Harrah Public Works Authority receives $2,560,000 loan from the OWRB for water and wastewater system improvements
OKLAHOMA CITY – Harrah Public Works Authority (Authority) received approval for a $2,560,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their water and wastewater infrastructure.
The Authority will use these funds for the extension of water and sewer mains in the vicinity of Luther Road and SE 29th Street and NW 23rd Street, construction of a NE 23rd Street lift station, installation of a collection main and force main, approximately 1,100 feet of sewer line along 23rd Street, and the retrofit and upgrade of a sewer lift station on Harrah Road.
According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $464,000 over the life of the 30-year loan compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s water and sewer systems, a three (3) cent sales tax, and a mortgage. Harrah’s Mayor, Danny Trent, stated, “We appreciate the Board’s consideration of this request and are applying because of the growth in Harrah. We look forward to moving forward. Thank you.”
Since 1983, the Oklahoma Water Resources Board has approved over $5.4 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
“We are grateful to State Senator Shane Jett, Brenda Stanley, and Zach Taylor, and Representative Preston Stinson for their support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.