PEMBERVILLE — Pemberville is receiving $223,303 at 3.20% for 20 years for the construction of 2,500 feet of waterline.
The waterline is along Bierley Avenue and Water Street. It will eliminate dead ends in the southern portion of the village, according to a news release by the Ohio Water Development Authority.
The authority awarded $9.1 million through low interest loans to Ohio communities to improve wastewater and drinking water infrastructure and make water quality improvements. For the month of October, the authority funded nine projects that will provide improvements and replace aging infrastructure. The projects received an interest rate ranging from 1.32% to 3.66%.
The State of Ohio created the OWDA to provide funding for construction of public water and wastewater infrastructure in Ohio. Since its creation in 1968, OWDA has pursued borrowing that assure the OWDA the lowest cost of funds in order to maintain low borrowing rates for the local governments of Ohio. These low borrowing rates allow local governments to construct necessary water and sewer improvements while minimizing the impact to user charges.
More information about OWDA’s financing programs is available at www.owda.org.