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Ohio EPA Loan Program Goes Above $1 Billion Mark
Ohio EPA recently reached a landmark point in its Water Supply Revolving Loan Account (WSRLA) program when loans awarded passed the $1 billion mark. The loans were awarded to Ohio communities for projects that will improve drinking water quality.
Started in 1998, the Ohio Water Supply Revolving Loan Account provides loans with below-market interest rates for compliance-related improvements to public water systems. The program has saved public water systems more than $243 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.
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.