Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
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OKLAHOMA CITY –The River Parks Authority (Authority) received approval for $4,200,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to repair the Authority’s flood control structure. Construction of upgrades and improvements to the berm will be financed by the Oklahoma American Rescue Plan Act (ARPA) grant program.
The Authority owns the West Bank Sports Complex (Complex) which is located on the bank of the Arkansas River (River). A 2019 flood of the River damaged an earthen berm next to the Complex. These proceeds will be used to reconstruct the berm to protect a neighborhood and local business from future flooding and to protect the River from nonpoint source pollution from runoff.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $6,490,000 compared to traditional financing.