Comparison of All OWRB Financing Programs as of August 3, 2010

Description & Eligibility

Terms & Interest Rates

Application Requirements

Timing Requirement

Emergency Grant

A point-based program to assist communities facing life, health, or property water or sewer crisis

$100,000 max.; 15% match funds from community; funds from other grant programs cannot be used as matching funds

Must receive at least 60 points to be placed on priority list


REAP Grant

A point-based program to assist smaller communities with water and sewer projects who lack sufficient fiscal capacity.

Less than 7,000 population; preference given to towns < 1,750 or rural districts with < 525 non-pasture taps

$150,000 max. Must receive at least 40 points to be placed on priority list

Application deadline: first business day of September

Clean Water and Drinking Water State Revolving Fund Loan

Two low-interest loan programs to assist communities with municipal wastewater or public water supply infrastructure construction projects and other pollution control projects.

CWSRF: 60% of the sum of AAA market rate plus 70 basis points fixed + 0.5% admin.; 30-year term

70% of the sum of AAA market rate plus 70 basis points fixed + 0.5% admin.; 30-year term

Engineering & environmental report; public notice and hearing. See FACT Guidelines at

Project must be ranked and listed on project priority list; Projects ready to proceed will receive higher points

Bond Loan

A long-term; low-interest public water & sewer loan program offering variable interest rates, with a fixed rate conversion option.

Variable or fixed rate, 30-year term

Debt service reserve of 10% can be included in loan


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