Press Release
May 20, 2015
Oklahoma City Water Utilities Trust Receives $800,000 Wastewater System Loan from OWRB
The Oklahoma City Water Utilities Trust received an $800,000 loan Tuesday from the Oklahoma Water Resources Board (OWRB) to facilitate improvements to the community’s wastewater infrastructure. The OWRB approved the Clean Water State Revolving Fund (CWSRF) loan during the Board’s regular monthly meeting.
The Oklahoma City Water Utilities Trust will use the loan proceeds to rehabilitate an 8-inch sanitary sewer line, and replace and rehabilitate existing manholes, from NE 30th St. to NE 26th St. between N. Prospect Ave. and Martin Luther King Ave. in Oklahoma City.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, said the 30-year CWSRF loan shall be secured with a lien on the revenues of the Trust’s water and sewer systems. The project will also include $75,304 in local funding. Oklahoma City officials attending the OWRB’s monthly meeting in support of the loan application included Bret Weingart, Assistant Utilities Director, Finance Director Billy Little, and Sam Samandi, Engineering Manager.
Since 1983, the Oklahoma Water Resources Board has approved over $3.2 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
“We are grateful to State Legislators from the Oklahoma City metro for their support of our financial assistance programs,” said J.D. Strong, executive director of the OWRB.
