Fort Cobb Public Works Authorityreceives$1,000,000water system funding from OWRB
OKLAHOMA CITY – The Fort Cobb Public Works Authority (Authority) received approval for $1,000,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure. The construction of upgrades and improvements to the system will be financed by a 100% principal forgiveness loan through the Oklahoma Drinking Water State Revolving Fund (DWSRF) along with an Association of South Central Oklahoma Governments (ASCOG) Rural Economic Action Plan (REAP) grant for $45,000, and $17,400 in local funds.
The Authority will utilize the proceeds to replace approximately 6,400 linear feet of deteriorated water line throughout the system. These improvements will ensure water pressure is maintained for residents and businesses within the Authority while reducing water loss issues created by leaks or pipe breaks.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,549,200 compared to traditional financing.
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