OKLAHOMA CITY – Broken Arrow Municipal Authority (Authority) received approval for a $20,750,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their wastewater infrastructure.
The Authority will use the proceeds for design of the Haikey Creek wastewater treatment plant, to evaluate the alternatives for the Haikey Creek lift station expansion, rehabilitate sewer infrastructure in the Melinda Park neighborhood, to replace sewer lines in Camino Village, install 5,300 linear feet (lf) gravity sewer line and 3,400 lf of force main, install a new 1.1 million gallon per day submersible duplex lift station for a new development, and for design as well as property costs for the Cambridge lift station improvements.
According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $443,600 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, sewer, and sanitation systems and a one cent sales tax.The Authority’s Finance Director, Cindy Arnold, stated, “Broken Arrow appreciates everything OWRB does with the City and has completed some great projects with the help of OWRB.”
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