Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
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OKLAHOMA CITY – The Porter Public Works Authority (Authority) received approval for a $1,000,000 loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure. Construction of upgrades and improvements to the wastewater system will be financed by a 100% principal forgiveness loan through the Oklahoma Clean Water State Revolving Fund (CWSRF) along with an EPA grant in the amount of $827,000, a Community Development Block Grant (CDBG) in the amount of $563,044.75, and an Indian Health Services grant in the amount of $204,000.
The Authority will use these proceeds to construct a new disinfection facility, install aeration equipment in the oxidation ditch, add flow measurement devices and a wet weather lift station and install yard piping. These improvements will provide additional water quality infrastructure to address disinfection and aeration for residents and businesses in and near the Authority.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,788,600 compared to traditional financing.