FA Loans—396 totaling $1,311,755,000
The OWRB's Financial Assistance Program (FAP), created by the State Legislature in 1979, provides loans for water and wastewater system improvements in Oklahoma. The tremendous popularity of the bond loan program is due, in part, to extended payoff periods of up to 30 years at very competitive interest rates.
CWSRF Loans—370 totaling $1,844,275,622
The Clean Water State Revolving Fund (CWSRF) loan program was created in 1988 to provide a renewable financing source for communities to use for their wastewater infrastructure needs. The CWSRF program is Oklahoma's largest self-supporting wastewater financing effort, providing low-interest loans to communities in need.
DWSRF Loans—226 totaling $1,501,459,513
The Drinking Water State Revolving Fund (DWSRF) loan program is an initiative of the OWRB and ODEQ to assist municipalities and rural water districts in the construction and improvement of drinking water systems. These projects are often mandated for communities to obtain compliance with increasingly stringent federal standards related to the treatment of drinking water.
REAP Grants—712 totaling $63,389,920
The Rural Economic Action Plan (REAP) Program was created by the State Legislature in 1996. REAP grants, used for water/wastewater system improvements, primarily target rural communities with populations of 7,000 or less, but priority is afforded to those with fewer than 1,750 inhabitants.
Drought Response Program Grants—6 totaling $418,848
Through the OWRB's Drought Response Program, funding is available for communities in most dire need during state drought emergencies declared by the Governor. A maximum of $300,000 is diverted from existing OWRB Emergency Grant proceeds to fund the Program.
Emergency Grants—593 totaling $35,363,155
Emergency grants, limited to $100,000, are awarded to correct situations constituting a threat to life, health, or property and are an indispensable component of the agency's financial assistance strategy.
Water for 2060 Grants—4 totaling $1,500,000
Through the Water for 2060 Grant Program, funding was available in 2015 for municipalities, counties, water/sewer districts and other public entities for projects that highlight the responsible use of water.
Emergency Drought Relief Grants—4 totaling $1,125,000
Through the Emergency Drought Relief Grant Program, funding was provided in 2013 by the Legislature via the Emergency Drought Relief Commission to address severe drought issues in specific Oklahoma counties.
Total Loans/Grants Approved: 2,313 totaling $4,761,004,057
Estimated Savings: $1,580,996,601
Applicants eligible for water/wastewater project financial assistance vary according to the specific program's purpose and requirements, but include towns and other municipalities with proper legal authority, various districts established under Title 82 of Oklahoma Statutes (rural water, master/water conservancy, rural sewage, and irrigation districts), counties, public works authorities, and/or school districts. Applications for agency financial assistance programs are evaluated individually by agency staff. Those meeting specific program requirements are recommended by staff for approval at monthly meetings of the nine-member Water Board. For more information, call (405) 530-8800 or go to www.owrb.ok.gov/financing.