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MEDIA CONTACT: Erin Strouse
CITIZEN CONTACT: Amber Finkelstein
Pike Water Project Receives Ohio EPA Loan to Extend Water Service, Improve Water Pressure
Ohio EPA has issued a $996,354 zero-interest loan to Pike Water Inc. to help construct the Potts Hill Rd. waterline extension between Twin and Paxton townships in Ross County. The project is expected to provide a safe, continuous public supply of potable water to approximately 42 residences in the area and improve water supply pressures to approximately 36 existing system customers who currently experience low delivery pressures during peak hours.
As part of the loan from Ohio’s Water Supply Revolving Loan Account (WSRLA), the village qualifies for $394,791 in principal forgiveness which does not need to be repaid. A zero percent interest rate on the remaining $601,563 part of the loan should save an estimated $1.2 million over the 30-year life of the loan when compared to the market rate.
The project includes the installation of waterlines; a new 183,000 gallon storage tank near the intersection of Potts Hill Rd. and Mitchell Rd.; residential services with related valves and hydrants; and a booster station building near the intersection of Potts Hill Rd. and SR 772. Ohio EPA staff worked closely with Pike Water Inc. officials and its consultant to minimize tree loss and avoid streams and wetlands that could have been impacted during installation of this rural water line.
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.