08/16/13
PUBLIC INTEREST CENTER: (614) 644-2160
MEDIA CONTACT:
Dina Pierce

CITIZEN CONTACT: Darla Peelle

Ohio EPA Loan Funding Replacement of McComb Water Tower

Ohio EPA has issued an $890,279 low-interest loan to help the village of McComb construct a new water tower.

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 village will save an estimated $256,000 when compared to the market rate.

McComb’s current water tower was constructed in 1938 and is near the end of its useful life.

The village will install a new tank next to the current tank. When construction is complete, estimated to be July 2014, the old tank will be demolished. The project will improve the safety and reliability of McComb’s water supply and will provide safer access to the tower for maintenance.

The $1.053 million project also is receiving $162,950 from the Ohio Public Works Commission.

Started in 1998, the Ohio Water Supply Revolving Loan Account has provided more than $1 billion in loans with below-market interest rates for compliance-related improvements to public water systems. The program has saved public water systems more than $175 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 jointly managed by Ohio EPA’s Division of Environmental and Financial Assistance and Division of Drinking and Ground Waters, 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.

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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.
 


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