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

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

None

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

DWSRF:
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 www.owrb.ok.gov/FACT

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

None


Many documents available on this site are in Adobe® Acrobat (.PDF) format and require the free Adobe® Reader software to view and print.
Visit www.ok.gov, the Oklahoma State Portal
©1998-2014, Oklahoma Water Resources Board
Page last updated: October 04, 2013

IMPORTANT NOTE:
This site has been redesigned using Cascading Style Sheets (CSS). If you are seeing this message you are using an older browser which lacks support for CSS. Please upgrade your browser to the latest version of Internet Explorer, Netscape or other CSS compatible browser to view this page properly.