Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
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OKLAHOMA CITY – The Buffalo Public Works Authority (Authority) received approval for $314,450 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure. Construction of upgrades and improvements to the water system will be financed by a 100% principal forgiveness loan through the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The Authority will utilize the proceeds for valve installation which will reduce water loss and improve pressure in the distribution system for residents and businesses within the Authority.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $489,550 compared to traditional financing.
