The Frederick Public Works Authority Receives $452,748 Water System Loan with Principal Forgiveness from the OWRB
View allThe Frederick Public Works Authority Receives $452,748 Water System Loan with Principal Forgiveness from the OWRB
OKLAHOMA CITY – The Frederick Public Works Authority (Authority) received approval for a $452,748 loan 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The Authority operates a public water system and will use the funding to replace approximately 1,800 outdated water meters with modern automated metering infrastructure (AMI), which provides real-time, accurate water-use data. This upgrade will improve operational efficiency, reduce costs, and enhance the system’s ability to identify leaks and other sources of water loss. By minimizing manual meter reading, the project will give operators more time to focus on essential maintenance, such as repairing lines and addressing system needs. These improvements will strengthen long-term water reliability and support continued delivery of safe, dependable service for residents and businesses throughout the service area.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,890,799 when compared to traditional financing.