate a few lines that are underneath houses. Pipe will be installed under Grassy Creek at one point with no significant impact on the creek.
The entire project is being funded by the $1.3 million WSRLA loan. Debt will be repaid from a general repair and replacement fund without raising water rates.
Started in 1998, the Ohio Water Supply Revolving Loan Account has provided more than $900 million in loans with below-market interest rates for compliance-related improvements to public water systems. The program has saved public water systems more than $158 million in interest. Additionally, the WSRLA can provide technical assistance to public water systems in a variety of areas from the planning, design and construction of improvements to enhancing the technical, managerial and financial capacity of these systems.
This state revolving loan fund is partially supported by federal grants and designed to last indefinitely through repayment of loans and investments in bonds.
The loan program is managed by Ohio EPA, with assistance from the Ohio Water Development Authority. Ohio EPA is responsible for program development and implementation, individual project coordination, and environmental reviews of projects seeking funds.
The Ohio Water Development Authority provides financial management of the fund.
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