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Ohio EPA Loan Funding Bowling Green Water Tower Replacement
Ohio EPA has issued a $3.57 million low-interest loan to the city of Bowling Green to construct a new drinking water storage tank.
Ohio’s Water Supply Revolving Loan Account (WSRLA) provides loans at interest rates below market rate. Over the 20-year life of the loan, the city will save an estimated $781,400 when compared to the market rate.
Bowling Green plans to replace the Manville Tower with a new 1.5-million-gallon water tank on a 0.68-acre parcel of land that is part of an industrial park. The 162-foot high tank would tie into existing water lines along Newton Road.
In addition to the WSRLA loan, the $3.86 million project also is receiving a $284,360 grant from the Ohio Public Works Commission.
Started in 1998, the Ohio Water Supply Revolving Loan Account has provided more than $900 million in loans with below-market interest rates for compliance-related improvements to public water systems. The program has saved public water systems more than $158 million in interest. Additionally, the WSRLA can provide technical assistance to public water systems in a variety of areas from the planning, design and construction of improvements to enhancing the technical, managerial and financial capacity of these systems.
This state revolving loan fund is partially supported by federal grants and designed to last indefinitely through repayment of loans and investments in bonds. The loan program is managed by Ohio EPA, with assistance from the Ohio Water Development Authority. Ohio EPA is responsible for program development and implementation, individual project coordination, and environmental reviews of projects seeking funds. The Ohio Water Development Authority provides financial management of the fund.
The Ohio Environmental Protection Agency was created in 1972 to consolidate efforts to protect and improve air quality, water quality and waste management in Ohio. In the past 40 years, air pollutants dropped by as much as 90 percent; large rivers meeting standards improved from 21 percent to 89 percent; and hundreds of polluting, open dumps were replaced with engineered landfills and an increased emphasis on waste reduction and recycling. Ohio EPA….40 years and moving forward.