The Snyder Public Works Authority Receives $5,298,761 Water System Loan with Principal Forgiveness from the OWRB
View allThe Snyder Public Works Authority Receives $5,298,761 Water System Loan with Principal Forgiveness from the OWRB
OKLAHOMA CITY – The Snyder Public Works Authority (Authority) received approval for a $5,298,761 loan with $1,200,000 in 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 is undertaking significant upgrades to its water treatment and distribution infrastructure to improve water quality and system performance. The project includes new treatment equipment and chemical feed systems, modernization of plant controls and monitoring equipment, construction of a new laboratory and office building, electrical improvements, and the replacement of 625 aging water meters with Automated Meter Reading (AMR) technology. These improvements will help the Authority restore compliance with federal drinking water standards related to disinfection byproducts, while providing more accurate monitoring of water use throughout the system. The project will also improve operational efficiency and strengthen the reliability of drinking water service for residents and businesses throughout the community.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $4,047,000 when compared to traditional financing. The DWSRF loan will be secured with a lien on the revenues of the Authority’s water, sewer, and sanitation services.