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Press Release
June 17, 2015

Cherokee Development Authority Receives $2,640,000 Wastewater System Loan from OWRB

The Cherokee Development Authority (Authority) received approval for a $2,640,000 loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the community’s wastewater infrastructure. Construction of upgrades and improvements to the Authority's wastewater system will be financed by the Oklahoma Clean Water State Revolving Fund (CWSRF).

The community's current treatment system consists of two primary lagoon cells, and two evaporation cell lagoons. The system discharges effluent into Clay Creek. The project will rehabilitate the existing lagoon system, therefore, providing increased water quality benefits for community residents and businesses in and near Cherokee.

Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Cherokee Development Authority’s customers will save an estimated $1,365,000, over the life of the 30-year loan, compared to traditional financing. The CWSRF loan shall be secured by a lien on water, sewer, sanitation, rental revenues as well as a one cent sales tax. Cherokee officials attending the OWRB’s monthly meeting in support of the loan application included Don Bowman, City Manager, and Roman Stevens, Operations Manager.

The CWSRF program is administered by the Oklahoma Water Resources Board with partial funding from the U.S. Environmental Protection Agency. Oklahoma utilizes the CWSRF program to provide communities the resources necessary to maintain and improve the infrastructure that protects our valuable water resources statewide.

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 Senator Patrick Anderson and Speaker Jeff Hickman, for their support of our financial assistance programs,” said J.D. Strong, executive director of the OWRB.

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