ResourcesLoan & Grant Resource Guide Financing Brochure Frequently Asked Questions Independent Registered Municipal Advisor Certificate for SRF Programs Financing Program Summary Data.xls Compare Interest Rates Water & Wastewater Planning Guides
Related PagesAmerican Recovery & Reinvestment Act Funding Agency Coordinating Team (FACT)
Program ContactsJoe Freeman, Chief Lori Johnson, Assistant Chief
Financial Assistance Division
Loan ReportsAudits of the FAP, CWSRF, & DWSRF Loan Programs Annual Reports & Intended Use Plans DWSRF Project Priority List (ODEQ) Loans Approved and Funded
Grant ReportsEmergency Grants Priority List REAP Grants Priority List Emergency Grants Approved and Funded REAP Grants Approved and Funded
Related SitesAssociation of Clean Water Administrators DEQ Water Quality Programs EPA Clean Water Financing EPA Clean Water Needs Survey EPA Groundwater & Drinking Water EPA Office of Wastewater Management EPA Office of Water EPA Oklahoma Drinking Water Online EPA Planning for Sustainability - A Handbook for Water and Wastewater Utilities EPA Water Quality Standards Academy Stormwater Manager's Resource Center US Water News USDA Rural Development in Oklahoma USDA Rural Utilities Service
What is the OWRB Financial Assistance Program?
The OWRB's Financial Assistance Program (FAP) provides funding to Oklahoma communities for the improvement of water and wastewater infrastructure. As of January 1, 2016, the OWRB Financial Assistance Division has approved 2,067 loans and grants for a total of $3,340,120,965. These financing opportunities have saved Oklahoma communities an estimated $1,140,226,149 over conventional financing options.
The CWSRF loan program is funded by EPA capitalization grants, state matching funds, and bonds. The CWSRF is administered by the OWRB. The interest rate is fixed at 60% of AAA market rate plus 70 basis points.
The DWSRF loan program is funded by EPA capitalization grants, state matching funds, loan repayments, investment earnings, and bonds. The DWSRF is administered cooperatively by the OWRB and the Oklahoma Department of Environmental Quality (ODEQ). The interest rate is fixed at 70% of AAA market rate plus 70 basis points.
The OWRB's long term, low interest revenue bond loan program offers a variable interest rate wth a fixed rate conversion option. The variable interest rate is at 1.51%; the fixed interest rate is the AAA market rate.
Note: a 0.5% administrative fee is added to all CWSRF and DWSRF loans
Water & Wastewater Loans Interactive Map Viewer
The Emergency Grant Program is point-based designed to assist communities facing crises which threaten life, health, or property.
The REAP Grant Program is a point-based program designed to assist smaller communities that lack sufficient fiscal capacity. Cities, towns, and municipalities with a population less than 1,750 are given priority. Rural water and/or sewer districts with less than 525 non-pasture customers are also given priority.
Projects to be considered for this grant funding must demonstrate water efficiency and support drought resiliency within the community or water/wastewater system. Water efficiency encompasses conservation and reuse efforts, as well as water loss reduction and prevention, to protect water resources for the future.
When Oklahoma is suffering from drought conditions and the governor subsequently declares a formal state drought emergency, the OWRB can offer limited grant assistance to alleviate related community impacts.
Oklahoma's Emergency Drought Relief Fund, enabled through passage of Enrolled House Bill 1923 in 2012, provides funding for drought mitigation and related projects in Oklahoma in conjunction with a formal gubernatorial drought declaration.
Water & Wastewater Grants Interactive Map Viewer
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Page last updated: January 27, 2016