Duncan Public Utilities Authority receives $26,450,000 in funding from OWRB
The Duncan Public Utilities Authority (Authority) received approval for a $26,450,000 in loan funding Tuesday from the Oklahoma Water Resources Board (OWRB). The first request was for $16,200,000 financed by the Financial Assistance Program (FAP) with a second request totaling $10,250,000 funded through the Oklahoma Clean Water State Revolving Fund (CWSRF).
The Authority will utilize the FAP proceeds to replace water lines throughout the system and for water treatment plan improvements. The second loan approval, funded through the CWSRF program, will be used for the installation of an Advanced Metering Infrastructure (AMI) system and to replace approximately 13,000 water meters and 9,600 electric meters with automatic readers. The new meters will allow for the Authority to better monitor and bill for water and electricity used by its citizens, ultimately reducing the amount of water and energy consumed. This project helps to meet Oklahoma’s Water for 2060 goals by focusing on water conservation through a reduction of unintended flows to the wastewater treatment plant and is recognized under Oklahoma’s Nonpoint Source Management Plan for improved energy efficiency, which helps reduce atmospheric deposition of mercury into nearby waterbodies.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save a combined estimation of $3,719,800 over the life of the two loans compared to traditional financing. The loans will be secured with a lien on the revenues of the Authority’s water, sewer, sanitation, and electric systems and a one cent sales tax. An Authority representative stated, “On behalf of the citizens of Duncan, we would like to express our appreciation to the Oklahoma Water Resources Board. The Board’s loan programs have helped manage the costs to upgrade the City’s water and wastewater infrastructure. We would particularly like to thank the OWRB staff for their hard work and assistance.”
The CWSRF program is administered by the Oklahoma Water Resources Board with partial funding from the U.S. Environmental Protection Agency (EPA). The CWSRF program has provided approximately $2.0 billion in water quality loans to provide communities the resources necessary to maintain and improve the infrastructure that protects our valuable water resources statewide.
Since 1983, the Oklahoma Water Resources Board has approved over $5.3 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
“We are grateful to State Senator Jessica Garvin and Representative Marcus McEntire for their support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.