Oklahoma Water Resources Board the Water Agency

Drinking Water State Revolving Fund Loan Program


A low-interest loan program, administered cooperatively between the OWRB and Oklahoma Department of Environmental Quality (ODEQ), to assist communities with public water supply infrastructure construction projects. Communities that are considered disadvantaged may be eligible for extended term financing, up to 30 years, under this program.

Application Requirement

Engineering & environmental report; public notice and hearing

Timing Requirement

Projects ranked on a priority list (projects ready to proceed receive more points)

Eligible Entities

  • Counties, towns, and municipalities
  • Public Works Authorities
  • School districts
  • Districts formed under Title 82 of the State’s statutes as follows:
    • Water conservancy districts
    • Rural water districts
    • Irrigation districts

Eligible Projects

  • Drinking water treatment
  • New intake/raw water lines
  • Major distribution/storage system rehabilitation
  • New storage
  • Engineering
  • New transmission/distribution systems

Program Requirements

  • Projects must be listed on the DWSRF Project Priority List and current Intended Use Plan maintained by the Department of Environmental Quality (DEQ). Projects that are ready to proceed will receive the highest priority.
  • Engineering report as required by the DEQ, including a cost-effective analysis
  • Sufficient economic and environmental information for the DEQ to issue an environmental decision regarding project impacts
  • Public participation/public hearing with public notice
  • Project will be required to comply with federal Safe Drinking Water Act requirements and federal cross-cutting laws and authorities.

DWSRF Loan Terms

  • Interest Rates: 70% of the sum of AAA market rate plus 70 basis points.
  • 0.50% Administration fee
  • Up to 30 years maximum payback period
  • 1.25 rate covenant factor
  • No reserve requirements (unless required by borrower’s existing outstanding debt)
  • Loan proceeds drawn down as cost are incurred
  • Interest and administrative fees billed every 6 months
  • Principal will be billed every 6 months after construction completion

Resources

Application Compare OWRB Financing Programs Financing Program Summary Data Interactive Project Map Viewer Loan FAQ Rules (Chapter 50) Drinking Water State Revolving Fund (ODEQ) Fact Sheet

Program Contacts

Joe Freeman, Chief Jennifer Wasinger, Assistant Chief

Financial Assistance Division
Oklahoma Water Resources Board
3800 North Classen Blvd.
Oklahoma City, OK 73118
Phone 405-530-8800
Fax 405-530-8898


Vickie Reed, DWSRF Program Coordinator

Water Quality Division
Oklahoma Department of Environmental Quality
P.O. Box 1677
Oklahoma City, OK 73101-1677
Phone 405-702-8100
Fax 405-702-8101
www.deq.state.ok.us


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Page last updated: July 18, 2015

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