Press Release

OKLAHOMA CITY – The Commerce Development Authority (Authority) received approval for $931,320 in funding with 100% Principal Forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure. Construction of upgrades and improvements to the water system will be financed by the Oklahoma Drinking Water State Revolving Fund (DWSRF).

The Commerce Development Authority will use the funding to replace the aging water infrastructure by constructing 2,469 linear feet of 12-inch polyvinyl chloride (PVC) water line and 4,774 linear feet of 6-inch PVC water line along River, Quincy, and Vine Streets. The existing water lines have a history of leaks and do not meet current distribution standards for pipe size and materials. With a planned street renewal project on the 
horizon, replacing the water lines beforehand will help prevent further deterioration, protect water quality, and reduce future maintenance costs for the City of Commerce.

Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,460,000 compared to traditional financing.